South African Banking Risk Information Centre’s new campaign, #carryingcashsafely, warns community members against such crimes. The centre hosted a talk on their campaign in Vorna Valley on 24 July.
Kevin Twiname, general manager of the centre, warned community members not to share their banking details. He made mention of gogos in the townships and warned that they should not give their grandchildren their banking details. Township folk and small businesses seemed to be the main victims of crime, as these individuals are most likely to do business and transactions on a cash only basis.
“People need to consult with their banks, there are so many ways to do every single transaction without using cash. Banks need to encourage their customers to explore other avenues,” said Twiname.
On the distrust that exists between the South African consumer and electronic transactions, he said, “Trust has to built. It’s a dual role between banks and their customers.”
In 2013, Tembisa’s associated robbery rate in Gauteng was at 29 percent. That percentage has decreased to 21 percent at present. However, incidents as was reported in Caught in the act, week ending 4 July on follow-home bank robberies, indicate that it is still a problem for the Midrand area.
Kalyani Pillay, South African Banking Risk Information Centre CEO, warned, “These criminals are ruthless in their operation and will not hesitate in taking the lives of those they want to rob. For this reason we caution the public to be aware of this and practice other methods of banking rather than carry large sums of money.”
Individuals are advised to:
- Carry as little cash as possible
- Consider paying accounts electronically
- Make use of cellphone, ATM and internet banking.
Business are also advised to find alternatives:
- Do not have a routine bank, banking day and time
- Do not publicise your banking visits, even to those close to you
- Do not openly display money whilst you are in the queue
- Avoid carrying money bags or openly displaying your deposit receipt book
- As your business grows consider using the services of a cash management company.
On that note, Kevin said, “Small businesses should weigh the risk factors involved. You are probably a family person. It is worth it to spend an amount of money for the services of a cash management company, because this way, you are taking your life out of the equation.”
