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Is The Move To Cashless System Leading To A Decline In Bank Robberies?

Most people get fascinated with bank robbery, and over the past, there have been movies about famous robbers such as John Dillinger, Butch Cassidy, and  Bonnie and Clyde. Recently a movie was released about prolific Canadian bank robber Gilbert Galvan who robbed 59 banks within five years.

The number of bank robberies has been dropping in the last half-century 

Surprisingly, the number of bank robberies has been dropping, and in the last half-century, the numbers have been lowest. However, one might associate the declining number of robberies with the shift into a cashless economy, as people are now handling less cash, with most payments going digital. However, that is not the case, as the downward trend began even before people started going cashless in the 2000s.

Movies frequently show bank robberies as meticulous conspiracies prepared by cunning criminals. This, however, is not accurate. Most bank robberies happen through people entering the building and asking for money from the teller.

Around 85% of robberies in 2021 were done at the teller desk. Many thieves gave the teller a note or demanded something out loud. Very few occurrences involved theft, which is when cash is taken without coming into direct contact with staff, or burglary, which occurs when robbers enter the bank outside of normal office hours.

Robbers always display or threaten to use a weapon when robbing banks

In more than half of all instances, a weapon is displayed, or a warning to utilize it is made. Due to this, numerous bank robberies end up being frightening and risky incidents for both bank clients and personnel. In heists since 1999, there have been 15 fatalities, 94 injuries, and 62 hostage situations.

Since there are several forms of bank robberies, individuals who are arrested face a range of prison terms. The maximum sentence for robbers who use violence or force is 20 years. If you cause injury to a person while robbing a bank, the maximum punishment rises to 25 years. If you murder someone, you risk death or life in prison.

Written by Payal Gupta

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