Company Blog

Disappearing stolen cash..what banks can do about it

October 21, 2012

Applied DNA Sciences has expanded its use of SigNature DNA technology against robberies of banks, both at tellers and ATMs, most recently with security giant 3SI.  Why is this technology so critical?

A blog post by Security InfoWatch blogger GEOFF KOHL gives us some great insight and  has important information every security specialist should know.    

According to the FBI, there were 5,086 bank robberies in the U.S. last year.  That is down slightly year over year, but the monetary losses, and human victimization costs such as medical treatment and psychological damage from these attacks are still sky high.  In certain areas, such as smaller communities, in-bank robbery continues to increase.

But apparently these are no longer ready for prime time; that’s seemingly reserved for computer hackers trying to break into online banking systems.   

In 2011, direct monetary losses from in-bank robbery came to something north of $38 million in the U.S.   Of that amount, only about $8 million was recovered.   Eighty percent of stolen cash is lost.  How can that be in an era when surveillance cameras are widespread in every city (and were used in 97% of robbery incidents), police-connected alarm systems are everywhere (activated in 89.5% of incidents),  and when tracking technology seems to have been sharpened to a fine point?  The truth is, we can see who is committing the crimes and police are clearing them at a record rate.  But the criminals are not being linked to the evidence of their crime, in this case, the stolen cash. 

The reality is that only 24% of the institutions involved had smoke and dye packs available, like the kind used by 3SI Security and others, now expanding to include our SigNature DNA evidence-marking system.  Still fewer, 5.4%, had functioning electronic tracking devices.  These technologies and others like them combine to produce powerful deterrence in some of the most vulnerable parts of Europe and sorely need to be considered.