Armed gangs have stolen more than €13 million in hold-ups of cash-in-transit delivery vans since 2002, according to figures obtained by Labour Party justice spokesman Brendan Howlin.
The figures showed that since 2002 there have been 237 recorded robberies of cash-in-transit with a total of €13.6 million taken.
They also show that despite more than 230 heists being investigated by Garda detectives only 22 cases have been brought against suspected robbers.
Mr Howlin who obtained the figures in reply to a written parliamentary question to Minister for Justice Michael McDowell said they raised serious concerns for the Government and the security industry.
"The current cash in transit system appears to be operating like some massive ATM for the criminal gangs who can take what they like, with little apparent chance of being brought to justice," he said.
"The likelihood is that much of this money was used to finance the importation of drugs and arms, further boosting the coffers of the drug gangs and facilitating their destructive wars."
Mr Howlin urged people not to underestimate the impact of robberies on security staff who have been threatened, assaulted, shot and, in some cases, whose families have been held hostage.
The worst year by far was 2005, when almost €6.3 million was stolen and with just four months gone so far this year, €1.5 million has already fallen into the hands of gangs.
The Labour TD said: "What is of additional concern is that proceedings were commenced in so few cases. Of the 237 recorded cases, Minister McDowell claims that 53 were detected, but proceedings were commenced in just 22 cases."
Unions, senior gardai, the Private Security Authority and Mr McDowell have held talks over the last few weeks in a bid to toughen security. Issues such as improved CCTV coverage, secure parking at banks and increased protections for staff have been discussed.
A dedicated anti-gang unit has been set up at Garda Metropolitan HQ in Dublin to tackle the crisis. And the Minister has also indicated that he will raise the possibility of using more covert garda units to track deliveries with Garda Commissioner Noel Conroy.
A mandatory system of licensing security firms has also been promised after the Minister detailed serious breaches in a voluntary code of practice agreed by unions, employers and the banks.
Mr Howlin added: "There is clearly a new approach needed to prevent criminals walking away with huge amounts of money. With the modern technology available, it must be possible to devise an effective and secure method of transferring cash from point A to point B.
"It is also essential that the Minister for Justice should ensure that the promised mandatory licensing system for security companies is brought into operation as soon as possible to ensure that all companies involved in this sector meet and maintain certain basic levels of secure procedures."