SBV talks about the cash in transit market
Despite many new payment technologies finding an accepting market over the past few years, cash is still king and the ability to safely and securely handle cash is a critical issue in a variety of markets. Hi-Tech Security Solutions spoke to Mike Shipton from SBV Services for a look at the current state of the cash-in-transit (CIT) market.
The good news is that CIT crime has decreased substantially from the days when it was almost a daily occurrence. Shipton says there are two reasons for this change.
“Firstly, SAPS has taken a firm line on CIT crime,” he says. “Using its intelligence resources and a thoroughly professional approach by its members, SAPS has caught and imprisoned many of those responsible for these crimes. More than simply catching the criminals, SAPS has also managed to play a major role in preventing these crimes.”
The second reason for the decline is the increased security on CIT vehicles and the associated security systems companies employ. “SBV’s approach is that providing a safe working environment for our staff will automatically translate into improved cash management as confident staff are more inclined to protect the assets they are carrying.”
From the point of view of its vehicles, SBV has worked closely with the CSIR and Armscor to ensure all its vehicles are manufactured to an acceptable ballistic standard that protects the life of those inside. The vehicles also have improved access control systems, including biometrics.
In addition, all cash transported is protected by a solution developed with the CSIR, called PUDU (polyurethane dispensing unit). If a vehicle is attacked, PUDU ensures that the cash is encased in hard foam within a few seconds, making it useless to the criminals.
The right staff
Another crucial aspect of SBV’s success in cash management is its staff. Shipton says the company has implemented various recruitment procedures to ensure it hires the appropriate people. These include the usual reference, credit and criminal records checks, but are supplemented with voice stress analysis tests to gauge the individual’s vocal response to various questions.
“This is the same technology used by the FBI and CIA and it helps ensure prospective employees are not members of a syndicate, for example,” he adds. “With the right people on board and the right vehicle, it is easier to make sure our client’s assets reach their intended destination. Lloyds of London has repeatedly rated SBV as one of the best CIT companies.”
Less movement of cash
Shipton also mentioned other projects the company is involved in that reduce the cash movement in the retail environment. The project with Business Against Crime and other partners at the Eastgate mall, for example, is reducing the number of times cash is moved each day.
The cash generated at the stores is centrally consolidated in a cash centre within the mall, recycled as required to ATMs and stores, while the excess is moved less often in a specific trolley that will destroy the cash inside if it is tampered with. Not only does this reduce the number of CIT operations significantly, it also dramatically reduces the possibility of shootouts catching shoppers in the crossfire.
While awareness of criminal threats is always top of mind, the current decrease in incidents will allow companies like SBV to focus on improving the efficiency of their operations and reducing costs in the coming year.
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