Slide background
Slide background
Never miss an
opportunity to GROW
Slide background
Slide background
JAN DU TOIT
Total Fuel Stop Heilbron
"If you have to deal with a lot of cash,
change over to Cash Connect before
it’s too late"
MY STORY
Slide background
BEYOND SAFE
"TAKING MY BUSINESS FROM A PLACE OF SAFETY
TO A PLACE OF GROWTH"
- Israel Penyane, Total Palm Springs
Slide background
PEACE OF MIND
“Ever since we moved to Cash Connect we
had absolute peace of mind”
- Greg McKey, Fish ‘N
MY STORY
Slide background
EFFICIENCY & PAYMENTS
“Cash Connect's solution saves me
time and money”
- Roza Dos Reis, Klopperpark Spar
MY STORY
Slide background
WEBFLO
“Webflo helps me to track my cash remotely“
- Kashif Khaliqi, Engen & Katleho Garages
MY STORY
Slide background
PAYMENTS
"Now I get the money instantly in my
account to make payments"
- Nelson Teixeira, Klopperpark Spar
MY STORY
Slide background
BUSINESS EFFICIENCY
“The Cash Connect solution has given us
more time to focus on what is important”
- Armand van der Merwe, Fish ‘N
MY STORY

SocialIcons05

The 2016/2017 #CrimeStats are a reminder that South Africa's battle against syndicated and organised criminals is far from won.

"With a record high of 20 680 armed robberies against business recorded in the latest crime statistics, South Africa is experiencing 57 attacks per day, a figure that should prompt critical intervention by industry and government," says Richard Phillips, joint CEO of Cash Connect.  

Judging by the national crime statistics released today by Minister of Police, Fikile Mbalula, cash- related crime has increased yet again, sounding an alarm that the mitigation of cash crime should be prioritised.

Business robberies increased by 4.9 % from 19 698 in 2015/2016 to 20 680 for the last year, while the business burglaries figure also shows an upward spiral with 75 618 burglaries in 2016/2017.

Following a new-millennium low of 119 robberies reported in the 2014/2015 national statistics, the 2016/2017 graph shows an increase of 11% with 152 CIT robberies.

Sabric chief executive, Kalyani Pillay earlier this month revealed that the organisation had recorded 232 CIT incidents nationally this year from 1 January to 31 August. "An increase of 49% is evident when comparing this year to the same period last year," Pillay said. "There is much concern at the number of injuries and fatalities among CIT staff, as well as the damage caused to CIT vehicles in the incidents where criminals use explosives during these attacks."

The poverty statistics released by Statistics SA a few weeks ago confirm the high unemployment rate and aggravated poverty prevailing in our country. With this in mind, Phillips says, "While it would seem logical to ascribe the high levels of cash crime to the poverty rate, along with other factors like weak economic growth, continuing high unemployment levels, lower commodity prices, higher consumer prices (especially for energy and food), lower investment levels, greater household dependency on credit, and policy uncertainty, I am not convinced that this is an accurate assumption. I am of the opinion that the real issue is the re-emergence of organised criminal syndicates on our streets.

Professional and habitual criminals who are extremely well organised, skilled and financed, are attacking the retail sector, the CIT sector, as well as banks and ATMs in pursuit of large quantities of cash."

While Cash Connect was able to protect more than R40billion of its customers' cash for this year alone, Phillips says the big issue remains the prioritisation of cash crimes. "The SA Police Service have to ensure that crime intelligence, policing, the NPA and the courts collaborate with the cash industry in the interests of safeguarding the cash that feeds the retail and commercial economy," he says.

Based on past lessons and information contained in crime statistics, investment in three areas could be the answer for the retail and CIT industries.

Crime fighting

According to Dr Johan Burger, senior researcher at the Institute for Security Studies, we can draw on the lessons of the past. The priority crime initiative on bank and CIT crime, which was led by the South African Police Services and operated for at least six years through the turn of the century, was a cornerstone of the multi-faceted approach that brought CIT and other cash-related crimes under control before.

"South Africa reeled under 700 to 800 attacks a year in the 1990s," Burger says. "Crime intelligence and a tightly coordinated, professional response strategy worked then, and will again."

Burger's words are borne out by the far better flow of information and increase in arrests that have resulted from the task force the Minister of Police established in 2016 to focus on business crime and cash robberies.

"But more needs to be done," he says. "The CIT providers, and indeed retailers and the banking industry as well, have to keep lobbying the Justice cluster to operationalise the prioritisation of bank and CIT crime, and start working much closer with the industry to contain syndicated and organised crime. Fighting this type of crime has to be at least as sophisticated as the planning and execution that make it possible."

