SATURDAY'S raid in Waterford is part of a pattern of major robberies carried out on cash depots in recent years. It inevitably raises questions about the security measures at such depots.
In January, 1992, about a half a mile away from the scene of Saturday's robbery, a gang stole about £2.7 million from an AIB cash holding centre.
In that raid, two armed men cut through a wire perimeter fence and broke through the outer wall of the single storey building near the roof, gaining access to the space between the roof and the suspended ceiling below. They were then able to drop through the flimsy panels of the suspended ceiling to surprise the staff unloading a cash trolley from a van below. Another raider, meanwhile, had entered the building and confronted and disarmed a detective at the cash office.
The AIB Waterford raid was the biggest cash haul in the State's history until January last year, when an estimated £2.8 million was taken from a Brinks Allied cash depot in Dublin.
At the Brinks Allied facility, sections of the outer and inner fence were loosened before jeeps were driven through them. One jeep rammed the loading bay door in the building and held it open, allowing armed and masked raiders into the area where staff were unloading cash from a van.
Saturday's raid followed the pattern. A fence surrounding the building was breached and raiders then cut their way through the metal panels of a wall, waiting inside for the security van to arrive.
Although paramilitary involvement in the earlier raids was not ruled out, the prime suspects were members of a criminal gang led by the Dublin criminal known as "The Monk". Armed raids on computer chip factories and warehouses which have followed the same pattern have also been attributed to the gang.
Yesterday, gardai said they had an open mind as to whether there was paramilitary involvement in Saturday's raid. The fact that one of the raiders carried a machine gun or some kind of automatic weapon could point to IRA involvement but gardai recognise that Dublin gangs also have access to automatic weapons. Catching Saturday's raiders will be especially difficult as no shots were fired during the raid, leaving no ballistics evidence.
Banks, security firms and companies with high value stocks regularly share security information and also meet regularly with gardai to discuss their security.
The apparent ease with which Saturday's raid was carried out, and the fact that it followed a pattern of robberies, inevitably raises questions about the thoroughness of security at cash depots.
However, last night, a spokesman for Securicor said the company "rejected the view that security was less than adequate" at the depot.
There are numerous measures which can be taken to secure a building. Apart from security cameras at fences and outer walls, vibration sensors can be installed which should detect any attempts' to penetrate the walls or roof. The fact that the Waterford raiders on Saturday were able to break through a fence and then gain access to the Securicor building suggests that such measures were not in place, or that they were neutralised.
Cash depots are the most attractive target for raiders as cash collected from shops and other businesses by security vans is in used notes. The cash, therefore, cannot be traced by serial numbers. None of the cash from the previous Waterford raid or the Brinks Allied robbery has been recovered, nor have any people been charged.
Securicor Ireland has a turnover of about £20 million a year. It does not disclose profits. Its cash in transit business accounts for about 30 per cent of revenue. The company is part of a British based group which makes a profit of £60 million a year.
A security firm's cash in transit operations are usually insured with the security company agreeing cash carrying procedures with the insurer. There are limits on the amount of cash that can be carried across a pavement to a security van by one person and for the amounts held in a van or at any particular facility.
Security firm staff are unarmed and a Securicor executive said in recent years that there were "no rules" about the level of commitment to the firm expected when a member of staff is confronted by an armed raider. Those who show exceptional bravery, however, are given a cheque to show the company's gratitude.