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.