A technological battle to fight back against brazen cash-in-transit robbers has begun. But while advances are made in safety and security mechanisms to protect millions of rand in cash transported across SA daily‚ there is little‚ if any‚ legislation setting minimum standards for technology to be installed in vehicles or to compel cash-in-transit companies to use the technology. This was the message delivered at a panel discussion on potential solutions to cash heists‚ held outside Johannesburg on Tuesday. In 2017‚ according to those on the panel discussion‚ R165bn was transported by cash-in-transit companies across SA. Of that‚ R465m was stolen in just 10 heists‚ said panelists. The discussion‚ which involved the Gauteng government‚ police‚ Interpol and cash-in-transit security experts‚ saw the demonstration of technology to protect money transported by road and being delivered to and collected from shops. For such technology to be deployed it must be approved by the Reserve Bank a...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now