.
88-488: André Charles Stander (22 November 1946 – 13 February 1984) was a South African criminal and policeman. One of the most infamous bank robbers in South Africa's history, Stander was notorious for the audacious manner with which he carried out his crimes; he sometimes carried out the crime on his lunch break, often returning to the scene as an investigating officer. Stander was portrayed by American actor Thomas Jane in
176-459: A BBC documentary, once inquired on the effectiveness of an Uzi in a bank robbery, to which the firearms training instructor joked "that would be sixty-four pieces of evidence to convict you." The sawed-off shotgun , a common robbery weapon in the United Kingdom , Australia and New Zealand where handguns are difficult to obtain, is easily concealable but not particularly effective. While it
264-412: A bank account is considered indispensable by most businesses and individuals. Non-banks that provide payment services such as remittance companies are normally not considered as an adequate substitute for a bank account. Banks issue new money when they make loans. In contemporary banking systems, regulators set a minimum level of reserve funds that banks must hold against the deposit liabilities created by
352-590: A crime spree during the Great Depression with their associates, the Barrow Gang . They captured the public imagination with their image as a wild young couple. Along with their gang, they were credited with only ten bank robberies, often making away with as little as $ 80. They were eventually ambushed and killed on the roadside outside Bienville Parish, Louisiana by a posse of Texas and Louisiana lawmen. John Dillinger (June 22, 1903 – July 22, 1934) robbed banks in
440-610: A driver's license. Afterwards, he visited a used car lot and purchased a 1973 Ford Mustang from a dealer named Anthony Tomasello. On 10 February 1984, police pulled Stander over while he was driving and arrested him for driving an unregistered vehicle. Being relatively unknown to the American authorities at that time, Stander presented his false ID to the police, who recognized it as a forgery and subsequently seized it—adding driver's license forgery to his list of offenses—but believed his story about his identity and released him. Once released on
528-445: A fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee ; these receipts could not be assigned, only the original depositor could collect the stored goods. Gradually the goldsmiths began to lend money out on behalf of the depositor , and promissory notes , which evolved into banknotes, were issued for money deposited as
616-551: A gun to rob the Valley bank of Santa Clara of $ 7,000. They then used a hired automobile to escape and were chased by police and a posse of citizens also in automobiles, eventually leading to their capture. On December 21, 1911, two armed men of the Bonnot Gang intercepted a bank messenger outside a branch of Société Générale in Paris. They stole a satchel of money he was about to deliver to
704-425: A large number of small to medium-sized institutions in its banking system. As of November 2009, China's top four banks have in excess of 67,000 branches ( ICBC :18000+, BOC :12000+, CCB :13000+, ABC :24000+) with an additional 140 smaller banks with an undetermined number of branches. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy each had more than 30,000 branches – more than double
792-417: A loan to the goldsmith. Thus, by the 19th century, we find in ordinary cases of deposits, of money with banking corporations, or bankers, the transaction amounts to a mere loan, or mutuum , and the bank is to restore, not the same money, but an equivalent sum, whenever it is demanded and money, when paid into a bank, ceases altogether to be the money of the principal (see Parker v. Marchant, 1 Phillips 360); it
880-622: A main plot in many heist films . Some of these films are based on the lives of historic bank robbers, such as Bonnie and Clyde (1967), Butch Cassidy and the Sundance Kid (1969), The Newton Boys (1998) and Public Enemies (2009) (based on the life of John Dillinger). Dog Day Afternoon (1975), Set It Off (1996), and The Bank Job (2008) are based on actual bank robberies. Other notable but fictional examples include Point Break (1991), Heat (1995), Henry's Crime (2010), and The Town (2010). In The Town , bank robbery
968-546: A movie theater in Chicago , Illinois , where he was shot and killed by multiple agents. George "Baby Face" Nelson (December 6, 1908 – November 27, 1934) was a bank robber and former associate of John Dillinger. He is notable for having killed more FBI agents in the line of duty than any other person. He was killed in a shootout known as The Battle of Barrington , outside Chicago. Edwin Alonzo Boyd (April 2, 1914 – May 17, 2002)
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#17328522757801056-528: A portion of their current liabilities. In addition to other regulations intended to ensure liquidity , banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords . Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in
1144-557: A prior incident when he and his fellow officers shot and killed 176 unarmed schoolchildren during the 1976 Soweto uprising . However, Stander was not present with the police contingent at Thembisa when the shooting of unarmed schoolchildren took place. Other accounts have suggested that Stander, who completed his national service in Angola during the South African Border War , may have also been bored with civilian life and craved
