New Research Reveals Hotels and Leisure Facilities Suffering ‘Preventable Heavy Internal Cash Losses’ : RushPRNews - Newswire & Global Press Release Distribution

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New Research Reveals Hotels and Leisure Facilities Suffering ‘Preventable Heavy Internal Cash Losses’

July 29, 2011

New Research Reveals Hotels and Leisure Facilities Suffering ‘Preventable Heavy Internal Cash Losses’
London, UK (RPRN) 07/29/11 —

 Institute of Hotel Security Management says Serial-Numbered Tamperproof Pouches are a huge deterrent to preventing cash losses

Hotels and leisure facilities are suffering what is described as preventable heavy internal cash losses, according to new research.

The research has discovered evidence of significant sums of cash held at hospitality venues, especially during weekends. "This appears to be partly due to venues avoiding the cost of cash in transit collections," says Steve Waller, director of Versapak, the UK company that conducted the research.

Many average-sized establishments are handling up to £25,000 in cash on their premises during a busy weekend, according to the research, and before the money is banked or secured in a safe much of this is vulnerable.

Bill Fairweather, Chair of the Institute of Hotel Security Management’s  Hotel Industry Fraud Forum has long advocated the use of tamper proof pouches - as opposed to simple sealed envelopes in use at many venues – commenting "The fact that the cash in transit companies use them to collect bankings  is of particular significance. Stringent controls regarding the counting of cash at shift changeovers and having tamperproof pouches assist in alleviating a laborious and time consuming task. They also assist

New Research Reveals Hotels and Leisure Facilities Suffering ‘Preventable Heavy Internal Cash Losses’
in the audit trail and on one occasion lead to a direct arrest at a very famous London hotel for the theft of £56,000."

In direct response to industry calls for zipped tamper-evident cash containers, Versapak has created a range of tamper-evident cash bags, sacks and wallets which allow managers to keep their cash safe both on and off site.  These products are available in a variety of sizes and colours and can also be made to bespoke specifications if required. Created with a seamless bottom, the bags can carry heavy loads and all have a personalised tamper-evident security seal system for secure storage, transport or counting purposes. The bags themselves are specifically designed for the rigours of the hospitality industry and withstand many thousands of trips.

Steve Waller comments: “While Versapak products are already used in many tourist locations, theme parks, hotels, pubs and bars worldwide, this is something that hotel managers and staff simply cannot afford to neglect – without tamper evident cash bags and sacks they are increasing the risk of losing money from their takings. Our bags ensure that this money is safer both on and off premises as well as acting as a fraud deterrent.”

Bill Fairweather adds: “They are a huge deterrent to preventing cash losses.” 

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Filed Under: BREAKING NEWS, BUSINESS NEWS, Featured, PRESS RELEASE, United Kingdom

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