Q. 3: Write note on Security Aspects of Handling and Storing Money?

Answer:

Security Aspects of Handling and Storing Money: Handling and storing money involves several security considerations to protect both individuals and businesses. Here are some key aspects:

1. Physical Security Measures:

   • Safe Storage: Keep cash in secure safes or vaults to prevent theft.
   • Limited Access: Restrict access to authorized personnel only.
   • Security Cameras: Install surveillance cameras to monitor cash handling areas.
   • Alarms and Locks: Use alarms and robust locks to deter unauthorized entry.

2. Transportation Security:

   • When moving cash, use armored vehicles or security services.
   • Avoid predictable routes and schedules to prevent targeting by criminals.

3. Employee Training:

   • Train employees on safe cash handling procedures.
   • Educate them about the risks and importance of security.

4. Digital Security:

   • Protect digital records and transactions with strong passwords and encryption.
   • Regularly update software to prevent cyber threats.

5. Risk Assessment:

   • Identify vulnerabilities and assess risks related to cash handling.
   • Implement appropriate controls to mitigate risks.