Ecobank Bulawayo Heist: US$4 Million vanished in 149 seconds… It is now the world’s largest cash robbery in a decade

BULAWAYO – Zimbabwe is reeling from the audacious theft of over US$4 million in a cash-in-transit robbery in Bulawayo, an event now confirmed as the world’s largest cash heist in the last decade.

This brazen robbery, which unfolded on Thursday in broad daylight and took just 149 seconds to complete, involved six armed robbers who escaped with the substantial sum of US$4,442,000 after targeting a cash-in-transit van belonging to Safeguard Security.

National police spokesperson, Commissioner Paul Nyathi, confirmed the incident and the ongoing investigation, while dispelling rumours circulating on social media regarding arrests. “Police are still conducting investigations and no arrests have been made so far,” Commissioner Nyathi stated.

The scale of the heist, approximately R70 million, significantly surpasses the previous record, both in Zimbabwe and, according to various international records, globally within the past ten years. This makes the Bulawayo heist a landmark event in the annals of criminal activity.

The audacious nature of the Bulawayo heist raises serious concerns about the security of cash-in-transit operations and the capabilities of the criminal gangs involved. Details remain limited, but the incident underscores the urgent need for enhanced security measures to deter future attacks.

The use of a single cab Ford Ranger, a seemingly favoured vehicle for such crimes, suggests a degree of pre-planning and coordination among the perpetrators.

This unprecedented robbery compels a comparison with other significant cash heists globally, highlighting the scale and sophistication of the Bulawayo incident. Many of these large-scale robberies share a common element: inside assistance. Examining some notable examples reveals a pattern of collusion and meticulous planning.

The Ecobank Bulawayo heist has made Zimbabwe Republic Police scratch their heads as they try to solve the mystery and join the pieces of the puzzle together. Sources with police links have also indicated that soldiers are now believed to be involved as such a clean armed robbery cannot be executed by ordinary armed robbers.

Comparative Cash Heists:

While many large heists have occurred globally, the US$4.44 million stolen in Bulawayo surpasses all others in the past decade, according to various international crime records.

This places the Bulawayo heist in a unique category, highlighting its significance within the global landscape of criminal activity. The sheer scale of the theft, the brazenness of the attack in broad daylight, and the lack of arrests so far all underscore the gravity of the situation.

The following examples illustrate the scale of similar heists, though none match the Bulawayo heist in terms of recent global records:

South Africa:

• R100 million (March 25, 2006): A gang of 24 men armed with AK-47s stole R100 million from a South African Airways plane at OR Tambo International Airport. Airport staff were implicated in the planning. Seven suspects were eventually convicted.
• R87 million (April 27, 2014): An armed gang overpowered and drugged security guards at an SBV cash centre in Witbank, stealing R87 million. Seventeen people were arrested, including a former Hawks captain, SBV employees, and a police reservist.
• R43 million (2012): Hackers stole R43 million from the Post Bank system over New Year’s Eve and New Year’s Day. One perpetrator was apprehended and sentenced to 15 years.
• R31 million (August 1996): More than R31 million was stolen from an SBV cash centre in Westmead, Pinetown. The robbery involved insider participation, with nineteen people arrested, including police officers and SBV guards. Sixteen were convicted.

Around the World:

• Central Bank of Iraq Robbery (2003): Nearly US$1 billion was stolen during the US invasion of Iraq. The theft was orchestrated by Qusay Hussein, son of Saddam Hussein. US$650 million was later recovered.
• Banco Central Burglary (Brazil, 2005): Burglars tunneled 78 metres over three months to access the bank vault, stealing US$70 million. Several arrests were made, and some money was recovered.
• Knightsbridge Security Deposit Robbery (UK, 1987): Valerio Viccei, aided by an insider, stole valuables worth US$65 million.
• Northern Bank Robbery (2004): Gangs held bank officials hostage, enabling the theft of US$50 million. While some arrests were made, the main perpetrators remain unpunished.
• Brink’s-Mat Robbery (UK, 1983): A gang of 12, with an insider’s help, stole gold, diamonds, and cash worth US$32 million. Several individuals were arrested for money laundering.

The Ecobank Bulawayo heist’s designation as the world’s largest cash robbery in the last decade underscores the need for a thorough investigation and a comprehensive review of cash-in-transit security protocols, not only in Zimbabwe but globally.

The ongoing investigation is crucial not only for recovering the stolen funds but also for apprehending the perpetrators and determining the extent of any potential inside involvement.