New Delhi, August 19: Amid rising concerns over attacks on cash vans and ATM fraud cases, no automated teller machines (ATMs) will be replenished with cash after 9 PM in cities, 6 PM in rural areas and 4 PM in Naxal-hit areas. According to a new directive issued by the Union Home Ministry, the move will come into force from February 2019 and two armed guards will accompany crisp notes in transit. The move by the Home Ministry comes a week after an estimated amount of Rs 94 crores was siphoned off from Cosmos bank in Pune, raising concerns about the bank security system.
In its notification, the home ministry said the new Standard Operating Procedures (SoPs) would come into effect from 8 February 2019 in view of the spurt in incidents of attacks cash vaults, ATM frauds and other internal frauds leading to an increased sense of insecurity. According to a report by PTI, private cash handling agencies must collect money from the banks in the first half of the day and transport notes only in armoured vehicles.
According to the report, there are more than 8,000 privately owned cash vans plying across the country. The vans are operated by non-bank private agencies, and they handle over Rs 15,000 crore daily on behalf of banks. The private agencies sometimes keep currency overnight in their cash vaults. “No cash loading of the ATMs or cash transportation activities shall be done after 9 PM in urban areas, after 6 PM in rural areas and before 9 AM or after 4 PM in the districts notified by the central government as Left-Wing Extremism affected areas,” the notification said.
With the new order in place,
- These agencies shall provide private security for the cash transportation with the requisite number of trained staffs, every cash van shall have one driver, two armed security guards, two ATM officers or custodians.
- One armed guard must sit in the front along with the driver and another in the rear portion of the van while in transit.
- During loading or unloading, nature’s call, tea or lunch break, at least one armed security guard shall remain present with the cash van at all times.
- The ex-serviceman, otherwise eligible, may preferably be appointed for providing security for cash transportation.
The private security agency will ensure that all cash handling, including counting, sorting, and bundling activities shall be carried out in secured premises in accordance with specific guidelines. Furthermore, every cash transportation shall be carried out only in secured cash vans fitted with a GPS tracking device. It must be ensured that no cash van carries cash of more than Rs 5 crore per trip, the PTI report informed.
A security alarm with GSM-based auto-dialer shall be provided with a motorised siren. Each of the cash boxes shall be secured to the floor with separate chains and locks that can be opened only by using separate keys kept with different custodians.
The cash van shall be equipped with hooter, fire extinguishers and emergency lights to ensure quick reaction in case of an attack. The cash van shall be provided with a small CCTV system with at least five days recording facility and three cameras installed in front, rear and inside of the cabin.
(The above story first appeared on LatestLY on Aug 19, 2018 04:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).