Robbery against businesses for the 2015/2016 financial year shows that there were 19,698 while for the 2014/15 financial year there were 19,170 robberies. This is an increase of 2.8% with the highest reported cases in Gauteng, KwaZulu-Natal and the Eastern Cape.
According to Phillips, cash in our retail sector continues to be a primary target of organised crime. With this in mind, the Consumer Goods Council of SA recorded more than 1,000 armed robbery attacks against their retail members between March 2015 and February 2016, and over 400 burglaries in the same period, which is an increase of 62%. The organisation now stresses the importance of protecting the retail environment since it accounts for 18% of our Gross Domestic Product.
While bank robberies have decreased by 64%, with only 6 cases reported across the country, Cash in Transit robberies have once again increased by some 15%. “Organised crime remains very active in the cash economy. We believe that there has been at least a 35% increase in attacks against retail cash deposit machines and a marked increase in the use of explosives,” adds Phillips.
What these latest statistics don’t reveal is the fact that ATM and cash safe bombings have also increased drastically over the past few years. “Light-weight cash deposit machines containing large amounts of cash are the new focus. Once again, the use of plastic explosives to gain access to the cash in these devices has become a popular tactic,” says Phillips.
Phillips adds that every year our retail sector has faced higher crime spikes. With the current cash in circulation figure of R130billion as recorded by the SA Reserve Bank, crime against businesses with high cash turnover is without a doubt, still a serious problem. Unless something drastic happens the impact it has on our economy seems like a long term reality.
“The senior police management team has undergone a revamp under the direction of General Phahlane and we are hopeful that South Africa’s Police Service will make a change for the better. But, South Africa cannot expect the police service alone to fight organized crime. We desperately need a collaborative intervention that ensures that the criminal justice cluster will work in close cooperation with each other and with key industry players in the cash management, cash in transit and retail sectors. Cash Crime must therefore be treated as a priority crime,” says Phillips.
Businesses that make use of traditional cash management systems and accumulate large sums of cash on site are the most vulnerable for attacks. They are now forced to increasingly invest in security, to the detriment of expanding and growing their business interests and providing employment opportunities.
It’s time retailers face reality and rethink the way they safe-guard their hard-earned cash.
Cash Connect believes that businesses should operate in a safe retail trading environment. With South Africa boasting the best technology to curb cash related crime, a robust automated cash management solution has proven to be the most effective deterrent to armed robbery, burglary, theft and cash losses. To avoid these consequences of cash crimes, retailers must consider a cash vault that is built to minimum Category 4 SABS standards to resist most of the common methods of forced entry and deflect the criminal to softer pickings.
Currently Cash Connect is South Africa’s leader in automated cash management solutions for businesses. It’s their goal and belief to enable businesses to operate more efficiently and securely.
But this cash vault is merely one cog in a holistic cash management approach. “It has to be an end-to-end solution that guarantees your cash from the moment it’s deposited into the safe until it is in your bank account. This is the future of retail banking and it’s been available for a while now,” says Phillips.
Business crime statistics may very well increase again come 2017. Currently there’s little to indicate otherwise. But our retail sector can make a difference. By letting go of the old and embracing the most reliable technology available, it can expect a meaningful decrease in attacks against business.
OPT FOR THE TRUSTED CASH MANAGEMENT SOLUTION
Trust us to protect your cash, your staff and your customers. We take the cash risk and guarantee your cash in the bank giving you more time to do what you do best, running your business. Your cash is guaranteed from the moment it is deposited into our cash vault, until it reflects in your bank account - we cover the risk of theft or loss.
Contact Us
www.cashconnect.co.za I
info@cashconnect.co.za I
cash vaults I
What we do