News

South African banks invest to protect ATMs from attacks

July 10, 2007

All Africa:First National Bank in Johannesburg says it plans to spend R100 million (U.S. $14 million) over the next three years to beef up security at its 3000 ATMs across South Africa, in response to the recent rash of ATM explosions. The 26 explosions at FNB ATMs this year has cost FNB millions of rands per ATM. Other banks have expressed concern about the spate of bombings as well. Banks are now working with police and the South African Banks Risk Information Centre to safeguard ATMs.