Although the retail world seems to be dominated by electronic card and mobile transactions, the reality is that cash is still king. So, while cash is still king, it will certainly remain high on the criminal agenda – well, at least in South Africa, which sees over 20, 000 retail armed robberies a year, all in pursuit of cash!
Cash Connect, SA’s leading provider of automated cash management and payment solutions, enables retailers to operate in a safe trading environment, while their robust cash vaults secure and guarantee the business owner’s cash. However, there are still many retailers who choose to manage and bank their cash in a manual way.
For those retail businesses who do not have a robust and automated cash management solution, here are five simple tips to consider to reduce their risk of being victim to cash crime:
- Alternate the days and times when doing cash deposits.
- Never broadcast your bank or ATM visits, even to staff.
- Avoid carrying cash in bags or briefcases.
- Use different bank and ATM branches to change your banking pattern.
- Avoid paying wages in cash and consider EFTs instead.
While cash-based businesses will make use of manual banking regularly, it is highly advisable to take the time to investigate converting to a robust and automated cash management service and take away all of the risk inherent in the above.