Cash-in-transit heists are down but cyber crime is on the increase

Digital banking crimes increased by 75.3% in 2018. 
Image: 123RF / Glebstock

While other banking-related crimes increased in 2018, there were drops in cash-in-transit (CIT) heists by 22% and ATM attacks by 7%.

“We are pleased that cash-in-transit (CIT) robberies decreased by 22% from 376 to 292 incidents from 2017 to 2018. Cash losses here also showed a decrease of 22% for the same period,” the South African Banking Risk Information Centre (Sabric) CEO Kalyani Pillay said at the launch of its 2018 crimes stats in Sandton on Wednesday.

“ATM attack incidents using explosives increased by 26% during 2018 when compared with  2017, however losses decreased by 15% for the same period. Although there was an increase in recorded attacks during 2018, most (70%) of them were unsuccessful and may have been perpetrated by inexperienced criminals,” Sabric said in its report.

The most common violent crime was customers who were robbed after drawing money from ATMs.

Read more of the story on TimesLIVE




Please enter your comment!
Please enter your name here