CIT investment in R&D

In recent years CIT providers have, ironically, become cash strapped. The rate to provide a client with CIT services has declined to the point where service fees no longer keep track with inflation.

"The margins that previously were available for R&D are simply not there anymore," says Phillips. "And as risks and attacks increase, our insurance costs skyrocket. In the meantime, the syndicates keep refining their methods and are becoming more successful and, consequently, more brazen again."

The case for sustained R&D is well proven. Cash Connect's cash vaults, which are built to SABS Category 4 standards, have acquired a reputation for their ability to withstand most of the toughest and most common attacks, providing a formidable deterrent. Moreover, the latest models are reducing the extent of collateral damage that has been a feature of historical attacks in which explosives are used and this is a further important milestone in the evolution of cash vault technology.

"The cash industry is of strategic importance to the South African economy," says Phillips. "Around 84% of all payments are still made in cash; we have R130 billion worth of cash in circulation." Against this backdrop, Phillips believes minimum CIT operating standards and service fees should be a matter of legislation.

Prevention starts on the shop floor

Research has shown that a staggering 90% of attacks on businesses are carried out with information gained from the inside. This suggests that employers can play a far greater role in safeguarding their own businesses by engaging with the people who work for them and investing in better workplace relationships.

Mari Lee, CEO of DevCom, a communication agency that specialises in helping businesses to change their processes to engage employees and external stakeholders in ways that directly contribute to the achievement of business results, agrees. "The dozens of research projects we've done over the years confirmed again and again that employees who feel respected, valued and listened to will do what is best for their company. Retailers should be motivated by the intelligence in the crime stats to invest time, effort and money in meaningful employee engagement."

Phillips concludes that South Africa's retail and CIT sectors are desperate for a critical intervention to curb cash crime.  By pushing for a coordinated approach of sharing crucial information among industry bodies and investing in crime intelligence, technology improvements and labour relations, the tide can be turned.  The time for action is now.

For more information on the latest #CrimeStats and tips for retailers to reduce your risk for an armed robbery visit www.crimestatssouthafrica.co.za or follow us on Twitter @cashconnectsus for real-time cash and crime statistics and news.

 

WHAT DOES CASH CONNECT DO?

Cash Connect ensures a streamlined cash management and payment solution that secures your cash, provides risk cover, offers working capital and business finance when needed and facilitates your supplier payments directly from the cash vault.

No more in-store or cash in transit insurance needed – we have it covered. From the moment your cash goes into the vault, whilst in transit, and until it appears in your bank account, we cover the risk. Your cash is guaranteed, side-stepping traditional insurance assessment delays and critical cash flow effects on turnover.

> Read more

WHY TRUST US WITH YOUR CASH?

It’s been more than 10 years since Cash Connect entered the South African market with cutting edge technology, a sound understanding of the cash risk in the retail space and a passion for service.

Today we boast a winning score board for innovation and protection of our customers’ business, as well as offering access to quick and reliable unsecured, short-term capital.

> WHAT OUR CUSTOMERS HAVE TO SAY

EFFICIENCY IS A PRIORITY

With Cash Connect, you can benefit from same day cash settlements, better cash flow, low cash deposit fees, reduced cash shrinkage and cut back on your back office administrative costs. You will save money on both in-store and cash-in-transit insurance costs and most of all, you will have established a massive deterrent against armed robbery.

> Read more

PEACE OF MIND

Our clients’ businesses are distinguishable by being retail spaces where the staff and their customers are no longer intimidated by the fear of attack and where the focus of attention has shifted to improving the working and shopping experience in every way.

> Read more

BEYOND SAFE

Cash Connect is a key component of a successful retail store and strives to make a unique contribution to South Africa’s burgeoning entrepreneurial SMME community.

We offer much more than just robust cash deposit vaults with which to process and protect your cash. We provide business efficiency – beyond safe.

> Read more

FREE CASH MANAGEMENT CONSULTATION

CLICK HERE
Copyright © 2020 Cash Connect.
PAIA DocumentationAll rights reserved.
facebook-icon
facebook-icon
facebook-icon
facebook-icon
CashConnect App
Get Instant Access to your cash and
apply for funding to grow your business
Cash Connect Instant Access App
Cash Connect Instant Access Play Store
Cash Connect Instant Access App Store
cash connect cash management solutions retail safe cash vault cti cti