Criminals are always alert to the opportunity to take advantage of people who carry cash on their person. Carrying cash has several benefits but also raises legitimate safety and security concerns. Robberies can occur when you are on your way to deposit money or after you have made large cash withdrawals.
When Do you Risk Cash Theft?
- Regularly carrying cash to make deposits at a particular bank branch.
- Drawing cash to pay employees.
- Making cash deposits for a stokvel or burial society.
- Drawing cash to pay retail accounts.
Tips to Avoid Becoming a Victim of Cash Theft?
- Avoid transacting with large sums of cash, try to use alternative payment methods such as your card, cheques or electronic facilities.
- Always be observant when carrying large sums of cash. If you suspect you are being followed, report to the police immediately.
- When carrying large sums of cash do not allow anyone to distract you and avoid conversations with strangers.
- Avoid informing people, even close associates, when you are going to draw or deposit money at a bank.
- Keep the amount of money you carry a secret, boasting about it may put you at risk.
- Do not carry cash in bank bags or other means which may imply you are moving cash.