Cash Risk in Retail - South Africa - Cash Connect
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Well researched, informative study of the CASH RISK SHIFT to Retailers in South Africa. Retailers have a 1 in 5 chance of falling victim to an attack, yet it is avoidable with the right strategy. Business crime has moved from Banks & Cash in Transit Companies…. to RETAILERS.
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Cash Risk in Retail - South Africa - Cash Connect
- 1. Cash Risk Shift… …Acute or Obtuse? …Staff, Customers…Emotional Bank Accounts > we take the risk
- 2. The Risk Shift… Retailers have become the “Softest” Target > we take the risk
- 3. The Shift… In the early 2000’s Bank & CIT robberies reached an all time high. These sectors HARDENED their “targets” and attacks dropped markedly. With Cash being the primary target of 95% of business attacks, the demand for cash remained. Criminals shifted their efforts to softer targets…THE RETAILERS. During the decline of Bank & CIT Robberies, there was a simultaneous INCREASE on Business Robberies and has remained on the increase ever since. Retailers are the new Soft Target > we take the risk
- 4. The route of all evil… Armed robberies RSA 16000 14000 12000 10000 8000 6000 4000 Banks & CIT’s Robberies Total 0f 152 2012/13 2000 0 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 Bank robbery CIT robbery Business Robbery SA Police Services Cash is the target of 93% of business attacks > we take the risk
- 5. What’s the solution? Be aware that: 1. 95% of business robberies are primarily for cash 2. 93% are done with “insider” participation 3. Criminals KNOW how “soft” you are and whether a robbery is feesible. Install a solution that: 1. Your cash management solution should REDUCE your risk of an attack. If it is a hardened site, criminals will know. 2. Your cash should be insured from the INSTANT you deposit it in the safe/vault. DON’T: Never install a safe that simply meets the minimum standards for cash insurance, it will not reduce your risk of an attack. Loss of life or limb, the impact on your customers and the inevitable drop trading can be expected from such an attack. Reduce your risk and maximise your cash guarantee > we take the risk
- 6. Thank you We take the risk > we take the risk