Tracking Bait Money
Answer by Dana Turner, BOL Guru Guru Bios
Question: How is "bait money" best tracked?
Answer: Here's a controversial opinion -- it's time that bait money is returned to circulation. In other words -- discontinue using bait money.
Why do institutions continue to use it -- when it only figures in less than 1% of all robber captures, according to the FBI? Because it's traditional. Before electronic tracking devices and dye packs, bait money worked well. But that was then . . .
It's a pain to track and there are better ways to gather the evidence necessary to assist in the identification, apprehension and prosecution of offenders -- exactly what the Bank Protection Act requires. Digital cameras and recorders that are placed appropriately, better training for platform staff, using homing devices that can be tracked by the local law enforcement agencies -- these are examples of improvements that have been available to institutions for several years.
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