In the past few years, Germany has become a hotbed for ATM bombings, the Financial Times wrote. That’s because Germans still favor cash over electronic payments, making ATMs ripe targets. Last year, about 30 million euros were stolen via ATM bombings, up 53% from a year earlier. Loading Something is loading.
Thanks for signing up!
Access your favorite topics in a personalized feed while you’re on the go.
The German preference for physical currency may be costing the country dearly, as Europe’s largest economy has seen an explosion in crime that features ATM bombings, the Financial Times reported.
While Germans have long favored buying things with cash instead of cards or other form of electronic payments, organized criminals have exploited this habit in the last few years.
Last year, 496 ATMs were blown up as part of cash-grab heists, a 27% increase from 2021, the Federal Criminal Police Office told the FT. On average, such raids could yield 100,000 euros, equivalent to $110,686.5.
That translated to 30 million euros that were stolen via ATM bombings last year, up 53% from a year earlier.
More than half of Germans prefer physical banknotes over cards or digital tender, meaning that the country has over 55,000 ATMs filled with high-denomination euros. For the culprits, it’s a unique target, as other European states undergo a decline of cash machines.
Though no one has been seriously injured or killed during these bombings, they are not risk-free ventures, FT wrote.
Often, the culprits themselves get hurt in the explosion, while the car ride away is characterized by high speeds and the risk of fiery collisions. It’s a danger made worse by fuel canisters the robbers carry for refueling, which also discourages officers from shooting at the vehicle.
The German response has been largely fragmented. Efforts to implement effective ATM and law enforcement standards are diluted by the fact that Germany has over 1,500 lenders, while each province leads its own policing task force.
And while countries such as the Netherlands have implemented protection systems that glue cash together in the case of a raid, this hasn’t been carried out in Germany over health and safety considerations.
Meanwhile, attempts to fortify ATMs against earlier types of detonations were thwarted when the criminals switched to different explosives, according to the FT.
Still, some success has occurred, with police groups in one province learning to analyze potential escape routes as a way to prepare. And prosecutors of those captured are also starting to add attempted murder charges as the explosions put nearby residents in danger.