VILNIUS, Lithuania — Since the Bank of Lithuania decided to change its unfit and damaged currency replacement procedures, the commercial banks' interest in the protective measures to curb ATM thefts, especially where the use of dye at the ATM is concerned, has significantly increased.
Until now, banking rules allowed bans to replace damaged currency, such as ink-stained notes. Since the commercial banks' decision to use more ink-staining, damaged currency will be accepted and recouped only to the banks and institutions that apply the protective measures of ink-staining.
According to a news release, only allowing the banks and financial institutions that actively adopt ink-staining technoloy will ensure that the stained notes cannot be freely used by remaining in circulation. Similar mandates for note exchanges could be considered in Norway, Denmark and other Western European countries.
"The banks' interest in this ATM-protective measure has increased thrice. It is most likely because of the increase in the amount of ATM robberies, the decision of the Bank of Lithuania, and the opportunity to recover the damaged currency," said Saulius KancerevyÄÂius of BS/2, an ink-staining provider.
KancerevyÄÂius says the installation of a special device consisting of the ink capsule, sensors that detect a possible robbery, and a corresponding program solution that takes device modification into consideration, is the most effective route to pursue.
"Although the 'ink' ATM protection measure is relatively expensive, it is exceptionally effective," he said. "In the countries where it was started ... the ATM-robbery rate decreased."
According to the European ATM Security Team, 1,459 ATMs were robbed throughout Europe during the first half of the last year, equaling 4.5 crimes or attacks annually for every 1,000 ATMs.
According to the police records, 26 ATMs were robbed in Lithuania from November 2007 to November 2008, equalling 18 crimes per thousand ATMs. Lithuania has 1,471 ATMs.
