Where's The Money? | Bank robberies on the rise as economy falls
When Rockville Bank opened a branch in East Windsor in the fall, bank officials thought the location near Interstate 91 would make it more convenient for their customers.
The location also proved to be more convenient for bank robbers, who hit the branch twice within its first 30 days of being open.
“Anecdotally, there’s no question there seems to be an increase [in bank robberies] and we’ve been discussing it a lot more recently,” said Lindsey Pinkham, senior vice president of the Connecticut Bankers Association. “So much of it has to do with the economy. People become desperate.”
Pinkham noted that members of the bankers association have quickly realized that locations near highways, and away from congested downtown areas, have become desirable targets.
“It’s sadly ironic because we put the branches near highways for the convenience of the customers,” Pinkham said. “But it becomes a double-edged sword because it’s then more convenient for robbers.”
Rockville Bank president and CEO William McGurk is aware that his East Windsor branch faces these problems. “[Bank robberies] are part of the business,” he said. “But to have it happen twice in the first month, that was troubling.”
Bank officials are also troubled that bank bandits appear to be more threatening and violent in recent months.
As disturbing as the robberies are, Pinkham said bankers are increasingly worried about how these robberies are taking place. While there are still the “note-passers,” more robberies are conducted in a threatening manner, with guns and weapons clearly visible.
“It seems, and we’ve all noticed it, that [bank robbers] are becoming more violent,” he said. “It’s a scary situation considering many tellers at a lot of branches are younger woman or older people. It’s not a situation you want to be put in. I wouldn’t want to be there.”
Al Hazen, president and CEO of the Florida-based National Association of Bank Security, confirmed the increase of violence, pointing to FBI statistics that reveal that one bank employee was killed in 2006 robberies compared to three for just the first half of 2007.
“The number of people killed in 2007 was higher than 2006, 2005 and 2004,” he said. “It’s a reasonable assumption that these are desperate times because of the economy. People are having harder economic times and subsequently becoming violent and desperate.”
Hazen also said robbers are likely to “scout” a location before deciding to attempt a robbery. Having more people in the door can be a deterrent, as are other seemingly minor aspects such as an open window or a greeter.
“Robbers, especially the note-passers, like to be anonymous and they won’t like someone saying hello or goodbye,” Hazen said. “Factors like how accessible it is and how easy it can be to leave are also looked at. Usually, a robber doesn’t just strike. They visit a place more than once.”
Prevention Strategies
Increasing customer traffic is one way to make the branches less attractive to would-be bank bandits.
“New branches always start slow and it takes almost three years before it’s really up and running,” McGurk said. “My approach was because it wasn’t populated, we needed to get people in there. Busy branches mean less likelihood of a robbery.”
So he made customers an offer — a premium rate of 6 percent on a short-term certificate of deposit — that he hoped many would find difficult to refuse. The offer, for a limited time in December, was to get more people through the door. So far, the branch has not been held up again.
To ensure Rockville’s competitors didn’t perceive the CD offer as a predatory attack on their customers, McGurk wrote letters to other area bank officials to let them know about the situation.
“I wrote a letter to all of our competitors to tell them this was one of our deterrents against future robberies,” he said. “I know I’ve been really annoyed when other banks have tried special offers to get business. That wasn’t what we were doing here.”
The branch-specific offer used as a deterrent is unique and illuminates how banks are struggling to combat robberies, Pinkham said, adding, “I’ve never heard of that before.”
Another strategy became obvious to McGurk following one of the robberies. The handicapped-accessible teller desk was so low that the robber simply hopped over the desk and threatened the tellers.
“It was the first desk in the door and it was designed to make it easier for our handicapped customers,” McGurk said. “It also made it very attractive for a robber. I could have stepped over it.”
The robberies have caused Rockville Bank officials to undertake a re-evaluation of all its branches. They are examining the banks for possible design flaws — such as the handicapped-accessible teller desk. Additional security measures are also being added, such as placing security guards at some locations, installing special doors that can instantly lock on command if a possible robber is seen walking towards the branch, and placing television monitors in clear view that show security camera footage.
Other banks have banned hats, hoods and sunglasses, the common attire for bank robbers, evidenced by their photos caught on surveillance cameras. Some bank officials also have removed shrubs in the parking lot to provide a better view of those entering the facility.
“We don’t want to have a situation where there’s bullet-proof glass or steel bars that make it feel like people are barricaded in,” McGurk said. “We hired a security consultant who came in and looked everything over. It’s still about convenience for customers.”
Statistics on bank robberies lag by about 18 months, Pinkham said, but evidence points to a trend that robbers who aren’t caught strike multiple times. Take Paul Cannata, a 26 year-old Hartford man who was indicted last month for eight robberies that occurred between May and November, including one of the Rockville Bank robberies in East Windsor where he made off with more than $80,000.
The robberies don’t appear to be slowing down. Last week, state police released photos of yet two other bank robbers — while robbing a Putnam Bank in Ledyard and a People’s United Bank in Enfield.
Lt. Paul Vance, state police spokesman, said that police have seen “a fair number of bank robberies” in the past year, but added that most end up being solved as opposed to ending up as cold cases.
The reason, he said, is that many robbers will be successful once and continue to press their luck.
“They strike once, get away with it, and then strike again,” Vance said, who added that one person could end up being responsible for a handful of crimes.
Bank robberies have numbered approximately 80 per year in Connecticut since 2004. However, according to the FBI statistics, the preliminary numbers for the first six months of 2007 were 47 robberies, tracking higher from the previous year.
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