How to ensure safety of cash in transit
Feb 23, 2005
ONE of the most ridiculous stories I have read this year was that of the three Securicor Gray guards, who took off with sh700m belonging to Stanbic Bank.
ONE of the most ridiculous stories I have read this year was that of the three Securicor Gray guards, who took off with sh700m belonging to Stanbic Bank.
Apparently on their way to Iganga from Mbale district, the guards abandoned the truck and took off with the money at Agururu. Even the officials in the escort vehicle just gave an excuse that they lost contact with the bullion van, only to find it abandoned.
While reading and listening to the story, I felt like I was being fooled. I’m sure everyone, who deals in the business of transporting cash should really know the basics of safety of this valuable option while in transit. This is because cash is the most wanted item by criminals.
Of course, some of the first rules in this business is that secrecy of the movement of cash must be highly maintained. Even those, who are going to escort the money or the driver should not know of the journey until just a few minutes, less than five, before the journey. As the driver gets behind the steering wheel, he should not know which route he is going to take. He gets the route instructions when the money and the guards are safely seated in the vehicle.
In most instances the driver and the guards are locked in the vehicle. After all, these are often armoured vehicles and designed to allow the occupants defend themselves in case of an attack.
In addition, the bullion van is supposed to be divided into compartments. The driver should not be able to communicate with the guards. There must be secure, armoured and soundproof buffers between the two.
The money should be in a strong safe inside the van, which is securely welded on to the floor and locked. The key to the safe should be kept by the manager in charge of the cash in transit, who must be in another vehicle, or the key can be passed on the receiving bank in advance. Most safes are locked by a combination of numbers. The numbers are communicated to the manager at the receiving end. In this case even if the guards and the driver wanted to steal the money, they would not have access to the safe.
When the money is in transit, routes must be timed. In the event on non-arrival at the destination within an agreed tolerance period, inquiries should be started to trace the vehicle immediately.
The bullion van must be accompanied by an escort vehicle, which is open and with a good number of able-bodied armed personnel. Such a vehicle should always travel in a convenient distance behind the cash carrying vehicle, taking care not to become separated in the traffic.
During transit, the bank authorities stay in constant communication.
The in-charge of the operation also needs to keep a record of the police telephone numbers he can call for assistance in case of any problems.
Banks should vary the routes being used during the transit, vary the staff involved(guards, drivers, escorts), securing the premises where money is being loaded and offloaded and avoiding any routine.
Apparently on their way to Iganga from Mbale district, the guards abandoned the truck and took off with the money at Agururu. Even the officials in the escort vehicle just gave an excuse that they lost contact with the bullion van, only to find it abandoned.
While reading and listening to the story, I felt like I was being fooled. I’m sure everyone, who deals in the business of transporting cash should really know the basics of safety of this valuable option while in transit. This is because cash is the most wanted item by criminals.
Of course, some of the first rules in this business is that secrecy of the movement of cash must be highly maintained. Even those, who are going to escort the money or the driver should not know of the journey until just a few minutes, less than five, before the journey. As the driver gets behind the steering wheel, he should not know which route he is going to take. He gets the route instructions when the money and the guards are safely seated in the vehicle.
In most instances the driver and the guards are locked in the vehicle. After all, these are often armoured vehicles and designed to allow the occupants defend themselves in case of an attack.
In addition, the bullion van is supposed to be divided into compartments. The driver should not be able to communicate with the guards. There must be secure, armoured and soundproof buffers between the two.
The money should be in a strong safe inside the van, which is securely welded on to the floor and locked. The key to the safe should be kept by the manager in charge of the cash in transit, who must be in another vehicle, or the key can be passed on the receiving bank in advance. Most safes are locked by a combination of numbers. The numbers are communicated to the manager at the receiving end. In this case even if the guards and the driver wanted to steal the money, they would not have access to the safe.
When the money is in transit, routes must be timed. In the event on non-arrival at the destination within an agreed tolerance period, inquiries should be started to trace the vehicle immediately.
The bullion van must be accompanied by an escort vehicle, which is open and with a good number of able-bodied armed personnel. Such a vehicle should always travel in a convenient distance behind the cash carrying vehicle, taking care not to become separated in the traffic.
During transit, the bank authorities stay in constant communication.
The in-charge of the operation also needs to keep a record of the police telephone numbers he can call for assistance in case of any problems.
Banks should vary the routes being used during the transit, vary the staff involved(guards, drivers, escorts), securing the premises where money is being loaded and offloaded and avoiding any routine.