Figures produced by British Security Industry Association's (BSIA) dedicated SaferCash arm show that the number of attacks dropped significantly between 2010 - 2011, from 751 to 460.
Vigilance-securitymagazine.com reports that as a result of better agency cooperation, over 950 years' custodial sentencing has been passed down since 2009 for CVIT offences, with nearly two dozen perpetrators receiving in excess of 10 years for their crimes.
According to James Kelly, BSIA's chief executive, cash-in-transit offenders are also often linked to a wide range of other crimes, "from car key burglary to drug offences" - which can lead to longer sentences.
Bsia.co.uk says that CVIT crimes hit their peak in 2006, leading to the creation of a Cash & Valuables in Transit Crime Reduction Charter; an initiative supported by the Home Office, police, banking, retail and security industries.
However, despite the welcome news, Mr Kelly insisted that these agencies cannot rest on their laurels; adding that investment in security must continue.
"Customers, including banks, petrol stations and supermarkets, have also made a significant investment in best practice to help reduce the number of attacks on their premises, and their support also will remain invaluable as we look towards improving these statistics even further in the coming years," he said.