You should be aware of the dangers associated with carrying large sums of cash on your person, as the number of "follow-home" robberies linked to the use of banking services is increasing, the South African Banking Risk Information Centre (Sabric) says.
A "follow-home" robbery is when criminals identify their victims in advance and rob them once they have reached their destinations, Kalyani Pillay, the chief executive of Sabric, says.
There has been a disturbing increase in the number of people being robbed either en route to the banks to deposit cash or after having made cash withdrawals, Pillay says.
According to Sabric, the number of reported robberies linked to the use of banking services has increased by 36 percent for the year to date, while there was a 55-percent increase in such robberies between 2008 and 2009.
"While there is a high probability of under-reporting when it comes to follow-home robberies, it is cause for concern that the number of reported incidents to date almost equals those for the full 2009 year. Having large sums of cash on you creates opportunities for this type of crime, and simple behavioural changes, such as opting to make electronic transfers into beneficiary accounts, can completely eliminate the risks associated with carrying of cash," Pillay says.
It is not unusual for criminals to roam banking halls under the guise of being there for legitimate purposes, while scouting for people who are withdrawing large amounts of cash, she says.
"The risks can be considerably decreased by consumers. We are aware of incidents where people were robbed of really huge sums of cash that they should not have carried on their person in the first place," Pillay says.
Here are some basic rules you should follow to avoid becoming a victim of crime:
- Transfer money electronically via the internet, a cellphone or an ATM instead of withdrawing cash.
- Take note of of what is going on around you when you are en route to deposit cash at the bank or after withdrawing cash. If you suspect that you are being followed, drive to the nearest police station or inform a security guard.
- Ask someone you trust to accompany you if you will be carrying a large amount of cash.
- Do not follow a routine when doing your banking. For example, avoid visiting the same bank branch at the same time of the day on the same day of the week.