Brandon Lee
Bank robberies have captured the public imagination for decades, from the Wild West to modern-day heists. While bank robberies are relatively uncommon, with only about 2 in every 100 robberies involving a bank, they can have serious consequences. The widespread adoption of security practices, including electronic security, has reduced average losses and may have reduced violence in robberies. In this day and age, most bank robberies are reported very quickly, and the clearance rate for bank robbery is among the highest of all crimes.
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What You'll Learn
Bank robberies are becoming less frequent
There are several factors contributing to the decline in bank robberies. One of the main reasons is the rise of the internet and online sales, which has resulted in people using less cash and visiting banks less often. Additionally, improvements in surveillance technology, money tracking, and biometric security have made it more difficult for robbers to succeed. The widespread adoption of bank security practices, including cameras and alarm systems, has also contributed to higher clearance rates and reduced violence in robberies.
The decline in bank robberies has had a positive impact on public safety. In 2023, there were zero deaths reported as a result of bank robberies in the US, compared to 21 deaths in 2003. The risk of injury to employees and customers has also decreased. The decrease in bank robberies may also be due to the high prosecution and conviction rates for bank robbers. The FBI reports high solution rates for bank robberies, and most robbers are caught quickly due to the urban location of banks, multiple witnesses, and modern technology such as photographic evidence.
While bank robberies are becoming less frequent, they still occur and can be successful. The average dollar loss per offense for banks is higher than for other types of robberies, with an average of $4,213 per offense according to the FBI. Additionally, repeat robberies are common, with robbed branches facing a higher risk of being targeted again. However, overall, the decline in bank robberies is a positive trend, resulting in fewer traumatic experiences and a safer environment for the public.
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The rise of the internet is a major factor
Bank robberies have long been a subject of fascination for the public, with movies and books depicting heists planned by smart crooks. However, the reality is that most bank robberies are not as sophisticated, and the number of bank robberies has been declining for years. In fact, according to the FBI, there has been an 83% decline in bank robberies nationally over the last 20 years, a much sharper decline compared to the 50% decline in all types of robberies.
One of the major factors contributing to this decline is the rise of the internet and the subsequent shift to a cashless economy. The growth in online sales and the ease of performing transactions online or with just a phone mean that people are using less cash and visiting banks less often. As a result, banks have less cash on hand, making them less attractive targets for robbers.
The rise of the internet has also provided alternative avenues for criminal activity that are less physically dangerous than bank robberies. Thieves can now steal from people without confronting them directly, reducing the risk of injury or death for both perpetrators and victims.
In addition, the increased use of technology for financial transactions has improved surveillance and money tracking capabilities. Banks and law enforcement agencies can now more easily track and identify perpetrators, making it more difficult for robbers to get away with the crime.
The decline in bank robberies has led to a significant reduction in the number of deaths, injuries, and hostages taken during such traumatic events. For example, in 2003, there were 21 deaths in bank robberies, while in 2023, there were zero deaths reported as a result of bank robberies in the FBI data.
While the rise of the internet and the subsequent shift to a cashless economy may be the most significant factors, other factors such as increased punishments and improved security may also play a role in the decline of bank robberies.
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Surveillance technology and money tracking improvements
While the rise of the internet and online sales is largely responsible for the decline in bank robberies, improvements in surveillance technology and money tracking methods have also played a significant role.
Surveillance Technology
Surveillance cameras have been pivotal in improving bank security. The adoption of digital Internet Protocol (IP) cameras has been a notable advancement, offering higher resolution footage that can be easily archived and accessed remotely. This has been a significant upgrade from analog camera systems, which often produced poor-quality images that were of little use to law enforcement. IP cameras, with their remote accessibility and internet connectivity, are especially useful for ATM surveillance. They can be monitored by specialized security investigators who can direct branch security personnel when needed.
