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February 5, 2013

"Crime That No Longer Pays: Bank Robberies on the Decline as Criminals See Greater Rewards in Online Theft"

The title of this post is the headline of this interesting new piece from the Wall Street Journal.  Here are excerpts:

The recent surge in cybercrime comes with a silver lining: Bank robberies are plummeting, as criminals seem to wise up to the fact that heists just don't pay like they used to.

Bank holdups have been nearly cut in half over the past decade — to 5.1 robberies per 100 U.S. banks in 2011.  Though the nationwide crime rate is dropping, the decline in bank robberies far exceeds the decline in other crimes, according to Federal Bureau of Investigation data.  Preliminary 2012 figures released last week show the lowest tally in decades: 3,870 bank robberies, down from more than 5,000 a year earlier.

Bank-security experts and former FBI agents attribute the decline to stepped-up security and tougher sentencing for bank robbers.  Many also say that more recently, sophisticated criminals are recognizing bank robbery as a high-risk, low-reward crime and are migrating online....

Though electronic bank crimes have taken far more money than physical robberies in recent years, the shift has resulted in less violence.  In 2011, bank robberies left 88 injured and 13 dead — roughly 40% lower than both statistics for 2003, the earliest FBI figures available....

The crime hit its peak in 1991, with nearly 9,400 robberies, and is still favored by some. Last month, after a bank robbery in Elgin, Ill., police arrested Jeremy Evans of nearby Carol Stream, who the FBI believes is the so-called Ray-Bandit.  He is linked to 17 bank robberies in seven states while sporting a pair of Ray-Ban-style sunglasses.

Increasingly, though, transactions have migrated to automated teller machines and online — and criminals have followed them.  Bill Rehder, who investigated bank robberies for the FBI for 31 years, said the decline began in the 1990s, when banks began bolstering security at branches, including bulletproof barriers in front of tellers and vestibules that locked criminals inside.....

Also helping are federal sentencing guidelines for convicted bank robbers introduced in 1987, which allow judges to add years for a criminal history or use of a weapon, security experts said.  In the early 1980s, a former Los Angeles antiques dealer named Eddie Dodson single-handedly robbed 64 banks, before pleading guilty to eight robberies and serving 10 years in prison.  After his release, he robbed eight more banks, said Mr. Rehder, the FBI agent who helped catch him — twice.

Compare that with the case of Harold Walden, a teenager convicted in 1992 of robbing five banks who is serving a 73-year prison sentence.  "Once you're caught now, you're going to get hammered," Mr. Rehder said.  "That acts not only as a deterrent, but it also locks these [serial robbers] up for a long time."

Among the tough normative issues that these kinds of crime stories raise is the fundamental question of whether, as a result of formal and informal moves to replace real-world behaviors with more digital/cyber activities, we should be clebrating that there is much less violent crime even though there may now be much more overall crime.

Some related posts on the great modern crime decline: 

February 5, 2013 at 12:01 PM | Permalink

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Comments

It is a lot easier to get away with it online. It seems like no ever gets away with bank robberies anymore.

Posted by: MW | Feb 5, 2013 7:28:26 PM

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