The South African Banking Risk Information Centre (Sabric) has released its\u00a0latest information on\u00a0cash robberies, which showed a year-on-year decrease of 23%.<\/p>\n
This decrease, said Sabric\u00a0CEO Kalyani Pillay, is partly thanks to bank clients who have decided to heed the call to not carry large sums of notes around.<\/p>\n
While cash robberies are declining, they are still prevalent.<\/p>\n
Sabric\u00a0said that mitigation efforts from\u00a0law enforcement and the industry are being implemented to continue to address this scourge.<\/p>\n
Sabric\u00a0provided guidelines on what to be on the lookout for when it comes to potential\u00a0cash robberies.<\/p>\n
Spotting<\/strong> \u2013 where criminals observe bank clients while transacting inside the bank and then follow them home or to their business\u00a0\u2013 this remains a problem.<\/p>\n
The Money Bomb Scam<\/strong> is another big problem. Here the criminal drops a roll of paper, covered with an official bank note to attract the attention of an identified target.<\/p>\n
The target in most cases is a bank client who has just made a large cash withdrawal from the bank.<\/p>\n
Once the client attempts to pick up the cash, a co-perpetrator would also claim the cash and suggest they share it.<\/p>\n
The sharing of the cash usually occurs at a location away from the bank where the bank clients is then robbed of the cash that he or she just withdrew.<\/p>\n
Alternatively, a co-perpetrator impersonating a police official would confront both client and accomplice, claiming to investigate the circumstances surrounding the cash.<\/p>\n
Both the client and accomplice would be placed under arrest and informed that they would be taken to a police station. However, they are all taken to a secluded area where the bank client is robbed of the cash withdrawn from the bank.<\/p><\/blockquote>\n
\u201cTo avoid these robberies and the risk of loss of life, we urge bank clients to rather consider using alternative banking methods, such as Internet and cellphone banking,\u201d said Pillay.<\/p>\n
Tips to avoid becoming\u00a0a victim of cash robberies<\/h3>\n
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- If you need to pay accounts, consider options that are lower risk instead of withdrawing large sums of cash.<\/li>\n
- Carry as little cash as possible on you.<\/li>\n
- Consider the convenience of paying your accounts electronically.<\/li>\n
- Consider making use of cellphone banking or Internet transfers, or ATMS to do your banking.<\/li>\n<\/ul>\n
Tips to avoid becoming\u00a0a victim of business cash robberies<\/h3>\n
A small business which is cash-based should apply the following tips:<\/p>\n
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- Alternate the days and times on which you deposit cash.<\/li>\n
- Never make your bank visits public, even to people close to you.<\/li>\n
- Do not openly display the money you are depositing while you are standing in the bank queue.<\/li>\n
- Avoid carrying money bags, briefcases, or openly displaying your deposit receipt book.<\/li>\n
- It is advisable to identify another branch nearby you that you can visit to ensure that your banking pattern is not easily identifiable.<\/li>\n
- If the amount of cash you are regularly depositing is increasing as your business grows, consider using the services of a cash management company.<\/li>\n
- Refrain from giving wages to your contract or casual labourers in full view of the public \u2013 rather make use of wage accounts at\u00a0your bank.<\/li>\n
- Consider arranging for electronic transfers of wages to contract or casual labourers\u2019\u00a0accounts.<\/li>\n<\/ul>\n
More on banking<\/h3>\n
South Africa\u2019s best and worst banks list<\/a><\/strong><\/p>\n
SA banking CEO pay vs the world<\/a><\/strong><\/p>\n