Director of Operations at the Guardsman Group, Lieutenant Commander George Overton, has put financial institutions on notice to brace for an increase in the cost of transporting money, amid rising threats to security guards.

The warning follows two high profile heists in Portmore, St. Catherine, where security personnel were ambushed by heavily armed thugs as they attempted to replenish cash at automated teller banking machines.

More in this report from Mahiri Stewart.

At least one guard has been killed, four injured and about 33 million dollars stolen in the two recent attacks against the Beryllium courier team

The guards were attacked within the space of three weeks.

Beryllium is a member of the Guardsman Group.

Commander Overton says in light of these incidents, clients will soon have to pay the real cost of transporting cash.

The high powered firefights caused widespread disruption in cash circulation across at least three commercial banks in Kingston, St. Andrew and St. Catherine over the last 24-hours.

Commander Overton says despite the disruptions, the financial institutions have so far been reluctant to discuss the increased costs that come with the secure transportation of cash.

He says the recent attacks will cause continued upheaval in the security sector.

According to Overton, the industry upheaval could affect job security.

Berrilyum suspended some services on Monday to allow for its staff to benefit from counselling.

Several security guards hired to the company reportedly failed to show up for duties on Tuesday morning.

Mahiri Stewart for Nationwide News.