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Security sector warns against keeping large sums of money in homes

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Story by Peter Chivhima

STAKEHOLDERS in the private security sector have called on the public not to keep large sums of cash in their homes and premises.

The warning comes amid an increase in cases of armed robberies in which criminals are targeting companies and people with huge amounts of money.

The recent case which is under investigation by the Zimbabwe Republic Police involves a6 Harare woman who lost US$1 million after unknown suspects allegedly forced open the victims’ bedroom window and gained entry before vanishing with the loot.

The Borrowdale Brooke case is not a standalone with another family from Greendale, Harare losing US$1 00 000 after six armed robbers raided their house in July.

On the 12th of this month Mutoko man also lost over US$10 000 to two robbers who raided his homestead.

Schools are also not spared with Kuwadzana 8 Primary School and Budiriro One High School having fallen victims after each lost cash which was being kept at the school premises in September this year.

These and other cases have seen stakeholders in the private security sector urging the public against keeping large sums of money at homes and work premises.

“As the private security sector, we encourage people to opt for banks because it is dangerous to keep large sums of money because there a lot of dangers associated with keeping a lot of money. This can also lead to death because when robbers come knowing that you have a lot of money surely they can use whatever means to get that money. So we are encouraging people to use banks because they are safe. We also encourage people to invest,” said a private security operator, Mr Abel Mubango.

“It’s my view that people should desist from the behaviour of keeping large sums of money at homes or company premises. It is very dangerous because in most of cases these may be as a result of inside jobs so when thieves come they can use whatever means. This can be to kill, so to be safe let’s use banks,” noted another security operator, Mr Bryton Songore.

Economist and RBZ Monetary Policy committee member, Mr Persistence Gwanyanya said it is illegal to keep large sums of money in houses and premises without a good reason.

“The Money Act regulates that traders, parastatals and money lenders are expected to open accounts with financial institutions and they shouldn’t bank excess money into those accounts. They are also expected to keep records of transactions. Traders are expected to comply with the regulations. In this case it means there is a lot of money in the informal sector and this issue issue 5against the act,” he said.

A number of robbers have so far been apprehended for committing a spate of robberies countrywide by the Zimbabwe Republic Police.