Cash Challenges and Risks
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
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
- 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
- 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