1232-416: A safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default . Thus the goldsmiths of London became the forerunners of banking by creating new money based on credit. The Bank of England originated the permanent issue of banknotes in 1695. The Royal Bank of Scotland established the first overdraft facility in 1728. By
1320-483: A series of bank robberies in Victoria and New South Wales. Herman Lamm (April 19, 1890 – December 16, 1930), The first "modern" bank robber, who developed techniques of surveillance and planning, such as casing and getaway maps, used by many latter stick-up men such as John Dillinger. Bonnie Parker and Clyde Barrow , better known as "Bonny and Clyde" (active February 1932 – May 1934), were an American couple who went on
1408-399: A variety of different ways including interest, transaction fees and financial advice. Traditionally, the most significant method is via charging interest on the capital it lends out to customers. The bank profits from the difference between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference
1496-557: Is Berenberg Bank (founded in 1590). Banking as an archaic activity (or quasi-banking ) is thought to have begun as early as the end of the 4th millennium BCE, to the 3rd millennia BCE. The present era of banking can be traced to medieval and early Renaissance Italy, to the rich cities in the centre and north like Florence , Lucca , Siena , Venice and Genoa . The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. Giovanni di Bicci de' Medici set up one of
1584-413: Is "the taking or attempting to take anything of value from the care, custody, or control of a person or persons by force or threat of force or violence or by putting the victim in fear." By contrast, burglary is "unlawful entry of a structure to commit a felony or theft ." Bank robbery occurs in cities and towns. This concentration is often attributed to there being more branches in urban areas, but
1672-446: Is a bank regulation , which sets a framework within which a bank or depository institution must manage its balance sheet . The categorisation of assets and capital is highly standardised so that it can be risk weighted . After the financial crisis of 2007–2008 , regulators force banks to issue Contingent convertible bonds (CoCos). These are hybrid capital securities that absorb losses in accordance with their contractual terms when
1760-400: Is a Bills of Exchange Act that codifies the law in relation to negotiable instruments , including cheques, and this Act contains a statutory definition of the term banker : banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that
1848-403: Is a list of the largest deals in history in terms of value with participation from at least one bank: Currently, commercial banks are regulated in most jurisdictions by government entities and require a special bank license to operate. Usually, the definition of the business of banking for the purposes of regulation is extended to include acceptance of deposits, even if they are not repayable to
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#17328522757801936-512: Is believed to have stolen nearly a hundred thousand rand. After robbing nearly 20 banks, Stander was arrested and sentenced to 75 years in prison on 6 May 1980. However, since many of the charges in the sentence ran concurrently, he faced an actual sentence of 17 years. Stander met Allan Heyl and Lee McCall at the Zonderwater maximum security prison. After his first trial, Stander claimed that his disillusionment with police service stemmed from
2024-492: Is described as an element of life for residents of Charlestown, a neighborhood in Boston. However, this is exaggerated and is disputed by residents of Charlestown, who describe it as outdated, as of when the film The Town was made. Up to the early 2000s, Charlestown was notorious for criminals whose specialty was robbery but also other lucrative crimes. Bank A bank is a financial institution that accepts deposits from
2112-512: Is not certain that the first time someone robs a bank they will be caught, if they continue to rob banks, they will most likely be caught. Few criminals are able to make a successful living out of bank robbery over the long run. Bank robberies are still fairly common and are indeed successful, although eventually many bank robbers are found and arrested. A report by the Federal Bureau of Investigation states that, among Category I serious crimes,
2200-506: Is prosecuted. United States Federal Sentencing Guidelines for bank robbery gives long prison terms, which are usually further enhanced by the use or carrying of loaded firearms, prior criminal convictions, and the absence of parole from the federal prison system. As with any type of robbery, the fact that bank robbery is also inherently a violent crime typically causes corrections administrators to place imprisoned bank robbers in harsher high-security institutions. Bank robberies are often
2288-431: Is referred to as the spread between the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclical and dependent on the needs and strengths of loan customers and the stage of the economic cycle . Fees and financial advice constitute a more stable revenue stream and banks have therefore placed more emphasis on these revenue lines to smooth their financial performance. In
