SBP Asks Banks to Enhance Security and Surveillance of Branches & ATMs

State Bank of Pakistan (SBP) has directed all commercial and microfinance banks to enhance the operations of security and surveillance within and around branches and ATMs.   In this regard, banking institutions have been advised to update their internal Standard Operating Procedures (SOPs) to prescribe and standardize, inter alia, installation points of CCTV cameras within and around branch premises, minimum preservation period of visual records, and quality of cameras deployed including minimum required resolution standards to enable round-the-clock recording.   CCTVs, installed within the ATM vestibules, must be directed to record the ATMs users’ activities and to enable regulated entities and Law Enforcement Agencies (LEAs) facially recognize users, if so required, in investigations of terrorism, fraud and disputed transactions-related cases.   Moreover, banks shall install CCTV cameras of at least five (5) Megapixels (MPs) instead of the earlier advised specification of at least six (6) MPs, along with allied paraphernalia (e.g. storage devices, wiring, etc.).   To facilitate the phased installation, banks have been advised to install the prescribed CCTV cameras at all critical points of the existing branch premises that are in Tier 1 cities, as provided in Branch Licensing Policy, and high-risk geographies by March 31, 2025.   For this purpose, banks shall define high-risk geographies, and the number & location of critical points in and around branch premises in their updated internal SOPs for installation of CCTV cameras. These requirements will also be applicable to all new branches being established and existing branches being renovated under the annual budget for 2024, where procurement orders for CCTV cameras and related paraphernalia have not been placed.   Commercial and microfinance banks may, at their discretion, opt for the accelerated installation of prescribed cameras across their entire branch network. Moreover, banks are advised to submit a plan for implementation of the above regulatory instructions to the relevant Banking Supervision Department.   The banking watchdog revised these rules based on the representations received from various stakeholders and to facilitate the phased installation of Close Circuit Television (CCTV) cameras within and around bank branch networks.