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Cash-in-transit heists are one of the most dramatic illustrations of a crime wave that’s shocked even the most hardened South Africans, with murder at a 20-year high.
Cash-in-transit (CIT) or cash/valuables-in-transit (CVIT) is the physical transfer of banknotes, coins, credit cards and items of value from one location to another. The locations include cash centers and bank branches, ATM points, bureaux de change , large retailers and other premises holding large amounts of cash, such as ticket vending ...
The explosives are used to bomb ATMs, rob cash-in-transit vehicles, for illegal mining operations, or more recently as a tool of extortion during robberies. The Explosives Act of 2003 and its supporting regulations have not been implemented as of 2021, [ 454 ] and law enforcement relies on the outdated Act 26 of 1956 and regulations that were ...
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An intelligent banknote neutralisation system (IBNS) is a security system, that is used by banks, ATMs, retail establishments, vending machines [citation needed] and the cash-in-transit industry, to render stolen funds un-useable and easily identifable. Dye packs are inserted between bills in random bundles.
Hill confessed, implicating the five other robbers, and three other men who had assisted in laundering the money. [3] Pace was sentenced to 24 years in prison in 2001; Boyd was sentenced to 17 years, and the other four robbers received sentences ranging from 8 to 10 years. Two of the men who assisted in money laundering were sentenced to 2.5 years.
[1] [2] [3] The incident occurred on 9 February 2020 in which an indeterminate amount of cash was stolen. Arthur Fraser , an ally [ 4 ] of former President Jacob Zuma alleged that around 4 million US dollars (60 million rand ) of undeclared foreign currency had been stolen.
The Neshaminy Mall, once a powerhouse of Lower Bucks County retail, is for sale “as is,” according to a real estate listing. The fixer-upper, owned by Brookfield Properties sits nearly empty ...