Colorado has become a focal point for bank robberies, with an increase in incidents prompting serious concern among banking leaders and law enforcement. According to the FBI, the state recorded 104 bank robberies in 2023, placing it third nationally behind California and Illinois. This trend has raised alarms, as there has been a slight increase in heists following a temporary decline in 2021, when over 191 robberies occurred.
Jenifer Waller, CEO of the Colorado Bankers Association, highlighted that Colorado has consistently had a high number of such crimes, often competing with California for the top position. While the numbers have decreased slightly after 2021, she noted a recent uptick in some areas. This has underscored the need for stronger measures, as incidents like the one in Aurora, where an armed robber took $1,000 from a BMO Bank branch, have shown how quickly these crimes can escalate.
Law enforcement agencies, including the Aurora Police Department, are responding with increased efforts to track and prevent such crimes, although their department does not separately track bank robbery statistics. They have seen an overall decrease in robberies and an increase in arrests, which suggests that current efforts are yielding some results. Waller emphasized the complexity of the issue, noting that while factors like highway accessibility could contribute to the rise in bank robberies, other elements such as economic downturns might also play a role.
In response to these concerns, Colorado banks are implementing enhanced security measures, including lockdown procedures, advanced technology, and employee training. These measures were accelerated by pandemic protocols and have become permanent fixtures in their operations. Despite the high numbers, Waller pointed out that most bank robberies in Colorado are nonviolent, often involving note jobs rather than actual physical confrontations. However, even nonviolent crimes take an emotional toll on those involved.
Additionally, the rise in fraud and scams, particularly involving check-washing schemes and organized crime groups, has prompted banks to remain vigilant. The introduction of ‘jugging’—where individuals are robbed after taking a withdrawal or carrying cash—has also become a new concern. Banks are now engaging in public education campaigns to raise awareness and encourage situational awareness among customers.
Collaboration with entities like the FBI and the Rocky Mountain Safe Streets Task Force is seen as crucial for addressing these challenges. Waller praised these partnerships, noting their effectiveness in identifying and convicting bank robbers. As the situation evolves, Colorado’s financial institutions are continuously adapting, balancing technology, vigilance, and customer safety. With the ongoing rise in criminal tactics and fraud schemes, the state’s financial institutions are closely monitoring the situation to ensure the safety of both customers and employees.