Australia cash transport: millions moved in unmarked Hyundais

A Senate inquiry into Australia's cash distribution reforms has heard alarming testimony that cash-in-transit workers are increasingly vulnerable to robbery, with some million-dollar shipments being moved by lone drivers in small, unmarked, and un-armoured vehicles such as Hyundai i30s. The revelations come from both Armaguard, the nation's largest cash-moving company, and the Transport Workers' Union, which warned that cost-cutting by banks is compromising worker safety.

Rising robbery risk and safety failures

Matt Caulfield, Armaguard's chief executive, told the inquiry that the company handles more than 8,000 jobs daily, moving millions of dollars between locations. He highlighted a worrying trend: in the last three months alone, Armaguard experienced two armed robberies. A tracking system called Myosh, which monitors near misses and red flags, has recorded its highest-ever alerts during Caulfield's tenure. This spike indicates that safety margins are thinning across the industry.

Gavin Webb of the Transport Workers' Union provided a stark example. In May, two cash-in-transit workers were robbed and assaulted at a shopping centre in south-east Queensland. He noted that historically, workers have been killed while making cash drops in public places. Webb specifically pointed to single-crew operators 'carting millions of dollars of cash in vehicles such as Hyundai i30s' in major cities. These unmarked cars lack armour and are driven by unarmed employees, making them easy targets for criminals.

Cost-cutting by banks drives unsafe practices

Webb attributed the limited staff protection to banks choosing cheaper cash movers that cut corners on safety. Properly secured vehicles are expensive: Bill Kelty, a director of Armaguard, said their secure vehicles cost about $300,000 each. The shift toward lower-cost providers has led to more single-crew operations and unmarked vehicles, increasing the risk for workers.

Armaguard and the union both warned that the reforms under consideration by the Senate inquiry are not accounting for the true cost of operating safely. Cash distribution has become more expensive due to declining cash use, and major operators are at odds with retailers and banks over how costs should be shared. Peter Linfox, Armaguard's executive chair, revealed that the company's owners—the Linfox family and Spanish former competitor Prosegur—have injected $125 million to cover cash distribution losses. Linfox said they expect no profits for years.

Industry pressures and reform implications

The inquiry is examining reforms to cash distribution as the industry struggles with rising expenses and falling cash volumes. Banks and retailers are pushing for lower fees, but Armaguard argues that safety cannot be compromised. The union is calling for regulations to enforce minimum safety standards, such as armoured vehicles and two-person crews for high-value transfers. Without such measures, the industry may see more robberies and worker fatalities.

Looking ahead

The Senate inquiry's findings could reshape Australia's cash transport sector. Experts say that without a sustainable funding model that prioritises security, the current trajectory points to increased danger for workers and potential service disruptions. The coming months will be critical as stakeholders negotiate a balance between cost efficiency and safety, with workers' lives hanging in the balance. The union has vowed to continue pushing for stronger protections, while Armaguard hopes the inquiry will lead to a fairer distribution of costs among banks, retailers, and the company itself.