Richard Phillips, Joint CEO of Cash Connect Management Solutions, warned that while the retail sector might be reaping the benefits of the Easter cheer, it’s over this period that they stand a greater chance of being victim of an armed robbery.
Phillips said businesses that still use manual cash processing methods are most vulnerable during this time.
“The reality is that in South Africa there is already an average of 52 armed robberies against businesses each day and while we don’t have pinpoint statistics, we anticipate that this number will dramatically increase over Easter,” said Phillips
“During this holiday period, business and retail owners should be extra vigilant as criminals execute their attacks using sophisticated and organised methods.
“It makes this holiday period prime time for syndicates and gangs,” said Phillips.
He said the hit-and-run type armed robberies not only threaten the safety of customers and staff, but it is common knowledge that the targeted store can experience a significant drop in turnover for as much as six months after an attack of this kind.
Here are also few generic tips that can guide business owners in an attempt to reduce their chances of being a soft target for cash crime:
*Avoid broadcasting when cash will manually be taken to the bank for deposit.
*Do not openly display the money you are depositing while you are standing at an ATM or in a bank queue.
*Avoid carrying money bags or briefcases when approaching an ATM or when standing in a bank queue.
*Alternate the days and times on which you deposit cash.
*Make use of electronic transfers to avoid paying wages in cash to your staff.
*Alternate between bank branches or ATMs so your banking pattern is not easily recognisable.
*Refrain from driving to the bank in your company branded vehicle on a typical ‘pay day’.
“Take the time to investigate converting to an automated cash management service and take away all of the cash risk inherent in the above.”
