The Israeli security firm Risco Group, a leader in the global security solutions market which most recently provided its technology for the World Cup Soccer tournament in Brazil, has just inked a deal to protect hundreds of thousands of ATM machines in China. This according to a report in the Times of Israel.
As China’s economy advances, so does its need for security systems to protect against all sorts of crime. People mistakenly believe that because it has an authoritarian regime China does not have the same problems with crime as Western nations do. But this is not the case and cash machines are just as vulnerable to theft as in the West.
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Chinese are reportedly using credit cards and cash machines more and more as they withdraw cash from inside of banks less frequently. The country is said to have the most ATMs of any country in the world, 520, 000, and are adding more every day.
One of Risco’s devices to be utilized is its Seismic Detector. This device will alert banks if anyone attempts to tamper with an ATM or break it open. Some people actually believe that if they shake the machine then they can get it to release more cash.
Risco has operated in China for more than a decade, but still has a lot of competition there.
As Hemy Fintsy, vice-president of marketing at RISCO, told The Times of Israel, “The Chinese market is very price-conscious and we have a lot of competition. As an international brand manufacturing quality equipment and developing high-level technology, we serve the upper end of the market. Thus our competitors are not the local companies, but international firms like Siemens, Bosch, and Honeywell.”
“China is an important market for RISCO, and we have put a great deal of effort into building our position there, specializing in large projects. China is growing rapidly and there are many opportunities for us. More companies in China than ever are choosing us for our superior technology and high quality of work. We expect our engagement with the Chinese market to continue growing in the coming years, ” he added.