Why are large sums of cash kept at home?
May 24, 2002
Letters on daily grind
I refer to a letter captioned "Businessmen must take more security precautions" (22.5.2002).
As an ardent follower of Guyana's news via the internet, I cannot help but smile at the innocence of Mr. Merrill Hyman Sr's. letter which alluded to the fact that the present climate in Guyana should encourage security and banking institutions to market their services so they can attract the businessmen to use them instead of them hoarding large sums of cash at home.
It does not need a rocket scientist to deduce that if there are indeed large sums of money on the premises which are not being deposited at banks there must be a reason for this such as tax evasion or illegal activities.
So Mr Hyman wake up and smell the coffee.