Tips To Avoid Becoming A Victim Of Cash Robberies

Sabric ( The South African Banking Risk Information Centre) have recently released their latest information on cash robberies which has actually showed a year on year decrease of 23%. The CEO of Sabric, Kalyani Pillay said that the decrease is somewhat thanks to bank clients who have decided to take notice of the call to not carry large sums of cash around.

Although cash robberies are declining, they are still prevailing. Mitigation efforts from law enforcement and the industry are being implemented in South Africa to address this scourge.

Guidelines from Sabric on what to be on the lookout for when it comes to potential cash robbers:

• Spotting: This is whereby criminals observe you while transacting inside the bank and then follow you to your home or business. Always be on the lookout.
• Money Bomb Scam: Whereby the criminal drops a roll of paper covered with a official bank note to attract your attention. They normally target you when you have made a large cash withdrawal from the  bank. When you attempt to pick up the cash, a co-perpetrator would also claim the cash and suggest they share it. 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 they just withdrew.

Tips to avoid becoming a victim of cash robberies:

• First of all you should consider alternatively using other banking methods like internet and cellphone banking.
• Carry as little cash as possible on you.
• Pay your accounts electronically.

Tips to avoid becoming a victim of business cash robberies:

• Alternate the times and days on which you deposit money.
• Never let anyone know when you are going to visit the bank. Trust no one when it comes to banking.
• Do not openly display money you are depositing while you are standing at the bank queue.
• Avoid obvious triggers like carrying money bags or briefcases.
• Avoid giving wages to your casual or contract employees in full view of the public.
• Consider arranging for electronic transfers of wages to contract or casual employees accounts.

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