2376-518: Is the criminal act of stealing from a bank , specifically while bank employees and customers are subjected to force, violence, or a threat of violence . This refers to robbery of a bank branch or teller , as opposed to other bank-owned property, such as a train , armored car , or (historically) stagecoach . It is a federal crime in the United States . According to the Federal Bureau of Investigation 's Uniform Crime Reporting Program, robbery
2464-477: Is then the money of the banker, who is bound to return an equivalent, by paying a similar sum to that deposited with him, when he is asked for it. The goldsmith paid interest on deposits. Since the promissory notes were payable on demand, and the advances (loans) to the goldsmith's customers were repayable over a longer time-period, this was an early form of fractional reserve banking . The promissory notes developed into an assignable instrument which could circulate as
2552-705: The Federal Deposit Insurance Corporation (FDIC) as a regulator. However, for soundness examinations (i.e., whether a bank is operating in a sound manner), the Federal Reserve is the primary federal regulator for Fed-member state banks; the Office of the Comptroller of the Currency (OCC) is the primary federal regulator for national banks. State non-member banks are examined by the state agencies as well as
2640-631: The Great Depression , the U.S. Savings and Loan crisis in the 1980s and early 1990s, the Japanese banking crisis during the 1990s, and the sub-prime mortgage crisis in the 2000s. The 2023 global banking crisis is the latest of these crises: In March 2023, liquidity shortages and bank insolvencies led to three bank failures in the United States , and within two weeks, several of the world's largest banks failed or were shut down by regulators Assets of
2728-546: The Midwestern United States . Some considered him a dangerous criminal, while others idolized him as a present-day Robin Hood . He gained this latter reputation (and the nickname "Jackrabbit") for his graceful movements during bank heists, such as leaping over the counter (a movement he supposedly copied from the movies) and many narrow getaways from police. On July 22, 1934, FBI agents cornered Dillinger in an alley outside
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2816-529: The Norrmalmstorg robbery in Stockholm , Sweden. After their release, the hostages defended their captors and refused to testify against them. This led to an academic interest in a phenomenon soon after referred to as Stockholm syndrome , wherein hostages, during captivity, paradoxically form a sympathetic bond with their captors as a survival strategy. Stockholm syndrome is a "contested illness" due to doubt about
2904-563: The Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths. The definition of a bank varies from country to country. See the relevant country pages for more information. Under English common law , a banker is defined as a person who carries on the business of banking by conducting current accounts for their customers, paying cheques drawn on them and also collecting cheques for their customers. In most common law jurisdictions there
2992-549: The Times , the 20th according to the Post ). Two men, James Honeyman and William J. Murray, entered the City Bank of New York using forged keys. This allowed them to empty the vault of more than $ 245,000 in bank money. According to the Times , it cannot be confirmed if this was a robbery or a burglary. The Post later corrected this claim upon learning of a previous 1798 robbery of $ 162,821 from
3080-704: The ancient world . In the history of banking , a number of banking dynasties – notably, the Medicis , the Pazzi , the Fuggers , the Welsers , the Berenbergs , and the Rothschilds – have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena (founded in 1472), while the oldest existing merchant bank
3168-414: The arrest rate for bank robbery in 2001 was second only to that of murder . Today most organized crime groups tend to make their money by other means, such as extortion , drug trafficking , gambling , prostitution , loan sharking , identity theft , or online scamming and phishing . A further factor making bank robbery unattractive for criminals in the United States is the severity with which it
3256-544: The " expropriation " of 241,000 rubles (approximately 3.96 million 2018 US dollars) by Bolsheviks organized by (among others) Vladimir Lenin and Joseph Stalin . The first bank robbery in Denmark occurred August 18, 1913 in the bank Sparekassen for København og Omegn at Østerbro in Copenhagen . Two men, Danish salesman Lindorff Larsen and a German machinist Güttig, armed with revolvers, got away with 9000 Danish kroner. Güttig
3344-474: The 15,000 branches in the United Kingdom. Between 1985 and 2018 banks engaged in around 28,798 mergers or acquisitions, either as the acquirer or the target company. The overall known value of these deals cumulates to around 5,169 bil. USD. In terms of value, there have been two major waves (1999 and 2007) which both peaked at around 460 bil. USD followed by a steep decline (−82% from 2007 until 2018). Here
3432-709: The 2003 film Stander . The son of a prominent figure in the South African Prison Service , Major General Francois Jacobus Stander (1916–2001), André was under pressure from an early age to pursue a career in law enforcement. He enrolled at the South African Police training college near Pretoria in 1963, graduating at the top of his class. Shortly afterwards he joined the Kempton Park criminal investigation department. In 1977, Stander flew to Durban and robbed his first bank. Between 1977 and 1980, he
