A key fleet for financial institutions, cash-in-transit vehicles are responsible for transporting valuable assets. Therefore, they must be properly secured. Networked surveillance is an effective solution for this purpose. It is a high-performance surveillance system that uses 4G/LTE technology to monitor and protect cash-in-transit vehicles. The article also discusses the global market for these vehicles.
Emerging threats to the industry
Cash-in-transit vehicles are heavy armored vehicles built specifically to protect the currency inside from theft. These vehicles have bullet-resistant walls and windows and reinforced floors to resist explosive attacks. They also ride on a reinforced chassis to ensure a secure environment. These vehicles are typically used by financial institutions and other businesses that deal in highly valuable items.
Criminals remain a major target for cash in transit vehicles. These vehicles are common in places with high concentrations of cash, including banks, large retailers, and even public transportation systems. As such, these vehicles are frequently targeted by robbers, who aim to steal high-value cash.
Despite this potential threat, the transit vehicle industry is expected to see growth in five years. The growth is expected to be due to increasing demand for the industry’s services. However, the sector is expected to face a number of threats, including increased competition and a surge in noncash payments. Another emerging threat to the cash in transit vehicles industry is the risk of physical damage caused by cyber attacks. For example, a cyber attacker may take over the digital dashboard of a truck carrying fresh produce and shut down its cooling system, resulting in spoilage and loss of thousands of dollars in food.
Security measures required for transporting valuables
Transportation of valuables by transit vehicles requires a number of security measures. These measures are not only for passengers’ safety, but also for the integrity of facilities and personnel. They can also protect data and supporting information systems. Improving security against these threats can reduce losses and costs from direct attacks, indirect costs, and increased insurance premiums. In addition, they can help to prevent the illegal transport of counterfeit goods.
Media and data are especially important to secure. Transporting these items requires strict controls, such as locks on transport units, or even GPS tracking devices and switches that de-magnetize the media if it’s stolen. It is also important to disguise the transport device to prevent theft. For example, the device may be disguised as a standard briefcase or a small backpack. Additionally, it is important to ensure that guards on duty see photo identification before allowing personnel to take out valuable media or data.
Ensure proper training for staff. Employees should be fully aware of security measures that are necessary to keep cash safe during transit. Employees should also be well-trained to avoid robbery or other emergency situations. Trained staff should also ensure that bags are properly sealed to prevent unauthorized access. The use of tamper-proof bags can also help to eliminate paperwork errors.
Global market for cash-in-transit vehicles
With rising crime and increased circulation of cash, the global market for cash-in-transit vehicles is expanding at a significant rate. The primary buyers of these vehicles include banks and financial institutions, large retailers, and governments. The Asia-Pacific region is expected to dominate this market throughout the forecast period. This region is home to some of the world’s fastest-growing ATM industries, with China and India leading the way. These countries have well-established cash-in-transit services.
Security measures are an essential component of cash-in-transit vehicles. The use of high-security locks and sophisticated alarm systems help reduce thefts and ensure the safety of cash-in-transit vehicles. In addition to these features, many of these vehicles offer climate-controlled interiors and excellent maneuverability. Many of these vehicles are equipped with coded infrared sensors that can detect potential intruders.
Robbery of cash-in-transit vehicles is on the rise, with incidents increasing exponentially in recent days. As a result, cash logistics agencies are less likely to operate successfully in South Africa. This lack of customer confidence is inhibiting the growth of the industry.