Cash-in-transit licences to be linked to new standards

Minister for Justice Michael McDowell has warned cash-in-transit companies that they could be refused a licence if they do not adhere to their own voluntary code of practice.

The code was drawn up last year in an effort to stamp out armed raids on security vans involved in the transport of cash.

However, a number of high-profile robberies targeting such vans earlier this year netted more than €1m for Dublin criminals.

Speaking after talks with the main players in the industry today, Mr McDowell said he hoped a new licensing scheme for the companies involved would be in place by October.

He also warned that any company that did not comply with the voluntary code of practice could be refused a licence under the scheme.

The minister said firms involved in the cash-in-transit trade must take responsibility and impose adequate standards to ensure the security of cash left in their care.