3520-511: The Bank of Pennsylvania at Carpenters' Hall. The Carpenters' Hall theft also may not have technically been a robbery as there were no signs of force and the thief may have had a key. On September 14, 1828, five men tunneled through a sewage drain in George Street, Sydney and stole approximately £14,000 in promissory notes and coins from the vault of the Bank of Australia . It has been described as
3608-522: The FDIC. National banks have one primary regulator – the OCC. Each regulatory agency has its own set of rules and regulations to which banks and thrifts must adhere. The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 as a formal inter-agency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. Although
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3696-567: The UK, for example, the Financial Services Authority licenses banks, and some commercial banks (such as the Bank of Scotland ) issue their own banknotes in addition to those issued by the Bank of England , the UK government's central bank. Banking law is based on a contractual analysis of the relationship between the bank (defined above) and the customer – defined as any entity for which
3784-639: The bank agrees to conduct an account. The law implies rights and obligations into this relationship as follows: These implied contractual terms may be modified by express agreement between the customer and the bank. The statutes and regulations in force within a particular jurisdiction may also modify the above terms or create new rights, obligations, or limitations relevant to the bank-customer relationship. Some types of financial institutions, such as building societies and credit unions , may be partly or wholly exempt from bank license requirements, and therefore regulated under separate rules. The requirements for
3872-524: The bank containing roughly five thousand pounds and escaped in a stolen vehicle. This was the first successful use of a getaway car in a bank robbery. On February 16, 1984, more than $ 160,000 was stolen from the Merchants and Farmers Bank and Trust Co. in Leesville, Louisiana using a stolen getaway helicopter. The 1920s and 1930s saw a significant increase in bank robberies in the United States. This led to
3960-481: The bank manager , but that is not always a successful idea as banks have often removed the manager's ability to open the vault. The police have new measures at their disposal to catch bank robbers, such as well-armed SWAT teams. Forensic identification techniques have also improved greatly; should a bank robber fire a gun, the police can trace the bullet to the exact firearm using ballistic fingerprinting . Martin Kemp , in
4048-411: The bank will not repay it), and interest rate risk (the possibility that the bank will become unprofitable, if rising interest rates force it to pay relatively more on its deposits than it receives on its loans). Banking crises have developed many times throughout history when one or more risks have emerged for the banking sector as a whole. Prominent examples include the bank run that occurred during
4136-667: The bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer , EFTPOS , and automated teller machines (ATMs). Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits , and by issuing debt securities such as banknotes and bonds . Banks lend money by making advances to customers on current accounts, by making installment loans , and by investing in marketable debt securities and other forms of money lending. Banks provide different payment services, and
4224-704: The beginning of the 19th century Lubbock's Bank had established a bankers' clearing house in London to allow multiple banks to clear transactions. The Rothschilds pioneered international finance on a large scale, financing the purchase of shares in the Suez canal for the British government in 1875. The word bank was taken into Middle English from Middle French banque , from Old Italian banco , meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during
4312-515: The business of banking for the purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking. However, in many cases, the statutory definition closely mirrors the common law one. Examples of statutory definitions: Since the advent of EFTPOS (Electronic Funds Transfer at Point Of Sale), direct credit, direct debit and internet banking ,
4400-533: The capital of the issuing bank falls below a certain level. Then debt is reduced and bank capitalisation gets a boost. Owing to their capacity to absorb losses, CoCos have the potential to satisfy regulatory capital requirement. The economic functions of banks include: Banks are susceptible to many forms of risk which have triggered occasional systemic crises. These include liquidity risk (where many depositors may request withdrawals in excess of available funds), credit risk (the chance that those who owe money to
4488-483: The cheque has lost its primacy in most banking systems as a payment instrument. This has led legal theorists to suggest that the cheque based definition should be broadened to include financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties, even if they do not pay and collect cheques . Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers in