AI-fueled analytical tools are now being used in conjunction with surveillance cameras to scrutinize visitors to the bank in the lead-up to a robbery, identifying faces, license plates, and other unique markers. This technology can then sift through previous video archives to identify potential suspects based on physical characteristics and mannerisms.
Exterior surveillance cameras and automatic license plate readers also have the potential to document an offender's escape, providing valuable information for law enforcement.
Money Tracking Improvements
Tracking devices hidden in robbery money have been used to aid police in locating offenders. These devices use low-voltage transmitting microchips with transponders that are slim enough to be hidden in special packets of currency.
Another method is the use of "bait money", which is cash with sequential serial numbers recorded by the bank. When this money re-enters circulation, police can track its use to locate suspects.
Other Measures
In addition to these technological improvements, banks have implemented other measures to deter robberies and improve security. These include publicity campaigns designed to educate would-be offenders about the low financial gain and high likelihood of capture associated with bank robbery. Federal law also requires that all U.S. bank employees receive training on bank security, including how to activate alarms and cameras, use dye packs and tracking devices, and how to be a good witness and preserve evidence.
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Robbery clearance rates are high
Bank robberies have been declining over the years, with an 83% decrease in the US over the last 20 years. This is due to several factors, including the rise of the internet and online sales, which has resulted in people using less cash and fewer bank visits. Additionally, improvements in surveillance technology and money tracking, and biometric security have made it harder for robbers to succeed.
While bank robberies are becoming less frequent, they still incur significant losses. In 2019, robberies resulted in estimated losses of $482 million, with banks experiencing the highest average loss per offense at $4,213. Despite the declining number of bank robberies, the impact of each robbery can be significant.
The good news is that robbery clearance rates are high. The FBI reports solution rates for bank robberies, and the clearance rate for bank robbery is among the highest of all crimes, at nearly 60%. This is because most bank robberies are reported quickly, often while the crime is in progress, and they usually occur during daylight hours with multiple witnesses. Modern technology, including widespread surveillance cameras and alarm systems, also plays a crucial role, providing photographic evidence that can be used immediately to identify and locate the perpetrators.
The high clearance rate for bank robberies can be attributed to the combination of swift reporting, modern technology, and effective law enforcement responses. Forensic identification techniques, such as ballistic fingerprinting, have also improved, aiding in the identification and conviction of perpetrators. The severe prosecution of bank robbery in the United States serves as a deterrent for potential criminals, who often turn to other types of crimes or methods of making money.
The high clearance rates send a strong message to potential robbers and help maintain public safety and confidence in the financial system. While bank robberies may capture the public imagination, the reality is that they are becoming less common and less successful due to improved security measures and law enforcement responses.
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Bank robbery is commonly associated with the American Old West
One of the most famous Wild West heists was pulled off by the Dalton Gang in 1892. The gang, led by Bob and Emmett Dalton, set out to rob two banks simultaneously in their hometown. However, the townspeople recognized them, and the gang had to flee without completing the robbery. Another famous heist was carried out by Butch Cassidy's gang, the "Wild Bunch," in 1896. They robbed a bank in Montpelier, Idaho, escaping with around $7,000. Cassidy and his gang often used a remote hideout in the southeastern corner of Utah Territory known as Robbers Roost.
While bank robberies in the Old West were not as common as often believed, they have certainly captured the American imagination. The exploits of outlaws like Butch Cassidy and the Sundance Kid have been extensively dramatized in film, television, and literature, contributing to the "Wild West" mythos. Today, bank robberies in the United States are in decline, with an 83% decrease in such crimes over the last 20 years, thanks to improved surveillance technology, money tracking, and the rise of online sales reducing the need for physical bank visits.
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Frequently asked questions
There has been an 83% decline in bank robberies over the last 20 years. In 2023, there were no deaths reported as a result of bank robberies.
The average dollar loss per bank robbery in the US is $4,213.
Bank robberies are relatively uncommon, with only about 2 in every 100 robberies being bank robberies.
The clearance rate for bank robberies is nearly 60%, one of the highest of all crimes.
