Hostage-taking extortion bids lead to boom for security companies

PERSONAL security has become big business in Ireland following the recent spate of hostage-taking extortion bids.

A Cork company reports a 200% leap in sales of GPS tracking systems and concealed panic buttons in cars as a defence against criminal gangs. Risk Management International, a London-based company formed by Irishman Cathal O’Neill, has experienced up to a 20% increase in business.

This comes in the aftermath of the security van robbery in Dublin and the foiled bid to extort money from Cork businessman Gary O’Donovan whose six-month pregnant wife, Katie, was held at gunpoint by a gang of masked men. Mr O’Neill said such crimes had “heightened concerns” among the business community, especially those who were handling lots of cash or valuables such as computer components and pharmaceuticals.

“Since Jim Lacey, CEO of National Irish Bank, suffered at the hands of a criminal gang like this in the 1990s, nothing like it has happened until recently,” said Mr O’Neill. “Some people are calling it ‘new risk’, but really it’s an old one.”

He said business people approaching his company had probably had niggling concerns over their safety and that of their staff in recent years, but these had now come to a head. The attack on Mr O’Donovan and his family at their home in Rochestown, Cork, has had major reverberations throughout the business community in Munster.

Greg McGarry, who is director of Glanmire-based company Halo Security believes his business is up nearly 200%. Mr McGarry said business people were availing of GPS tracking systems and concealed panic buttons in their cars as a defence against such gangs.

The company monitors vehicle movements and, if a panic alarm is set off, texts indicating the position of the car can be sent to up to five different mobile phone users. Gardaí will be notified of a kidnap attempt. Systems can also be put in place to starve a vehicle of fuel, bringing it to a slow halt. “We don’t advise business people to include any of their family for text messaging purposes, in case they are being held hostage by some of the gang,” said Mr McGarry.

The systems work throughout Europe and basic models start at just over €900, in addition to an annual tracking fee of €150.