FOR criminals, the Easter holidays are good for business, as they take advantage of the significant increase of cash in circulation.
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, said Richard Phillips, joint CEO of Cash Connect Management Solutions.
He said businesses that still use manual cash processing methods are most vulnerable during this time.
Phillips said the reality in South Africa is that there is already an average of 52 armed robberies against businesses each day and it is anticipated that this number will dramatically increase over Easter.
“During this holiday period, business and retail owners should be extra vigilant as criminals execute their attacks using sophisticated and organised methods – making this holiday period prime time for syndicates and gangs. Their 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, not to mention the possible loss of life or limb,” said Phillips.
He said while there are various cash management service providers, business owners should make sure to choose one that has the capacity to remove the risk of an armed robbery. He said people should avoid broadcasting when cash will manually be taken to the bank for deposit and not openly display the money they are depositing while 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, and alternate the days and times on which you deposit cash.
Make use of electronic transfers to avoid paying wages in cash to your staff and alternate between bank branches or ATMs so your banking pattern is not easily recognisable. Also, refrain from driving to the bank in your company branded vehicle on a typical ‘pay day’,” he said.
Phillips said businesses should take the time to investigate converting to an automated cash management service.
