Bankers go for intelligent boxes to curb robberies

Armed police

During the same period soft skinned vehicles (those that are not bullet proof) increased from 38 per cent to 50 per cent in 2007.

“When it comes, there will be no need for banks to use armed police for guarding services,” said John Wanyela, chief executive of the Kenya Bankers Association.

He, however, said a reduction in costs from the use of the device will depend on how much it is retailing in the local market.

Kenya’s financial institutions generally outsource money transport business to security companies, with Security Group, Wells Fargo, G4S and Bob Morgan being the most visible in the segment.

But other analysts warned that these measures will not mean the end of CIT theft because the most recent cases involving G4S vehicles were made possible because the vehicles lacked tracking devices, purportedly pointing to insider-managed robberies.

Trends elsewhere show of robberies could however increase at the point where the intelligent boxes will be emptied.

In London, robbers ambush the intelligent box transported cash at the point where it is to be emptied especially in banks and ATMs and command the guards to open it at gun point taking the money without it being defaced.

Because of this reality, security companies said they will be considering maintaining armed guard at these points.