It's Vacation Time!

Summertime is upon us and with the warm weather comes another rash of warnings about counterfeits, fraudulent checks and other vacation activities. Wasn't it just last year about this time that we noted that fraud does not take a vacation?

This year, the activity not only seems to be returning - it is increasing alarmingly. The Federal Bureau of Investigation figures show that robbery is on the increase. The alerts are coming out fast and furious from each of the law enforcement and regulatory agencies on counterfeits, stolen checks, and fraudulent bank and Internet mail and inquiries. Even the Nigerian letters are increasing in number - and are getting much more imaginative to boot.

Add to this the increasing duties surrounding the Privacy Act and the USA PATRIOT Act of 2001, and it will be surprising if the security officer thinks they ought to take a vacation at all this summer - or at least not one without a cell phone attached to their bathing suit.

This has been a stressful year so far for the security officer. And things are not going to let up in the near future. So what I'm going to say next probably seems totally out of place.

Security officer - Be sure you take a vacation!

It's no secret, especially to you reading this, that the American people work longer and harder than any other work force in the world. Many countries are now going to the 35 hour work week, some even talking about dropping to 30 hours, or four day weeks. In France, Germany, Great Britain, and many other countries world-wide, workers get four to six weeks of paid vacation. Just imagine what you could do with a six week vacation! Makes your mouth water, doesn't it?

The fact is that the longer and harder you work - hours, days, and weeks - the less efficient you are, and the more likely you are to make mistakes. And let's be honest, security officer. When was the last time you left work on time for a whole week, and the last time you did not take work home with you - especially on the weekend?

If you've done your homework, and put in the procedures you needed to, and have trained someone to make the decisions that need to be made, take the plunge. Take that vacation this year, and return refreshed and ready to handle what is coming at us in the way of regulations, security threats, and increased fraud. You'll be a better asset to your financial institution for doing it.Won't hurt your home life, either...

Copyright © 2002 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 12, No. 6, 7/02