September 21, 2023


The Truth must be told no matter what so Justice can live!

Bloody Cheapskates Banks! No wonder they get robbed

I read in the Star today that banks here pay a measly sum of only RM35.00 to security firms transporting money per trip within 20km of the city limits as reported here.

I just don’t understand the logic for banks who make millions if not billions of ringgits in profits annually from all the cash being deposited into their accounts and which the banks in turn utilise such funds for their other moneymaking services via housing loans, this loan that loan have the ‘Scrooge’ mentality when paying ‘peanuts’ to security firms transporting the cash here and there!

Picture of Security Services Association of Malaysia President Encik Zainal Abidin Kinta : Source : The Star Online

RM35 is nothing compared to the lives of the security guards involved in such duties! How can this travesty of justice be allowed to be left unchallenged by the authorities?

I think that the banks,finance companies, jewellers, etc must not be allowed to take advantage of the security guards like these.

No wonder Security Companies pay miniscule salaries to security guards and couldn’t be bothered to vet the guard job applicants as reported by the Malay Mail lately.

They take in retirees and persons suffering from ill health as security guards, throw them a uniform or two and expect these poor people to lay down their lives for the banks and finance companies when robberies take place!

It’s high time that the Kementerian Dalam Negeri looks into the welfare of the security guards being taken for a ride by the ‘cheapskate’ banks of this nation!

They can invest in billions, beautifying their interiors of the banks, and project a spanking ultra dynamic modern building etcetera but fail to take care of the very people who risk their lifes and limbs protecting the banks and their customers by paying such a pittance!

The saying ‘you pay peanuts; you get monkeys’ is very apt here ! Not implying that the guards are monkeys or anything but am reiterating my viewpoint that it is criminal for the banks to pay so little for such life threatening tasks being carried out by the thousands of poorly paid security services personnel daily throughout this country!

Security guards have always been having a bad reputation because of a few rotten apples who got in to the position because security companies are hard pressed to get good, qualified people to be in the force!

It’s all coming back to square one! The clients of the security companies! The main ones are such banks! RM35 is way too little to put to risk lives of the security guards, in transporting millions of cold,hard cash for a pittance!

The report in the Star asks how much will you want to pay for transporting RM5million ringgits in cash?

I’d suggest 1% of the amount being in transit from point A to B! That is only RM50,000.00 compared to the lives of two or three armed guards, the cost of the armored van, etc!

A 1% service fee would be a very reasonable price to pay by the banks or any other finance companies or jewellers to the security firms for each trip no matter what amount with a minimum cash amount to be transported to be set at RM50,000.00 per trip.

That’s only RM500.00! Not worth at all for the guards lifes to be put to risk!

The standards of services of the security companies rests on how much they are being paid! The safety aspects need to be taken into consideration by the banks and finance companies engaging the services of such companies.

The Security Services Association of Malaysia ought to rally the security companies together in demanding that the banks ,finance companies,goldsmiths and jewellery companies pay them accordingly to the amount of cash they are handling daily, putting their guards lifes at risk of being shot and killed on duty as another guard is reported to have been shot to death by robbers at a Poh Kong Goldsmith branch yesterday. The dead guard was only 22 years old!

Does anyone care?

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