We probably should have been speaking more about the situation at KeyCorp, where a bank employee allegedly embezzled $29 million in three years. It takes a lot of bank robberies to hit a cost of $29 million.
One of the interesting statistics that we heard at the symposium relates to this KeyCorp situation perfectly. Some 40 percent of tellers and basic-level bank employees are approached in their own banks' parking lots about becoming involved in a crime which would target the bank. A top bank security director (who asked to go unnamed) in the audience told me that many of those teller positions were paid so poorly that "it's a half step above being the fry cook at Burger King." "They might get offered $5,000 [to aid in the crime]," he added. "That's a lot of money for a 22-year-old kid who's struggling to pay rent."
In Other News
NJ alarm case, Live from Securing New Ground, Exploring home technologies, and more
The CSAA, the NBFAA and the NJBFAA have all bonded together to file a "friend of the court" briefing regarding the case in New Jersey which found an alarm company liable for the theft that happened at a customer's premises. The ruling in the case promises to shake our industry right at its foundations, and speaks to the importance of contracts, and to the interpretations of such contracts. Look for more coverage from SecurityInfoWatch.com on this case. ... Cygnus Security (ST&D, Security Dealer) Group Publisher Susan Whitehurst filed a show report live from the Securing New Ground conference in New York. ... New SIW columnist Keith Davis of AVAD's dealer-to-builder program kicked off a column series this week that will serve to educate security dealers on expanding into the home technologies market. Coincidentally, ISC followed up by announcing that it would be creating a SmartHome project at its tradeshows. ... Fraud isn't just something big corporations have to face; Virginia Tech has been facing "highly convincing" fake tickets at its football games in past years, and the tickets are starting to show up this season as well.
Finally, a look at our most popular stories of the week:
- The Legal Side: A Dummy Cameras Question
- Cameras on Texas Border Working; System Not on Web Yet
- Detecting the Smoke Screen around Chances of Nuclear Terrorism
- Big Times Ahead for IP Surveillance Market
- Protecting Truck Cargo on Nation's Highways
- SPOT Observation, Not Profiling, Looks to Catch Terrorists