If you read all the public relations bulletins coming out from the banks, you know, just know, you're just positive...that the banks are absolutely and totally prepared for Y2K. "The Year 2000 will add no burden, create no problems, have no affect on the financial industry," you hear and read everywhere
That's the truth. Right? Oh-oh, what is that quiet, small voice in the back of your brain that says there still could be something that could go wrong?
Security Officers, usually considered to be prophets of doom, just aren't as convinced as the rest of the banking industry seems to be that all is well with Y2K. These security people (who after all are nothing more than a budget drain on the bank in the first place), keep saying that not all is going to come up roses. Some even have the audacity to suggest cutting hours short, or closing branches to delay or discourage a run on the bank! How dumb! Everybody knows there is no problem.
Just how convinced are we that the security officers are wrong, and if they're right, what will it take to protect our front lines and our institutions? One gentleman called me to say that in his position as security officer he attends the board of directors meetings at his bank. When he asked for additional budget to cover plans, equipment and personnel for the end of the year, he was greeted with scoffs and called an alarmist.
This security officer, however, had prepared his presentation well. He asked, "How many of you are planning on taking extra money out of the bank before midnight, December 31, 1999, to keep at home in case of emergency?" Every hand at the table went up.
When asked if the amount planned was $500 or more, every hand stayed up. The reality check was recognized. He got his budget money, and the matter has been discussed at every meeting since then.
I'm not saying it takes a whack up-side the head to realize there will be a problem with security the last week of this year. Most security officers are aware of impending problems. The FED has said they are printing $50 billion extra to cover any cash required. It's our job to see that the currency is stored and distributed safely.
OK - so we're better prepared than any other industry for Y2K. That doesn't mean we can ignore possible problems by burying our heads in the sand. It does mean security officers and administration will have to think outside the norm in order to research and to make plans and preparations.
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