Sabric financial losses amount to nearly half a billion rand

SAPS in Parliament
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The South African Banking Risk Information Centre (Sabric) projects financial losses will amount to nearly half a billion rand by year’s end. That’s unless the current raft of cash in-transit heists are not stemmed.

Sabric together with Police and other stakeholders were before the Parliamentary Portfolio Committee on Police on Wednesday.

In a presentation before the committee, Sabric, says the number of cash in transit heists has increased from 136 in 2016 to 152 for the first two quarters of this year. This translates to a 41% increase.

Sabric says if current trends persist, the cost will be R470 million by the end of this year.

Police Minister Bheki Cele has confirmed 10 arrests, six in Mpumalanga, three in Limpopo, and one in Johannesburg.

Unions have told the committee, poor working conditions and salaries make security guards susceptible to bribes.

The unions want salaries to increase from R12 000 to R20 000 per month. They also want better weaponry and safety standards for vehicles as well as training.

Lieutenant General Fannie Masemola Deputy Police Commissioner says: “Various units will gather intelligence in identified hot spot areas of the cities in the country. That intelligence will then be analysed at a central point and the products will then be given to operation units, the analysis.”