Case Study 2: Cash Depot and Third Party Risk

Abstract

A company, NOKAS, performs both Norwegian central bank tasks and other cash processing services for private banks. In April 2004 NOKAS was just to move into new premises in the city of Stavanger when a robbery at one of the existing facilities took place. Approximately seven million Euros were taken, and one policeman was killed during the attack. This brutal robbery gave rise to a huge concern among the neighbors of the new NOKAS facility which resides in a residential area, and is located only eight metres from a kindergarten.