Robbery in any form is a loss; to an individual, bank or an organization. So, what kind of robberies can we consider as a threat to the society? The white-collar robberies are on rise and such robberies can be credited to the increasing greed of the people and new technologies that emerge in the market every day. The article Forget the Tommy Gun clearly describes that the bank robberies can be easily foiled by the use of dye packs, combination of still and video cameras, and the Global Positioning Systems (GPS) that can help in capturing the robbers.
Why is robbing a bank not considered as a federal crime? I believe it’s because these robberies can be traced easily, but the crimes and losses that are caused by the high level officials in the company are more costly than the bank robber could do to a bank. Seven bank officials from the Bank of America and Wachovia Corporation were arrested for leaking sensitive customer information. Could these white-collar crimes be reduced if these seven employees were severely punished by the courts?
The article blames the banks for installing portable ATM units that lead to a robbery. Can we be sure that the ATM’s cannot be robbed if they were permanently installed in a location? The 1970 Bank Secrecy Act has been helpful to the federal regulators who can now fine the banks for not filing the Suspicious Activity Reports. Can we rely on the Security and Exchange commission for its help in finding the potential criminals? The financial institutions must use the technology to secure their systems and prevent the money laundering fraud. The criminals are tech-savvy and it is easy for them to capture bankcard info and personal identification numbers. So, can I follow the advice of the concealed informant and follow the big money to lead a luxurious life?