Jack was concerned that, when it came to ATMs, too much emphasis was placed on the “physical” defences, such as whether the machine was bolted down, or whether there was CCTV.
bolt down means to eat food very quickly, but it does not make sense here apparently. So is it wrongly used here?
To eat food quickly is indeed one meaning of to bolt down, but in your example sentence it is used in the literal sense; the machine has bolts in it which fasten it to the floor. Therefore the machine has been bolted down (to the ground). You can see this in the fourth definition on this page, as well as in the image below: