JBA urges caution when using cash during Christmas season

The Jamaica Bankers Association (JBA) is urging consumers and business owners to take all necessary measures to safeguard themselves and their valuables in light of the Christmas season and security risks associated with handling cash.

It says as the festive season brings an increase in cash flow and the hustle and bustle of holiday shopping, there is need for heightened awareness and vigilance regarding consumer shopping and conducting banking transactions.

The Association is strongly encouraging customers to opt for secure digital payment methods such as mobile and online banking, credit, debit and contactless cards, or online payment gateways when making purchases.

However, the JBA has acknowledged that some individuals will still need to use cash for various reasons.

For those consumers who cannot avoid using cash, the JBA recommends these tips to help mitigate the risks associated with handling physical currency:

1. Plan your cash withdrawals - Before heading out, estimate the amount of cash you will need and withdraw only what is necessary. By minimising the amount of cash you carry, you reduce the potential loss or risk associated with large sums of money.

2. Be alert when using automated banking machines (ABMs) or entering or exiting branches - When withdrawing cash, opt for ABMs located in well-lit, high-traffic areas. These locations typically have increased security measures and surveillance systems, providing an added layer of safety.

3. Be discreet when handling cash - Keep the cash securely concealed in your wallet or purse until needed, and try not to display large amounts of money in public.

4. Do not store cash at home - Avoid sharing information about cash holdings with others to maintain confidentiality.

5. Pay close attention to your surroundings – At this time of the year it is important to be extra vigilant of persons and circumstances in close proximity to you. Ensure that you are not being followed after shopping or leaving the ABM.

Additionally, the JBA says consumers should be extra careful when shopping online by choosing reputable companies with which to transact business.

"Check if sites are secure by looking for the lock symbol in the web address. Be suspicious of emails or deals from unfamiliar persons and remember never to share confidential information such as your debit or credit card PINs or banking or online or mobile passwords with anyone," the JBA warns.

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