In 2017, technology affects every part of our day-to-day lives, including how we handle money. As online banking becomes the norm, a decreasing amount of physical cash remains in circulation. However, with incidents of cybercrime and online malware spreads increasing too, there is still a place for handling cash in modern business, and cash-in-transit-security services like Prosek Security.
It is conservatively estimated that cybercrime costs the Australian economy around $1 billion annually according to the Department of Defence. Indeed, this value only refers to physical funding lost – it doesn't take into account the time cost to businesses who are victims of online criminal activity, with thousands of hours lost trying to combat these threats or fix issues. This staggering value indicates a shift in the way criminals operate. Now, they can operate remotely and become near untraceable online, able to function with little immediate repercussion or threat of justice.
With this potential online threat considered, Prosek Security offers a reliable and efficient security service with extensive experience in cash-in-transit operations, ensuring your business' assets are in capable (physical) hands with no threat of online attack.
The logistics of staff operating cash-in-transit operations can be daunting, with a variety of factors playing into the risk of transport. Managing these hazards includes choosing the right time to transport assets, what kind of vehicles you will use, planning routes and selecting reliable staff. Prosek offers optimal security for cash-in-transit services, and our officers are trained and experienced in operating every part of the journey effectively.
Often, this presence is for psychological purposes, with the sight of trained security enough to deter any theft attempts. When using online cash transfer services, there is little to intimidate or deter the bold efforts of cyber criminals and viral malware. Additionally, our security services are trained in conflict situations, which can prove useful if something goes wrong. Online, you have little recourse in finding technically-ruthless criminals or retrieving stolen assets.
Issues with online services
Online criminal activity aside, the risks of using online business banking exclusively are rooted in a reliance on your technology to function flawlessly. Website malfunction of banking services can result in lengthy delays for businesses, potentially affecting important deadlines. Similarly, internet services themselves are not exclusively reliable. In 2015-2016, 99.3 per cent of businesses in Australia relied on a broadband connection according to the Australian Bureau of Statistics.
Any failures in this system, from a provider malfunction to break-downs in individual businesses' modems can result in costly delays in money transit. Businesses in rural and remote areas are also at risk, with periodic power outages not uncommon, resulting in a risky increase in potential down-time for internet money transfer and banking.
Cash-in-transit security services also retains the advantage of extensive insurance cover for any mishaps or instances of theft. Cybercrime is still an area of legislative uncertainty, with stolen money able to be dispersed online irretrievably upon theft. Because of these logistical issues, insurance for physical cash handling remains more comprehensive, with cover available for loss or damage to assets for clients and security services. All parties can rest easier knowing that unforeseen theft or damage from the public can be remedied.
Protecting your assets is of the utmost importance to Prosek Security, and our team of trained and professional security logistics officers are able to handle every part of the cash-in-transit operation. We have a variety of secure transport options with state-of-the-art security technology and extensive training and operational procedures to ensure your assets are delivered on time and safely. For further guidance on how our security services can help your business, contact us today.