How much ATM bombings costs SA banks

ATM bombings have cost local banks at least R40 million rand so far in 2015.

This is according to EWN, citing the South African Bank Risk Information Center (Sabric).

Sabric CEO, Kalyani Pillay told EWN that, while ATM bombings have declined 27%, the company has seen an “increase in advanced methods used by criminals to carry out the robberies”.

The South African Police Service released crime statistics for 2015, last month, showing that bank robbery  was down 19.0%, while robbery of cash in transit was down 17.9%.

Rand Daily Mail reported that overall, banks lost about R100-million more than in 2014, to R300-million in 2015 from all forms of robbery.

Sabric’s data showed that the banking industry experienced a 23% decrease in cash-associated robberies for 2015 to date.

Marius de la Rey, head of Digital and Channels: Barclays Africa says consumers should heighten their awareness and vigilance against any form of banking theft which could rob them of their hard-earned cash.

A report by the Ombudsman for Banking Services’ (OBS) showed that ATM fraud is the highest cause of consumer complaints, growing by 7% to account for 44% of all cases received by the watchdog.

“So while direct robberies appear to be on the decline, card skimming and card swapping continue to pose a great risk to ATM customers,” de la Rey warned.

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How much ATM bombings costs SA banks