Crime Spike in Russia on Individuals Holding Cash

With Russian citizens fearful of another financial failure of the banking system, and increased economic uncertainty in the political climate, more Russian citizens have withdrawn deposits from banks and are carrying greater amounts of cash on them. This has resulted in the unintended consequence of increasing crime opportunity for criminals that are now targeting individuals believed to be carrying cash, or retrieving cash from banks, or storing cash at home. Reported yesterday by Bloomberg, "Investors have withdrawn at least $140 billion from Russia since the start of August, BNP Paribas SA estimates, because of slumping commodities prices, the war with Georgia and the seizing up of global capital markets." This same type of crime opportunity risk could be seen in other parts of the world where individuals have clamoured for hard assets such as gold, silver, other precious commodities, and cash. Listed below are excerpts from the quoted article appearing in Bloomberg at http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEFWvrUJRLsk

Crime Wave Hits Moscow as Russians Carry Cash in Credit Crunch
By Sebastian Alison, Nov. 12 (Bloomberg) -- Moscow has been hit by a crime wave as ever more Russians, distrusting the banking system during the global credit crunch, are withdrawing their savings and carrying large amounts of cash around, making them easy prey for thieves.
Yesterday alone, police registered four separate thefts from car drivers, of amounts ranging from 300,000 rubles to 3 million rubles ($10,900 to $109,000) state broadcaster Vesti-24 said in a report posted on its Web site. ``Police have noted that since the start of the crisis, such crimes have become more common,'' Vesti said. ``This is because people are carrying large amounts of cash. Some are changing it into foreign currency. Others are withdrawing it from banks and taking it home. Criminals are taking advantage of this.'' At 1:30 p.m. yesterday, four people attacked the driver of a Jeep Grand Cherokee which had stopped at a traffic light, injuring him with a hammer and baseball bats, before making off with a bag containing 300,000 rubles, police said. At about the same time, three men grabbed a bag with 3 million rubles in it from a 32-year-old sitting in a car, before making off in another car, according to police.
Shooting. Yesterday evening three men stopped a car in the city center driven by a 45-year-old businessman and snatched a bag from him with 500,000 rubles. At about 10 p.m. a group of five men shot a 32-year-old man as he got out of his car, wounding him, and escaping with ``a large amount of money,'' police said.