Private companies in modern democracies are increasingly leaving certain segments of social
security to private security companies, which offer protection services for people and
properties. These private security companies are legally required to protect financial
institutions. For legal, professional, and efficient performance of tasks, the legislator grants
special powers to security guards and prescribes the licenses that private security companies
must meet to protect people and properties. Amongst the areas in which it’s obligatory to
provide an organized security service by private companies, the legislator also included certain
critical infrastructures. Financial institutions, banks, and post offices are also a part of the
critical infrastructure. In the Republic of Slovenia, the protection of such institutions is left to
private security companies through laws and regulations. As such, it’s essential to empower the
security staff and provide professional training in security management. The security company
can take effective legal actions in events of risky events. Physical and technical security is
included in the security systems of financial institutions, which are implemented by several
internal and external contractors. They ensure uninterrupted operations in branches and ATMs
as well as online banking. More and more security risks take place in these online environments,
because of the shifts towards online business, and the use of non-cash payments. There is a
significantly higher risk for online financial institutions and users when doing online business.
In financial institutions, the basis of the security system is established at the time of construction
planning and then supplemented and upgraded into a comprehensive security solution, which
significantly limits security risks. When conducting operations of financial institutions and their
users online, the security system must be constantly upgraded and new security risks must be
detected in real-time. Upon entry, they must be limited and negative operations in the banking
system must be prevented. Due to the abandonment of security measures, the users of online
banking are currently the greatest security risk, which can have negative consequences for the
financial institution. In the 21st century, the user can use online banking from multiple devices
such as desktops, laptops, and mobile phones. Due to the different ways the applications
operate, they are very exposed to computer criminals (hackers), who exploit and illegally obtain
data for material gain.
“You never know what you can do until you try, and very few try unless they have to”. The article of Zoe during her summer traineeship with JUMP
jumpwebdevelopment
August 30, 2024
Here we publish a beautiful article written by the young and, already, very professional Zoé Laczkovszki, online trainee during all […]