As the festive season slowly approaches, Lowvelder has put together tips to avoid being a victim of cash robberies – for an individual and businesses.
According to South African Banking Risk Information Centre:
– Carry as little cash as possible
– Consider the convenience of paying your accounts electronically
– Consider making use of cellphone banking or Internet transfers or ATMs
– Never make your bank visits public, even to people close to you.
A small cash-based business that needs to deposit money on a regular basis, apply the following:
– Do not deposit money at the same time everyday
– Never make your bank visits public
– Avoid carrying money bags or briefcases
– Avoid openly displaying your deposit receipt book
– Do not bank at the same bank, get a close alternative
– If the amount of cash you are regularly depositing is increasing, consider using a cash management company
– Refrain from giving wages to your contract or casual labourers in full view of the public
– Consider arranging for electronic transfers of wages into contract or casual labourers’ personal bank accounts.
Source: South African Banking Risk Information Centre (SABRIC)