When it comes to operating in a cash intensive environment, cannabis merchants face many unique challenges. Of these challenges, dispensary security and ensuring the safety of their assets remains a top priority for many cannabis merchants. -R$
5 Essential Security Steps For Cannabis Enterprises
While the spread of legalized cannabis hasn’t exactly correlated with better security for those working in the industry, there are innovative ways for cannabis operators to stay ahead of the criminal curve.
The cannabis community has a long history of being targeted by organized crime infamous for its sophisticated rip-off tactics, and some evidence even indicates that legalization has ushered in an uptick in cannabis-targeted crimes.
This includes everything from public nuisance and vandalism crimes, to national gang syndicates who rob dispensaries on the West Coast in order to flip the product for huge profits on the East Coast.
Some cannabis retailers, producers and distributors have properly beefed up their security, but many remain dramatically vulnerable.
One of the most unsafe practices in the industry is the use of untrained employees to perform high-risk activities such as guarding legacy cash stored onsite. It’s not uncommon for cannabis enterprises to make cash payments upwards of $100k for wholesale orders, or to pay their taxes by sending large amounts of cash unguarded to the tax collector’s office.
By hiring professional protective service companies, cannabis operators can mitigate product loss while minimizing the risk of injury or death for their operational employees. Because cannabis employees are high-value targets for criminals, employing professional cash management and security companies can greatly reduce exposure to lawsuits or injury claims.
Here are the 5 most important steps a cannabis operator should take to ensure the safety of everyone involved:
Do some research and vet multiple security companies before contracting with one. Choose the most reputable company to transport and store your legacy cash offsite.
2. Create a proactive security posture around your dispensary, grow or manufacturing site. Prevent criminal activity by building the image of a “hard target.”
3. Work with FinTech companies that can assist you in moving toward “cashless” purchase options for your customers.
4. Watch out for “insider threats” by actively monitoring onsite CCTV systems, cash transactions at the POS, disgruntled (ex-)employee interactions, and limit knowledge of company operations to a need-to-know basis.
5. Ensure all employees have received crisis training for robberies and theft. Provide training which specifically includes the use of escape routes, safe rooms or other means of protection.
By enabling cannabis merchants to accept digital payments and removing cash from the equation altogether, Alt Thirty Six offers a quick and efficient way to immediately increase your facility's security.
We build beautifully designed, simple-to-usepayment technology for the cannabis industry.