Cash Challenges and Risks

cash

Challenges and risks of all „cash” industries:

  • Worldwide economical crisis
  • Increasing unemployment rate
  • Increasing costs of labour and fuel
  • Increasing crime rates on real and electronic cash
  • Organized criminals with inside expertise
  • Non-deterrent security systems

 Risk assessment is an on-going task for executives and security officers in all industries that handle cash. 

Peter Villiger

atm

Banking / ATM

  • Financial crisis with huge impact on cost management
  • Increasing crime with skimming of debit card data
  • Dilemma of in- or outsourcing ATM network management
  • ATM‘s with high transactions at third party locations
  • ATM ram raids
  • ATM attacks with gas or explosives
  • Damage to buildings and environment
  • Attacks on cash replenishment
  • Not satisfying physical security measures
  • Not satisfying video control
  • Long out of service periods during cash replenishment

retail

Retail 

  • Cash is still the most preferred payment method worldwide
  • Manual cash counting needs time and may produce mistakes
  • Expensive cash recyclers pay back only for big stores
  • Lots of attention on discrepancy management
  • Internal theft is estimated to be about one percentage of turnover worldwide
  • Petty criminals attack cash at the point of sale
  • Shocked employees after an attack
  • Shoots in the shop with danger to employees and customers
  • Dilemma between overnight cash storage and daily CIT pickups
  • Attack during transporting cash to deposit bank safe

cit

CIT

  • Increasing operational costs
  • Shrinking profitability
  • Change of legislation
  • Variety of security systems
  • Counting and process mistakes
  • Internal theft
  • Whistle-blow of inside information
  • Attacks on pavement, cash delivery and pickup
  • Attacks on CIT vehicle
  • Tiger kidnapping
  • Heavy attack on cash center
  • Dead or injured employees