The Minister for Justice, Equality and Law Reform Michael McDowell, T.D., today met with senior representatives of the major cash in transit companies, the major financial institutions and the Central Bank and Financial Services Authority of Ireland to discuss the recent cash in transit robberies. 

The Minister once again condemned these outrageous crimes and repeated his view that they could not be regarded as victimless.  He expressed satisfaction that yesterday's attempt at a robbery from a cash-in-transit vehicle had been unsuccessful and he complimented the quick action of the staff involved. The Minister also paid tribute to the Gardaí whose prompt action yesterday foiled an armed raid in North Co Dublin, which led to the arrest of four dangerous criminals.

The Minister said that at a very frank and positive meeting he impressed upon all stakeholders the absolute priority of ensuring that the movement of cash in the State would be governed by best practice. 

The Minister asked the stakeholders to report to him on the progress being made in relation to implementing the agreed Voluntary Code of Practice. He recalled that significant advances had been made in the course of last year which led to the finalisation of the agreed voluntary code for handling cash deliveries in a secure way. This agreement represented a partnership approach by the main players, including the banks, security companies, the Central Bank and the Gardaí. 

While he was heartened to learn from the meeting that a continuous strategy of improvement is now in place, the Minister informed the companies that he would like to speed up these reforms.  "There was a need", said the Minister "to ensure continuous improvement in standards on the part of the financial institutions and the security companies."

He told the meeting that he supported the decision of the Chief Executive of the Private Security Authority who had indicated her intention to bring forward, at the earliest opportunity, licensing for the cash-in-transit sector of the Security Industry. The Minister confirmed that adherence to the Code of Practice will be an integral part of the licensing regime and companies who do not comply with the Code of Practice will not be licensed to operate in the cash movement sector. In this context, the Minister said that he was prepared to discuss any difficulties being experienced by the companies.  However, all those in the cash movement business must take full responsibility for the security of cash in their care, at all points along the supply chain.

The Minister told the companies that important lessons could be learned from the recent robberies. It was not acceptable that security procedures, even those which required no additional investment, had been ignored or were absent. While he recognised that all the companies - whether it be the Banks who placed the contracts for cash movements, or the security companies who operated the service - all sought to seek maximum value, there came a point where the law of diminishing returns applies, if security is compromised. The significant profits generated by the banks depend upon a stable society.  It is, therefore, in the interests of the banks as well as the security companies to invest in the people and technologies that will deter robberies of the type we have just recently witnessed.  The Minister said that the expertise and advice of the Garda Síochána would continue to be made available to the security companies in ensuring compliance with best practice. 

The Minister also said that he had recently met with Mr Jack O'Connor of SIPTU and he has agreed to meet with worker representatives from the cash-in-transit industry.

7 April 2006