Last year marked the first in at least two decades that no one died during a bank robbery, burglary or larceny, according to the Federal Bureau of Investigation.
The record-low fatality statistic isn’t surprising, as the number of bank robberies has dropped by about 83% from two decades ago. Adam Hoogland, chief of the FBI’s Violent Crime Unit, said the decline in robberies was accelerated by the COVID-19 pandemic in 2020, when lobbies were closed and branches shut down.
“It is a crime of opportunity,” Hoogland said about bank robbery.
Banks’ federal deposit insurance puts robberies in the jurisdiction of the FBI, which
Jerry Clark, a criminal justice professor at Gannon University and retired FBI agent who specialized in bank crime, said factors like the increased use of cameras across society, the rise in cybercrime and developments in bank security have helped curb crime at branches through the years.
“Over the years, bank security got better, cameras got better, video is everywhere,” Clark said. “The technology advancements, between bank security and technology for society, it’s harder for an individual [to rob a bank].”
At Fifth Third, installing more cameras in and around branches has had a direct correlation with protecting against and catching perpetrators, said Thomas Neltner, director of enterprise workplace services and chief security officer at the bank.
The bank’s robbery rate is at its lowest in 20 years and is down about 70% over the last decade, Neltner said. The arrest rate has also climbed from around 30% to about 70% in the last five years, he added, as the bank uses about 60,000 cameras across its network to track suspicious and criminal activity.
Fifth Third also began implementing a new branch design that uses more glass windows and open-floor plans to curb robberies, Neltner said. Since 2019, just under 20% of Fifth Thirds have implemented its new layout. In that time, only one of those branches has been robbed.
“The cameras, the lobby leadership, the design of the branches all really made a big difference,” Neltner said. “Everything’s more visible.”
About 2% to 3% of the bank’s branches are robbed annually, a decrease from about 8% of the branches 10 years ago.
Fifth Third’s new branch design will come into play more broadly as the bank works to expand its
Fifth Third also manages an emergency contact center for employees and customers to report suspicious activity and other security concerns. Neltner said the bank gets about 30,000 calls per month.
Still, as bank robberies are on the decline, the FBI logged a record number of cybercrime complaints and losses in 2023. Clark said potential bank robbery perpetrators are turning to online theft, which he said is typically lower risk and higher reward.
“Bank robberies haven’t decreased to nothing, they’re on the decline,” Clark said. “The ones that have any savvy to them at all will utilize the online situation, but you’re still going to have what I call your desperate straits.”
Bank robberies typically only yield a few thousand dollars, now that banks keep less cash handy and often use technology like dated bills and dye packs, which make looted money more difficult to use. Hoogland said that although people who rob banks aren’t a monolithic group, many are looking for quick sources of money to pay for drug or gambling addictions.
The FBI agent said bank-robbery perpetrators can be dissuaded by busy, professional branches, so he advises employees to greet customers at the door and keep their stations clean.
Most people who rob banks don’t use weapons or violence and typically give oral commands, pass notes with instructions and/or threaten weapons, per the FBI’s data.
Neltner said 85% of the robberies at Fifth Third are done through passing notes with instructions. Most robberies are fast, lasting only 25 to 30 seconds, he said.
Law enforcement and bank management agree that the safest policy is for employees to follow directions and remember as much as they can to identify suspects.
“Most banks do a good job keeping their employees safe, which is the number one priority,” Hoogland said. “The money is insured. The money can go out the door. Are the employees safe? And almost every bank policy I’ve ever seen is, ‘Let the bank robber do what they need to do, get them out the door and be a good witness.'”