When to Rob a Bank, with Freakonomics’ Stephen J. Dubner | Big Think

TL;DR

Data shows Fridays are common for bank robberies, but mornings offer higher earnings. The best time to rob a bank is never due to low ROI.

Transcript

So if your question is when to rob a bank which plainly is our question – that’s what we titled the book, you think about a few things. You think about, you know, time of day, day of week, part of the year and so on. And this grew out of the fact that I’d read about a bank robber in New Jersey who was finally arrested after robbing banks on six Thu... Read More

Key Insights

• ✋ Most bank robberies occur on Fridays, with mornings offering higher earnings.
• 💦 Bank robbers tend to work in the afternoon, missing out on the potential morning profits.
• 😘 Bank robbery is a poor career choice due to low ROI, high arrest rates, and minimal profit.
• 🧔‍♀️ Inside jobs in banks can be highly lucrative, as demonstrated by the woman in Iowa embezzling $2 million.
• 🤨 Suspicious behaviors like avoiding vacations can be indicative of white-collar crimes like embezzlement.
• 🤍 Cooperation with law enforcement after serving time is a common occurrence for former white-collar criminals.
• 🧔‍♀️ The story of the woman in Iowa highlights the irony of using criminal expertise to prevent crimes.

Questions & Answers

Q: What day and time are most common for bank robberies?

Most bank robberies occur on Fridays, and mornings typically offer higher earnings, although success rates remain consistent regardless of the day or time.

Q: Why is bank robbery considered a bad career move?

Bank robbery yields an average haul of $4,000 in the U.S., with high arrest rates after just three robberies, making it a low-return, high-risk criminal activity.

Q: Can inside jobs in banks be more lucrative than conventional bank robberies?

Yes, an inside job in a bank can be highly lucrative, as seen with a woman in Iowa embezzling $2 million over years through two sets of books.

Q: Why do white-collar criminals often avoid taking vacations?

White-collar criminals, like the woman in Iowa, may avoid vacations to prevent their illegal activities from being discovered, making frequent, suspicious vacations a red flag for potential embezzlement.

Summary & Key Takeaways

• Bank robbery data analysis reveals most robberies occur on Fridays, mornings yield more money.

• Bank robbers often target banks in the afternoon, despite higher earnings in the morning.

• Career-wise, bank robbery is a poor choice with low returns, high arrest rates, and little profit.