Talking Risk

Actually, if the money is stolen from the vault, the way they have down there secured like Fort Knox, people would feel it’s an inside job. So you’re right, the impact is very high.

What is the likelihood of that happening though? Whether it’s stealing from the vault or the truck?

Well we already spoke about the Fort Knox arrangements. There is also dual custody for all currency stock which means no one person can access the currency in the vault.

Don’t forget our heavy duty security officers – you see how many of them does be going gym … including the Chief! But what about when they are transporting the currency?

You know, we probably need to examine the risk of telling people your business! I done know the impact is high because you all over me like white on rice!

The Bank has primary and secondary back-up security arrangements in place. So in both instances the likelihood is low, based on the controls in place, which means the overall risk is low.

You watch too much TV! Probably you need to spend some of that time working on your assignment!

I hope so. I keep thinking about that movie though.

This risk thing is really something else. Things that you expect to be high risk are actually not.

New notes are monetized when it has been issued by the ECCB. Monetized means it has been recognized as legal tender to settle transactions.

For real, because I was so sure that everything to do with currency was a high risk.

I’m still not clear on something you said earlier though. What you meant by saying the currency has no value before it is issued?

I’m so glad you ask that. I know I said it, but I was just repeating what I heard somebody say before.