BE CAREFUL WITH CASH
The festive season is on our doorstep! Regrettably, this is also the season when criminals up their game.
As a precautionary measure, the police would like to warn members of the community to avoid carrying large amounts of cash.
Potential victims are identified after a cash withdrawal has been made either from inside the bank or at automated teller machines (ATMs). They are then followed to their residences, places of work, vehicles or any other place where it is easy to rob them.
It is apparent that ‘spotters’ operate inside the banks and communicate the victims’ description to accomplices, who wait outside the bank.
Small business owners are especially at risk, when drawing cash to pay wages.
Often, robbers are armed and will resort to violence if the victims resist. These kinds of robberies are not limited to urban areas, but also occur in rural communities.
There are safer ways to do transactions, such as internet transfers or mobile banking, instead of carrying large amounts of cash.
TIPS TO REDUCE YOUR RISK
Carry as little cash as possible and consider the convenience of paying your accounts electronically. Make use of cell phone banking, internet transfers or ATMs to do your banking.
Never make your bank visits known. Vary the days and time on which you deposit cash and never openly display the money you are depositing while you are standing in the bank queue. Avoid carrying moneybags, briefcases or openly displaying your deposit receipt book.
It is advisable to identify another branch nearby that you can visit to ensure that your banking pattern is not easily recognisable or detected.
If the amount of cash you are regularly depositing increases as your business grows, consider using the services of a cash management company.
Refrain from giving wages to your contract or casual labourers in full view of the public; rather make use of wage accounts that can be provided by your bank or deposit into labourers’ personal bank accounts.
TIPS FOR STOKVEL GROUPING
Refrain from making cash deposits of club members’ contributions on high-risk days like a Monday after month end. Ensure that there are at least two people from the club when making deposits or withdrawals.
Deposits should be transferred directly into the club’s account instead of collecting cash contributions. Arrange for the club’s pay-out to be electronically transferred into each club member’s personal account or accounts of their choice.
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