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#17328522757804576-423: The cross-selling of complementary products. Banks face a number of risks in order to conduct their business, and how well these risks are managed and understood is a key driver behind profitability, and how much capital a bank is required to hold. Bank capital consists principally of equity , retained earnings and subordinated debt . Some of the main risks faced by banks include: The capital requirement
4664-408: The customer's order – although money lending, by itself, is generally not included in the definition. Unlike most other regulated industries, the regulator is typically also a participant in the market, being either publicly or privately governed central bank . Central banks also typically have a monopoly on the business of issuing banknotes . However, in some countries, this is not the case. In
4752-459: The excitement afforded by a life of crime. On 11 August 1983, Stander and McCall, along with five other inmates, were taken from the prison's premises for a physiotherapy appointment. Once the prisoners were left alone with the physiotherapist, Stander and McCall overpowered her and escaped. The other prisoners refused to participate and stayed behind. Stander and McCall returned to Zonderwater on 31 October 1983, in order to spring Allan Heyl from
4840-524: The facility where he was taking a trade test. From that day until the end of January 1984, the three began robbing banks together, under the nom de guerre of the Stander Gang ;– a term coined by the news media. McCall was killed on 30 January 1984, in a police raid on the gang's hide-out in Houghton Estate . Heyl fled to Greece, then England, then Spain, and eventually back to England, where he
4928-697: The first armed bank robbery murder in US history. The crime is detailed in the historical fiction novel, Abel Bodied: Murder at the Malden Bank written by Michael Cloherty. On October 27, 1878, the Manhattan Savings Institution was robbed . It was the largest bank robbery in U.S. history. The heist known as the 1907 Tiflis bank robbery in June 1907 in the Russian Empire resulted in 40 deaths, 50 injuries, and
5016-646: The first bank robbery in Australia and also the largest in Australian history. On December 15, 1863, Postmaster Edward Green walked into the First National Bank on Pleasant Street in Malden, Massachusetts , shot the 17-year-old bookkeeper, Frank Converse, and stole $ 3,000 in large bills and $ 2,000 in small bills. The directors of the bank offered a $ 6,000 reward for the arrest of the murderer. This has been described as
5104-407: The first film footage used to apprehend and identify bank robbers. The robbery occurred on April 12, when a 24-year-old male pointed a gun at a teller while his accomplice, an 18-year-old female, stuffed over $ 2,000 into a bag. A third accomplice drove the getaway car. The three were captured shortly after video footage of the robbery aired on national news . In 1973, four hostages were taken during
5192-624: The formation of the Federal Bureau of Investigation (FBI) and the designation " Public Enemy " for significant wanted criminals. This era saw the rise of famous gangs such as the Dillinger Gang , the Barrow Gang (1932–1934), and the Barker–Karpis gang . Other famous public enemies included Pretty Boy Floyd (Public Enemy No, 1 in 1934) and Machine Gun Kelly . In 1957, security cameras installed at St. Clair Savings and Loan in Cleveland recorded
5280-589: The funding of these loans, in order to ensure that the banks can meet demands for payment of such deposits. These reserves can be acquired through the acceptance of new deposits, sale of other assets, or borrowing from other banks including the central bank. Activities undertaken by banks include personal banking , corporate banking , investment banking , private banking , transaction banking , insurance , consumer finance , trade finance and other related. Banks offer many different channels to access their banking and other services: A bank can generate revenue in
5368-430: The hold-up was recorded, 55% were committed by lone offenders, 25% by pairs, and 20% by three or more robbers. Unarmed offenders accounted for 28% of robberies, caused the fewest injuries to victims (one percent of all victims' injuries), were the type of robber who most often used a note to threaten bank staff (46% of all their robberies), and failed most often in their robbery attempts (33% failure). Unarmed gangs inflicted
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#17328522757805456-442: The issue of a bank license vary between jurisdictions but typically include: Banks' activities can be divided into: Most banks are profit-making, private enterprises. However, some are owned by the government, or are non-profit organisations . The United States banking industry is one of the most heavily regulated and guarded in the world, with multiple specialised and focused regulators. All banks with FDIC-insured deposits have
5544-409: The largest 1,000 banks in the world grew by 6.8% in the 2008–2009 financial year to a record US$ 96.4 trillion while profits declined by 85% to US$ 115 billion. Growth in assets in adverse market conditions was largely a result of recapitalisation. EU banks held the largest share of the total, 56% in 2008–2009, down from 61% in the previous year. Asian banks' share increased from 12% to 14% during
5632-450: The legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated. The business of banking is in many common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business . When looking at these definitions it is important to keep in mind that they are defining
