Wednesday, March 17, 2010

Conventional Bank Robbery is a Dying Breed

Two bank robbers were shot to death by police today trying to evade pursuit in Tennessee. They were the dumb ones. The smart ones live overseas in countries with no extradition treaties and/or lax computer-related criminal laws. Their weapons are their computers and their knowledge of programming languages. They don't shoot any one. They use your personal Windows computer to steal your money from your bank account. If they do make a mistake and get caught by the authorities, they may still possibly avoid imprisonment. American bank robbers will either have to move overseas or start hacking Russian and Chinese bank accounts. Alternatively, they can just become bankers and rob American banks by managing them into the ground while walking away with bogus bonuses they "earned" during the boom years. Perhaps the white-collar criminal is the only way an American can be a criminal bank robber these days without having to be a programmer. Too bad most of the agents in the FBI's White Collar Criminal Unit were all reassigned counterterrorism duties. While they were looking for terrorists, mortgage fraud became an epidemic.

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