Industry Letters
ATM Video Retention
July 23, 2003
To the Institution Addressed:
The New York State Legislature recently passed Assembly bill 8442 which amends the ATM Safety Act to require banks to retain video tapes and similar digital recordings of ATM transactions before reusing such tapes or recording devices for 45 days in contrast to the current requirement of 30 days. We expect that the Governor, when the Legislature transmits the bill for his approval, would act to approve the bill no sooner than approximately three weeks from receipt of this letter, and if approved, the bill would become effective on that date. Therefore, since we cannot provide your institution with a date certain when the new law might be effective, we strongly recommend that you commence immediately the retention of such tapes and recordings for 45 days before reuse. We will confirm approval of the bill, if and when such occurs, by posting the information on the web page of the Department (www.banking.state.ny.us).
Should you have any questions regarding this matter, please feel free to contact Albert Frey, ATM Program Administrator at (212) 709-3546.
Very truly yours,
Ralph M. Fatigate
Director
Criminal Investigations Bureau