How safe is your cash?

May 2018 Financial (Industry), Security Services & Risk Management

Cash-related crimes are like a plague to South African society. Millions of Rands are lost to the economy each year, not to mention the loss of many lives in the process.

Richard Phillips.
Richard Phillips.

Working from the premise that prevention is better than cure, Cash Connect has invested considerable resources into the design, testing and manufacture of the safest in-store cash vaults possible. And the latest research results confirm that the strategy is paying dividends.

Richard Phillips, joint CEO of Cash Connect, says his company’s technology has been vigorously tested and proven to be the most effective deterrent to cash crime in the market. “Stores using our cash vaults were attacked far less than any other, despite an increase of more than 30% in attacks against the industry in the past year. These results clearly demonstrate the success of our strategy of deter, deflect and defend.”

A further telling statistic is the 19% decrease in attacks on Cash Connect’s vaults in 2017 over 2016, despite the company’s almost 40% year-on-year growth. This indicates that Cash Connect customers [retail stores] remain significantly safer than those serviced by competitor solutions.

Cash Connect processes over R60 billion a year on behalf of blue-chip customers such as Spar, Shell, Engen, Pick ‘n Pay and OK, to name but a few. The company’s range of robust cash vaults, all built to minimum SABS Category 4 standards, are rapidly growing their presence in retail stores across the country.

“In the 2017 calendar year, 51% of attacks on our vaults were bombings; we defended 92% of them,” says Phillips. “In the other 49% of attacks, an assortment of tools was used to try and gain access to the cash. We defended 81% of these attacks.”

With such an exemplary risk record, it is easy to deduce that the reputation of Cash Connect vaults is a powerful deterrent.

Given research showing that 90% of all attacks occur with insider participation, Phillips encourages retailers to use the reputation of Cash Connect vaults to their advantage. “When staff know that a Cash Connect vault offers a high level of resistance to attack, the criminals will soon get the message and move on. When the stakes are high, and time is of the essence, criminals opt for softer targets that are easier to crack.”

Safety, however, is not the only benefit Cash Connect brings to the retail table. As South Africa’s most successful independent provider of automated cash management and payment solutions, it empowers retail businesses with services that create greater efficiency and improved cash flow and offer quick access to capital with which to grow their businesses.

“Our goal is to enable businesses to move from a place of safety, to a place of growth,” says Phillips. “We do this by offering improved efficiencies, reduced risk, multiple payment functionality and access to working capital. With us, business owners have a partner in retail success.”

For more information contact Cash Connect Management Solutions, +27 (0)11 010 4300, info@cashconnect.co.za, www.cashconnect.co.za


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