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How to Protect Cash Vans and Cash in Transit from Robbers?

Cash is an easy target for robbers and thieves, and even insiders. Transporting and storing cash is therefore a high risk job.

There is always news on how a cash van got attacked and in many cases the attackers decamped with loads of cash. In the last few months itself there were many cases across Delhi, Bangalore, Chennai, Punjab, etc as seen below.

In many cases it is an insider’s job, and also the police manage to catch the culprits after a few days. But what is done is the damage to the reputation of the cash management company, as well as the credibility of the Bank involved.

There are 4 things you could do to reduce the risk.

1. Background checks for all the personnel involved.

It goes without saying that you need to do a comprehensive background check of all the people involved.

  • ID checks – Are they the same people who they claim to be ? Are they hiding anything ?
  • Address Checks – Are they staying in the place where they claim to be staying ? Can you trace them back in case of an incident ?
  • Criminal Antecedent Checks – Are there any past criminal charges against the person, anywhere across the country ?
  • Police Verification Checks – Are there any complaints against the person in the local police stations ?

2. Deploy Armed Security Guards.

It is a no brainer to have armed guards when transporting cash, but there have been cases where the guard was missing inspite of this being a Police and RBI guideline for Cash Logistics companies to provide at-least 2 employees along with an armed guard in the van. therefore makes sense to stress. Also, the guards should have undergone a comprehensive background check listed above.

3. Training on Likely Scenarios.

Something that most people neglect is the training part. It is very useful if the people involved are trained on the likely scenarios. Some common trainings could be as below:

  • How to be aware of the surroundings ?
  • How to be alert to know that someone is going to attack ?
  • How to defend and retaliate ?
  • How to safeguard the money ?
  • How to safeguard life and prevent injury to colleagues, bystanders or customers of the bank (if it happens at the ATM) ?
  • How to capture key clues that can help police nab the culprits ?

In some cases, there is a training, but it is only for the sake of a training, there is no checks or ways to know if the staff has internalised those trainings.

4.Limit Vault Access to the Bare Minimal

It makes a lot of sense to use technology to limit the access to cash to the bare minimal – to the right people at the right moment only – i.e by the 1 person who will be handling it, for the minimal period of time needed to do the job. It reduces the risk of mis-handling a lot.

Also,

NSDC (National Skilling Development Corporation) is working on a NOS (National Operational Standard) for this sector. You can see the work-in-progress document here on NSDC Website

BetterPlace can help Cash Logistics and Security Services companies with Background Verification, Training, and other services like Attendance Management. More details about our services click here. 

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