5720-520: The legitimacy of the condition. George Leonidas Leslie (1842 – June 4, 1878) was involved in 80% of the bank robberies in the U.S. from 1869 to his death in 1878. He was involved in the Manhattan Savings Institution robbery. Jesse James (September 5, 1847 – April 3, 1882) was one of the most notorious bank robbers in American history. Ned Kelly (December 1854 – 11 November 1880), Australian bushranger and folk hero, pulled off
5808-451: The local police. Based on Tomasello's information, a police tactical unit surrounded the apartment that Stander had been using as a hideout, but Stander was not there. He had acquired a bicycle to use while his car was with Tomasello to be repainted. He had left the apartment on the bicycle and returned only after the police had surrounded it. As he unknowingly rode up to the apartment complex, officer Michael van Stetina—who had been posted on
5896-444: The media are rare. The majority of bank robberies taking place today are so-called "note jobs." These are usually accomplished by simply passing a written note to the teller demanding money. The idea is to attract as little attention as possible. In most cases, other customers present in the bank during a robbery are unaware of what is occurring. Standard bank policy is to avoid violence as much as possible, so they will normally hand over
5984-452: The money and try to obey the robber's demands. The robber usually makes away with cash, but in small amounts. According to British Bankers' Association data, in 2007 there were 106 attempted or successful robberies in Britain in which an average of 1.6 persons were involved. One third of attempts came up empty while the average haul for a successful attempt was equivalent to US$ 46,600. Yet 20% of
6072-738: The money is." This is, in fact, a quote invented by the interviewer to make the story more interesting. However, when asked, Sutton did write this statement and autograph it for his physician, so in a sense it is accurate. In the 1920s, American banks added the security of alarm systems and concrete-reinforced, blast-proof vaults. Modern banks have implemented modern security measures, like motion-sensing and high resolution color security cameras , time-locked heavy vault doors, silent alarms, exploding dye packs , bait money , and GPS tracking devices. Some banks supplement this protection with armed or unarmed security guards . Today's biometric technology makes non-violent methods of gaining access, even by
6160-485: The most experienced safe hackers and code crackers, nearly impossible. Modern vaults and safes are also reinforced to the point that the amount of explosives needed to blow them open would likely create unwanted attention and run the risk of harming the building to the point of collapse. By their very nature, even the most impregnable vault or safe eventually needs to be able to be opened and closed by someone. To circumvent vault and safe security features, robbers often kidnap
6248-481: The most famous Italian banks, the Medici Bank , in 1397. The Republic of Genoa founded the earliest-known state deposit bank, and Banco di San Giorgio (Bank of St. George), in 1407 at Genoa , Italy. Fractional reserve banking and the issue of banknotes emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London , who possessed private vaults , and who charged
6336-505: The most injuries to victims (51%) and failed the least in their robbery attempts (6% failure). Armed robbers used a disguise more often compared to unarmed robbers, with armed pairs employing disguises most often (59%). According to the Sourcebook of Criminal Justice Statistics injuries occur in about two percent and a death occurs in less than one percent of all U.S. bank robberies. Violent takeover bank robberies that are often portrayed in
6424-493: The number of bank robberies is higher than the number of branches. This has advantages both for bank robbers and for law enforcement . In urban areas the transportation infrastructure is more highly developed, especially where banks tend to cluster near retail shopping areas and commercial districts . Such banks are highly profitable targets for robbers, who are then afforded a number of potential escape routes. Law enforcement benefit by being able to respond more quickly, and
6512-437: The odds of catching a bank robber on or near the scene is higher than other types of crime. This is because most bank robberies are reported very quickly while the crime is in progress; most bank robberies occur during daylight hours, have multiple witnesses and with modern technology often produce photographic images that can be distributed and used immediately to canvass the local area. Consequently, many bank robbers are caught
6600-455: The past 20 years, American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions. This helps in making a profit and facilitates economic development as a whole. Recently, as banks have been faced with pressure from fintechs, new and additional business models have been suggested such as freemium, monetisation of data, white-labeling of banking and payment applications, or
6688-507: The perimeter—recognised Stander and attempted to stop him. Stander tried to get away, but as Stetina prevented his escape a struggle for the officer's shotgun began. The gun discharged and Stander was hit; he fell onto the apartment complex's driveway, bleeding profusely. Stetina immediately radioed for an ambulance. Although officer Stetina tried to administer first aid, Stander's wounds were too extensive and he bled to death before an ambulance arrived. Bank robbery Bank robbery
