News in Brief

G+D Consolidates Position in IoT

Giesecke+Devrient (G+D) has acquired MECOMO AG, a specialist in tracking and tracing solutions for an undisclosed sum.

Munich-based MECOMO is a software systems house that provides end-to-end (E2E) telematics solutions for industrial and logistics enterprises. Founded in 2000, the company is the market leader in German-speaking Europe for the digitalisation of fleet-based logistics processes. In addition, its connected solutions promote climate-friendly operations in supply chains where goods are shipped via different modes of transport.

G+D acquired the Pod Group, an Enterprise Network Operator (ENO) specialising in scalable, mobile-networked solutions for the Internet of Things (IoT) in 2021. With the acquisition of MECOMO, G+D says it is now taking the next step in expanding its IoT product portfolio and offering solutions from a single source.

Investigation into SICPA Concludes

The Swiss Office of the Attorney General (OAG) has concluded an eight-year investigation into SICPA with a conviction for ‘organisational deficiencies’ relating to activities from 2008 to 2015, and has issued a penalty of CHF 81 million.

The OAG's investigation, which was opened in January 2015, concerned allegations of systemic illegal practices by former employees and consultants in several overseas countries that were undertaken, says SICPA, without its consent and against its interests – a statement endorsed by the OAG.

According to SICPA, while it accepts the sanction, it disagrees with the grounds given the absence of any penal measures in the countries where the offences were alleged to take place. Moreover, it states that it has collaborated fully with the investigation, categorically rejects unethical conduct, and was not aware of such actions before being notified. As soon as they were brought to its attention, those responsible were sanctioned.

It wishes, however, to draw a line under the affair, and put behind it the long-running uncertainty that the investigation has caused. It is not, therefore, opposing the decision. In the meantime, it says it has voluntarily and fully addressed the organisational deficiencies that led to the investigation, including putting in place a strong compliance management system to ensure that the activities carried out on its behalf are in according with business ethics and the highest degree of integrity. In 2021, it became one of the first companies in its sector to be ISO 37001:2016 certified for its compliance, integrity and competition protection systems.

Prosegur Reaffirms Commitment to Environment

Security and cash management specialists Prosegur and Prosegur Cash have reaffirmed their commitment to the environment with a new emission compensation project in Brazil equivalent to those generated by their operations in Europe, Central and North America.

The transition to a circular economy, waste reduction and decarbonisation are fundamental priorities of the Prosegur Group's Sustainability Master Plan.

The project, which is a pioneer in the sector, focuses on compensation through the generation of 100% renewable energy in the União dos Ventos Wind Complex (Unión dos Viernos), located in the state of Rio Grande do Norte in Brazil. Thanks to this project, says Prosegur, the power plants is expected to reduce more than 250,000 tons of CO2 per year.

Swiss to Vote on Cash

The Swiss government is to hold a vote on whether to enshrine the availability of cash in the constitution amid concerns about the rise in digital currency.

It follows a campaign by the Swiss Freedom Movement, who collected over 100,000 signatures in support of a referendum. By law, a referendum must be held if this threshold of support is reached.

Neither the Swiss government nor the Swiss National Bank (SNB) have expressed any intentions to abandon cash, and indeed, Swiss citizens hold the most cash per capita, according to data from 2021.

In a speech last November, SNB Vice President Martin Schlegel said that ‘cash is a well-functioning but it is not to be taken for granted’, adding that reduced cash usage puts economic pressure on the cash infrastructure.

The Swiss government, meanwhile, has stated that it recognises the importance of cash for the economy and society and is prepared to raise concerns from the legal to the constitutional level in order to underline their importance.

The Ministries of Finance and Justice will draw up a draft referendum by the end of August, but it is not known when the plebiscite will actually take place.

DNB Completes Move to New Cash Centre

De Nederlandsche Bank’s new Cash Centre in Zeist is now fully operational, following the move of 200 tonnes of gold bars and coins, with a total value of €10.4 billion,. The bank’s strategic supply of banknotes, with a value of €4.5 billion, has also been moved to the Ministry of Defence location.

The 14,166 gold bars and 1,006 boxes of coins were originally moved from the Bank’s headquarters in Amsterdam to temporary storage on the premises of Royal Joh Enschede in October 2020 ahead of the start of renovation work, which will be completed in 2024. The construction of the new cash centre began in 2019, and the project was completed on time and in budget.

The gold now stored in the DNB’s ‘cashcentrum’ at Camp New Amsterdam accounts for 31% of its total cash reserves. A further 31% is stored by the Federal Reserve Bank in New York and the remaining 38% is held in London and Ottawa.

Cash stored at the new centre is used to supply CITs for transport to banks, cash dispensers and shops all over the country. It also the location for the National Analysis Centre, where counterfeit banknotes and coins are examined and registered.

The new cash centre overcomes the previous issues of storing cash and gold in a city centre location with sub-optimal facilities for loading and unloading CIT vehicles. It provides improved logistics and better loading facilities, and is equipped with self deposit ‘letterboxes’ for CIT vehicles, along with an automated vault designed by PEC Automation.