A man sells a top of the range vehicle at a car garage along Prince Edward Avenue, deal concluded, he collects his cash and heads home to Madokero. Before he reaches home, he is robbed and US$40k is lost in the process!
In Waterfalls, armed robbers got away with US$56k and R28k after raiding a home 3 weeks back. Last week on Thursday, a family was attacked by robbers around 7:00pm with the robbers getting away with an undisclosed amount of money.
Another private school was mobilising funds for the purchase of a school bus, they held several meetings with parents who paid various amounts in cash. When they had accumulated enough resources—robbers pounced and they demanded the exact amount in the possession. One of the parents definitely involved!
In Norton, robbers followed a popular business man, they masqueraded as builders next door at an open space and started small work inorder to mask their monitoring project. They were patient for a good 30 days before pouncing on his home and disappearing with more than US$40k.
We wrote about this some few months ago that we were entering a dollarization period and this meant most transactions conducted in US Dollars cash. With our economy highly informalised, this means billions of dollars circulating in the informal sector with homes and offices used for safe keeping!
Transportation of cash=vehicles,
Safe keep=homes or offices,
High value transactions mostly involve sell and purchase of vehicles, residential stands and properties, school fees, company purchases and others.
Time of home robberies: Between 7:00pm and 9:00pm
How are robbers getting access to information of cash stored?
- Those involved in gold mining or trading are at High risk,
- If you are a business person with operations in the area of residence=High Risk,
- If you are conducting business at home—with clients visiting your premises=High Risk,
- If you withdraw large amounts of money from banks=High Risk,
- Private or other schools that receipt greenbacks =High Risk,
- If you disclose information on intention to purchase or sell high value items=High Risk,
- If where you stay is known or your movements known=High Risk,
- Driving top of the range vehicles or vehicles with foreign plates=High Risk,
- Driving late at night or your travelling habits predictable=High Risk,
Mitigatory Measures
Do a risk analysis on the cash that you handle. What if it’s stolen? Should you keep all cash in hand or bank it?
What information are you disclosing to the public about your location, movements, amount of wealth you possess and welfare? Times are different—these are high risk times—review your security plan especially information recklessly dished out.
Are your employees complaining about low salaries or non payment of salaries whilst you collect huge amounts of money from sales? Pay them market or reasonable salaries. Most robberies are coming from inside information and in most cases from disgruntled employees.
Conducting business operations from home? Even poultry farmers are getting robbed of their chickens. Do not allow clients on your premises—rather meet clients some safe distance away from your premises.
Buying or selling vehicles? First do not do this at your home, secondly if you intend to bank it, then better do so near bank and immediately enter the banking hall and safely deposit funds. If it’s a cash transaction then better visit a police station to reduce risks. Our advice is try by all means necessary to avoid carrying huge amounts. Do not move from car sale to the next with the intention of buying vehicles—you send a signal to robbers!
Consider engaging security companies in case of huge funds transactions. Yes its costly but saves you the headache of losing all of your funds.
We expect the economy to slowly open up as Covid-19 cases plateau but this could mark a high risk period for entrepreneurs as evening movements will increase and it is the period preferred by robbers.
Schools should avoid at all costs receipting and keeping cash on their premises as they may not have enough security. They need to be aware that receipting cash in public increases risks just like the case study of the school bus purchase covered above.
On a parting shot—avoid travelling long distances in order to effect a payment or collect cash. This will be like walking into a lion’s den—you don’t know the area enough, you are meeting strangers and it’s anybody’s guess what will happen next.
