Cash-in-transit heists could lead to losses of R470m, Parliament hears

Cash-in-transit heists will lead to cash losses of R470-million this year if the current trend continues, the Portfolio Committee on Police heard on Wednesday. The meeting brought together a range of stakeholders concerned with cash-in-transit heists, including the South African Banking Risk Information Centre (Sabric). Forty-nine vehicles have been lost so far this year, at a cost of R64-million to the industry, according to Sabric’s presentation to the committee. According to Sabric’s …