Rise in Bank Robberies in Colorado Sparks Concern
Even though bank robberies have been decreasing nationally in recent years, Colorado is still ranked among the highest. This has local bank owners worried as they are noticing a rise in incidents.
According to the FBI, Colorado had 104 bank robberies in 2023. This places it third in the United States, following California with 192 and Illinois with 116. Jennifer Waller, the CEO of the Colorado Bankers Association, noted that this issue isn’t new for the state.
“Unfortunately, Colorado has always had a high rate of robberies,” Waller remarked. “We are often competing with California and others for the top spot.”
Interestingly, while robberies have decreased since 2021—where the count was 191—the trend seems to be picking up again. Waller mentioned that some member banks have observed a slight increase in the past few months.
“About a year ago, we thought we were seeing a significant uptick,” she added, signaling growing concern. Law enforcement agencies, especially in Aurora, are also noting this trend. Recently, an armed robbery occurred at a local bank, demonstrating how swiftly these situations can become dangerous.
On September 24, officers were dispatched to a BMO Bank where a man threatened a teller with a gun. After fleeing with around $1,000, police identified him as Matthew Procella and arrested him a few days later through a license plate reader.
Although the Aurora Police Department (APD) doesn’t maintain separate data for bank robberies, they reported a 36.3% drop in overall robberies this year, with arrests increasing by 40%. However, the FBI has opted not to comment at this time due to the ongoing government shutdown.
When asked about the reasons behind this rise, Waller admitted it’s a complex matter without a clear explanation. “I often wonder if the accessibility of highways and interstates plays a role in facilitating these crimes,” she said. “It’s possible that economic downturns are motivating factors, which we’ve seen in the past.”
In response to these challenges, banks are taking serious measures to improve security. Many enhancements began during the pandemic and have become standard practice. Waller noted, “Safety for our customers and employees is our main goal,” highlighting that banks are now implementing measures such as locked doors to control access.
Advanced security technologies like dye packs and improved surveillance systems, alongside employee training, are also being prioritized. In some cases, banks are opting to hire armed guards to deter potential robbers. Waller pointed out that most robberies in Colorado tend to be non-violent, primarily involving promissory notes without the display of a weapon.
However, she underscored that even non-violent robberies can leave psychological scars. “Bank robbery is not a victimless crime,” Waller emphasized. “Everyone involved—customers and staff—experiences stress, regardless of the robbery type.”
Moreover, while traditional bank robberies remain a core concern, there’s a notable rise in fraud and scams, particularly schemes involving check laundering and organized crime targeting vulnerable individuals. “It’s surprising, but we are seeing more old-fashioned check laundering,” Waller explained, adding that law enforcement has traced organized crime activity behind this trend.
Additionally, Colorado is witnessing a new criminal behavior known as “jugging,” increasingly common in other regions. This trend entails robbing individuals after they withdraw cash. Waller advised customers to remain vigilant and not leave bank bags visible in their vehicles.
To combat this, banks and law enforcement are launching educational campaigns focused on public awareness and cash handling safety. Waller expressed her appreciation for the partnership with the FBI and the Rocky Mountain Safe Streets Task Force in addressing these issues.
Waller noted that historically, about 80% of bank robberies are resolved within a two-year period, but she didn’t disclose current statistics on this. For those who may be victims of these crimes, she offered straightforward advice: “Just comply with the robber’s demands immediately. Afterward, jot down everything you remember without discussing it with anyone. This helps preserve your memory.”
As banking crimes continue to evolve, Colorado’s financial institutions remain focused on balancing technology and customer safety. Waller concluded, “The safety of our customers and employees is our top priority.” Though the state isn’t currently leading in bank robbery counts, the emergence of new criminal schemes has raised alarms, and financial institutions are diligently monitoring these developments.
