Industry interventions see cash-in-transit robberies decline
13 August 2020
SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry noted the resurgence of cash-in-transit (CIT) robberies since the easing of lockdown restrictions in June this year. Despite fears that CIT robberies may be on the increase, there has in fact been a 5% decrease in incidents for 2020 when compared to 1 January to 12 August in 2019. This can be attributed to robust partnerships between ourselves, the cash-in-transit companies, government and law enforcement.
SABRIC CEO, Nischal Mewalall says: “Never before has collaboration been more essential. These robberies have the potential to severely worsen our economy which is already under severe pressure due to COVID-19 and we will continue to follow this synergistic, sustainable and collaborative model.”
In addition to collaborating with SABRIC, the CIT industry has launched the Cash-in-transit Association of South Africa (CITASA), which will further co-ordinate efforts to counter these violent attacks. CITASA will initially comprise the cash-in-transit companies SBV, G4S and Fidelity Cash Solutions but going forward, other organisations with similar strategic objectives will also be eligible to participate.
“Although the formation of CITASA is still in the process of being finalised, we are confident that this collaboration will significantly reduce these violent attacks, the risks to guards and bring criminals to book“ says CITASA spokesperson Grant Clark.
CITASA will continue to collaborate with SABRIC to leverage its collaborative structures, strategic partnerships and digital technology platforms which will provide critical information and vital statistics to ensure that investigations are supported and that perpetrators are successfully prosecuted.
“The CIT industry must be commended for its pro-active approach and SABRIC remains fully committed to supporting all initiatives to enable the fight against this scourge.“ says Mewalall.
Issued by SABRIC 13 August 2020
