Phillips said, “It is their time to be jolly, as they take advantage of the significant increase of cash in circulation. “While our retail sector might be reaping the benefits of the Easter cheer, it’s over this period that they stand a greater chance of being victims of an armed robbery.”
Phillips added that businesses which still used manual cash processing methods were most vulnerable during this time.
“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…”
Phillips provided businesses with the following tips to reduce their chances of being soft targets 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 payday.
- Take the time to investigate converting to an automated cash management service and take away all of the cash risk inherent in the above.
