Posts

Deposit Bag Tampering

Deposit Bag Tampering: Crooks Can’t Beat Smart Bags

It’s a common activity within the retail world: At the end of the business day, the manager tallies up the day’s revenue, gathers the deposit and drops it off at the bank. This normal, and seemingly safe process, is familiar to nearly anyone who’s ever worked in retail. Unfortunately, it can also offer opportunities for robbers and thieves if the funds are not properly protected.

Ripped from the headlines: Armored Car Drivers and Employees Steal Bank Deposits
Two recent cases:

In October 2015, The LA Times reported that the FBI found $600,000 buried in the back yard of a former armored car driver. The investigation revealed that the stockpile of cash was from two armored car drivers who conspired to steal the loot back in June 2014.

Protecting Deposits

Retailers must ensure their bank deposits are protected.

And in March 2015, a trusted employee of a West Palm Beach business was arrested for stealing an $8,000 deposit. The investigation revealed the employee had a history of making late deposits, which highlights the importance of maintaining tight internal controls and auditing for compliance. In fact, an article published in the Arizona Republic about how retailers can prevent Store Managers from stealing deposits, stated, “Strong internal controls that evolve with the ever-changing financial environment are effective at reducing employee theft.”

Lessons learned: Intelligent Security Packaging
Both of these cases illustrate the importance of following a specific set of procedures for handling store deposits and properly protecting these funds.

“It’s imperative to have protection in place after cash has been taken out of the register or safe for the bank deposit.”

BrightHub noted that there are several preventive measures retailers can take to better safeguard their financial assets, including keeping money under lock and key while it is in the store. In addition, retailers should have a record of those who have handled store cash, as well as the reasons for these activities. Keeping these accountability forms can help cut down on loss as well as theft.

As these incidents show, it’s also imperative to have protection in place after cash has been taken out of the register or safe for the bank deposit. Currently, there are several options available, including the Intelligent Security Packaging offered by CONTROLTEK.

CONTROLTEK has state-of-the-art security packaging to ensure cash is secured all the way to the bank. Solutions like retail deposit bags, coin bags, strap and bundle bags, security seals, cash vault shipping bags, deposit tickets and endorsement stamps help keep accountability and security intact. CONTROLTEK can also include barcodes and other tracking measures to give managers and store owners the peace of mind that their deposits will reach the bank safely.

Worried about deposit security in your store? Let our expert consultants help select the solutions that will best suit your stores’ needs. Contact CONTROLTEK for more information.

Patented Money Bags Heighten Security of Cash Transfers

CONTROLTEK’s currency bags are designed to thwart criminals

There was a time in the not too distant past when the methods and products used for transacting, storing and transporting cash were pretty much predictable – and often vulnerable. The problem is: Thieves love predictability and weak links in the chain of security.

But the bad guys now face a new obstacle. Improvements in the way currency is handled these days is due, in part, to advances in the design and quality of certain products used for the storing and transport of cash, which reduce the likelihood of tampering.

For example, patented TripLOK currency security bags, offered by security – products and loss -prevention solutions provider CONTROLTEK, improve the safety of mixed deposits and cash transfer shipments by featuring a unique triple-seal closure; four easy-to-read VideoVisual barcodes with large numbering for easy scanning by security cameras, and a high-visibility “void feature,” which appears if the secure nature of the bag has been compromised.

Meeting stringent Vault Process Certification (VPC) standards, the bags — developed by CONTROLTEK’s security experts in consultation with cash vault and loss-prevention experts across the United States – improve efficiency, while lowering vault expenses and the cost of all currency-handling applications.
Additional features include specially formulated thermochromic ink that turns red when subjected to heat, and sequential numbers, which are embedded in the closure for easy tracking.

About CONTROLTEK

Launched in 1976, CONTROLTEK has grown to be a world leader in loss-prevention solutions, offering a comprehensive line of security products developed to help businesses reduce losses to cash or merchandise. Headquartered at 95 Dermody St., in Cranford, N.J., the company, a division of the Control Group, operates an extensive North American-wide distribution system, with strategically located warehouses in New Jersey, Michigan and California.

CONTROLTEK Provides Protection of Cash Transfers, Assets and Inventories Through Its 3 Divisions

By focusing on customer needs and delivering product solutions within specific vertical markets, CONTROLTEK’s three divisions have become a single source for many companies in the United States and around the world. These customers are seeking products that protect inventory and assets, including cash deposits and currency.

In the retail industry, for example, guarding against inventory theft is a major concern. More than $13 billion worth of goods are stolen from retailers each year, according to the National Association for Shoplifting Prevention®.  Shoplifters steal from all types of stores, including: department stores, specialty shops, supermarkets, drug stores, discounters, music stores, convenience stores and thrift shops. In the banking industry, the use of currency security bags can help prevent tampering and ensure accountability of the parties involved in the transfer.

Many savvy retailers and financial institutions seeking innovative security solutions turn to CONTROLTEK to meet their tough standards of quality and reliability. Under its umbrella, CONTROLTEK’s products range from deposit bags and coin bags for banks and retailers, to security tags, detachersand Electronic Article Surveillance (EAS),RFID systems and software for retailers.

Are You Prepared For Seasonal Money-Bag Demand?

Retailers’ increased cash volume warrants buying additional bank deposit bags in advance of holiday season

With projections that back-to-school spending will show a 13 percent increase over last year, retailers are optimistic about their remaining 2014 autumn-to-winter cash flows and holiday spending.

CONTROLTEK ISP (Intelligent Security Packaging), a leading provider of retail deposit bags for handling currency, recommends that businesses assess their needs for vault-ready money bags and plan to have an ample supply on hand for the upcoming holiday shopping season.

The company’s patented security bag line is branded with the TripLok® and SafeLok® names. Both bags contain several important features developed in consultation with loss prevention professionals.

One of these is a unique triple-seal closure from TripLok and an easy press to close seal from SafeLok.

Another is the placement of four easy-to-read barcodes located strategically for scanning by security cameras.

And a highly visible tampering-evident “void” indicator signals that the bag needs closer scrutiny.

Plastic bank deposit bags are available in varying standard sizes, but custom sizes can be arranged, as can custom imprints.

Stock sizes range in capacity from one bundle containing 1,000 bills to 22 bundles consisting of 22,000 bills.

Choices are clear or white; smaller capacities (up to four bundles) are available with pockets.