Banks will have to pay more for cash escort services following the latest security van robbery, Minister for Justice Michael McDowell has said. Mark Hennessy and Conor Lally report.
The banks currently pay just €3 million of the €9 million it costs annually to provide Army and Garda escorts for cash transits.
Mr McDowell and Garda Commissioner Noel Conroy yesterday met representatives of financial institutions and the cash transit industry following Wednesday's robbery of €2.4 million from a security van in Dublin.
Afterwards Mr McDowell said: "There is a lot of leeway to be made up there. I made it clear that the banks should expect to be filling in that gap."
He warned that cash transit companies must impose tougher security standards within four months, or else face regulation.
He said he had "received an assurance from the main players in the business that they are going to address those matters over the coming months".
New theft-proof cash security boxes, improved satellite tracking systems and more widespread use of CCTV would have be introduced quickly, he said.
The commissioner and the Minister refused to link Wednesday's €2.4 million heist with a robbery of another van two weeks ago or to point the finger at republicans.
The van, which was discovered near the border at Dromad, Co Louth, was taken to Santry Garda station where it underwent forensic examination.
Gardaí investigating the robbery yesterday raided 19 houses in various parts of Dublin.
The raids, which involved more than 100 officers, all took place at 6.30am.