6776-479: The public and creates a demand deposit while simultaneously making loans . Lending activities can be directly performed by the bank or indirectly through capital markets . Whereas banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking , under which banks hold liquid assets equal to only
6864-473: The sale of the gang's recently purchased sailing yacht—the Lilly Rose —that they planned to use for their final getaway once they had acquired enough money. While Stander remained in the United States, international arrest warrants and all points bulletins were issued for his arrest. Trying to make the best of the situation, Stander created the false identity of an Australian author named "Peter Harris" and forged
6952-543: The same day. The clearance rate for bank robbery is among the highest of all crimes, at nearly 60%. The urban location of the crime also contributes to its repeat victimization profile, a measure of how quickly a crime victim will suffer a repeat of the original crime. One study carried out by the Home Office found that in England, one third of banks at which a robbery has occurred will be robbed again within three months, while
7040-617: The same evening, Stander returned to the police impound lot where his seized Mustang was being kept, broke in and stole the car. On the following morning, Stander returned to the same used car lot where he had purchased the vehicle and asked the same dealer, Tomasello, to have the car re-painted in a different colour. However, Tomasello had just read about the Stander Gang in a local newspaper. He told Stander that he would help him, got his information, and as soon as Stander had left, Tomasello called his lawyer. On his lawyer's advice, Tomasello called
7128-457: The same study found that in Tallahassee, Florida , one quarter of robbed banks will suffer repeat robbery within a week, and over half of robbed banks will be robbed again within a month. The Australian Institute of Criminology analyzed trends in bank robbery over a four-year period. Of the 808 bank robbery incidents between January 1998 and May 2002 in which the number of offenders involved in
7216-521: The successes would later prove less than successful by virtue of the robbers being arrested. Under federal law, bank robbery in the United States is defined, and made illegal, primarily by the bank robbery statute in 18 U.S.C. § 2113 states. According to The New York Times and the Saturday Evening Post , the first bank robbery in the United States occurred in March 1831 (the 19th according to
7304-414: The year, while the share of US banks increased from 11% to 13%. Fee revenue generated by global investment in banking totalled US$ 66.3 billion in 2009, up 12% on the previous year. The United States has the most banks in the world in terms of institutions (5,330 as of 2015) and possibly branches (81,607 as of 2015). This is an indicator of the geography and regulatory structure of the US, resulting in
7392-570: Was a Canadian bank robber and leader of the Boyd Gang , which pulled off a string of heists, including the largest in Toronto history. Clarence Anglin , and brother John Anglin , the infamous Alcatraz escapees, robbed a bank in Alabama. In the early 20th century, Willie Sutton (June 30, 1901 – November 2, 1980) was asked why he robbed banks, and he was famously reported as answering: "Because that's where
7480-602: Was arrested August 30 and Lindorff Larsen committed suicide after having fled the police. Bank robbery is commonly associated with the American Old West due to a few infamous examples and portrayal in fiction. The Foundation for Economic Education (FEE) in their research, found the scene of the Western bank-robbery to be generally a myth, identifying less than 10 definite bank robberies between 1859 and 1900 across 15 frontier states. Grunge.com pointed out that FEE's research
7568-462: Was caught, tried, and sentenced to nine years in prison for robbery and a related firearms charge. After serving his time in the UK, he was extradited back to South Africa where he was sentenced to a further 33 years in prison. Heyl was released on parole on 18 May 2005. While police were closing in on McCall in South Africa, Stander had been in Fort Lauderdale, Florida , trying to arrange for
7656-788: Was conducted before many states and the Library of Congress began publishing historical newspapers online, and while bank robberies in the Old West were still uncommon, there were many more than previously assessed. On February 13, 1866, several men believed to be members of the James-Younger Gang robbed the Clay County Savings Association in Liberty, Missouri , shooting to death an innocent street bystander, 17-year-old student George Clifford "Jolly" Wymore, and escaping with $ 60,000. This
7744-555: Was the first successful daylight bank robbery during peacetime in the US. Previous robberies such as from the banks in St. Albans, Vermont more than a year earlier were perpetrated by Confederate soldiers , which some historians consider to be not robberies proper but acts of war . The August 29, 1909 edition of The Rich Hill Tribune contained a front-page news story entitled "Bank Robbers in Motor Car" and according to which two robbers used
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