Banks paying firms RM35 per trip to move millions of ringgit??? YAU MOU GAU....CHOR!!

KUALA LUMPUR: If you are transferring RM5mil across the city, how much are you willing to pay for security guards?

According to the Security Services Association of Malaysia, some banks are not keen to pay more than RM35 per trip.

“The RM35 includes the services of two armed guards, two escorts and a driver, for a trip within a 20km radius in the city,” association president Zainal Abidin Kinta added.

“It’s sad that banks are paying such a meagre amount when they are supposed to be safeguarding people’s money.”

It also covered the use of an armoured vehicle and fuel costs, he told reporters here yesterday.

The SSAM brought up the matter at a recent meeting with the Association of Banks Malaysia.

To clinch jobs, some security firms resorted to undercutting, and not following regulations under the Private Agency Act.

SSAM deputy president Shaheen Mirza Habib added that insurance companies had also increased the premium on security services in view of the spate of security van robberies.

The Association of Banks Malaysia executive director Wong Suan Lye said rates paid by banks for security van services were contracted between the two parties, and the amount was based on market rates.

“The rates are agreed upon by both the security company and the bank, and it is not meant to compromise the level of service provided by the security company,” she added.