Crime doesn't pay, at least not very well, when it comes to robbing banks, a new study finds. With unprecedented access to financial data from British banks, economists have shown that bank robbers don't make a lot of money, certainly not enough to justify the risks involved in such an armed robbery. "The return on an average bank robbery is, frankly, rubbish," the researchers wrote in the statistics journal Significance. "It is not unimaginable wealth." It is so low, in fact, that it is not financially worthwhile for banks to install screens that could further reduce robberies. Economist Neil Rickman of the University of Surrey and his colleagues were given unusual access to financial data from the British Bankers' Assn. Such data about robberies are not normally disclosed to the public because it is commercially sensitive and could potentially encourage copycat robbers. Treating bank robbery as a business like any other, they used normal statistical measures to calculate profitability...
Tag Archives | Bank Robbers
The FBI and Toledo Police are investigating a Wednesday afternoon bank robbery at the Huntington Bank on Monroe Street in Toledo. The lone gunman walked into the bank around 3 p.m., wearing a plastic Darth Vader mask, when he demanded money from victim tellers. After getting an undisclosed amount of money,he fled the scene using a dark colored BMX bike.
This is so sad. Amazingly, many people’s reaction to the story is outrage…that our prisoners receive medical treatment. ABC News reports:
… Read the rest
A 59-year-old man has been jailed in Gastonia, N.C., on charges of larceny after allegedly robbing an RBC Bank for $1 so he could get health care in prison. Richard James Verone handed a female teller a note demanding the money and claiming that he had a gun, according to the police report.
He then sat down and waited for police to arrive. “… I say, ‘I’ll be sitting right over here, on the chair, waiting for the police,'” Verone told reporters, recalling the June 9 robbery in an interview from Gaston County Jail.
Verone said he asked for $1 to show that his motives were medical, not monetary, according to news reports. With a growth in his chest, two ruptured disks and no job, Verone hoped a three-year stint in prison would afford him the health care he needed.
Who knew? From Reuters:
Bank robberies in the United States take place most often in mid-morning, on Fridays and in southern and western states, according to government statistics released on Tuesday.
Robbers stole slightly more than $43 million last year nationwide in 5,546 robberies of banks, credit unions and other financial institutions, statistics released by the FBI showed.
The South led the way with 1,790 bank robberies, followed by the West with 1,691. California had the most robberies at 805, followed by Texas with 464. North Dakota, where there were two bank robberies, had the least.
Overall, there were 5,628 reported bank crimes — the 5,546 robberies along with 74 burglaries, eight larcenies and 13 extortions of financial institutions.
That marked a decrease from 2009, when there were 6,065 such crimes reported, the FBI said…
[continues at Reuters]
Bank robbery as metaphor? A masked Barack Obama lookalike has committed a string of six gunpoint bank heists in Austria over the past two years. Via Yahoo! News:
Austrian authorities are searching for a bank robber who uses an unusual disguise: He wears a Barack Obama mask during his holdups.
Police say the man, nicknamed the “Obama Robber” by local media, is wanted for six heists since 2008. The most recent took place Thursday in the hamlet of Handenberg, where the Obama-resembling suspect made off with an undisclosed amount of money after threatening bank employees with a gun.
Police official Markus Mitloehner said Friday that the man is thought to be a local since he speaks the regional dialect — with nary a trace of Obama’s more professorial accent.
Nothing like this ever happens in New York City. Why is all the action out in the suburbs? The New York Post reports:
A man wearing a Darth Vader mask and cape robbed a Chase bank branch on Long Island on Thursday, police said.
The thief entered a branch in Setauket at 11:30 a.m. and demanded money from a teller. But instead of using a light saber, “Darth” threatened the teller with a semiautomatic gun. The teller gave the robber some cash from the drawer.
The Darth Vader thief, described as between 6 feet and 6 feet 2 inches tall, took off heading east through the bank’s parking lot.