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For ten years in Cyprus, there were 78 bank robberies

For ten years in Cyprus, there were 78 bank robberies

Tags: Cyprus, Banks, Incidents, Police, Robberies

From 2008 to 2017 year in Cyprus, 78 bank robberies were committed ("champion" - Cooperative Bank, 45 times). Criminals got a half million euros. In 2017, seven raids were committed, the bandits carried 173 269 euros. Each time their goal was Co-op Bank, whose controlling stake belongs to the state. In 2015 and 2016 years there were no bank robberies in Cyprus. According to CyprusBusinessMail sources, the Cooperative Bank is trying to improve its security system, but does not give official comments on this topic.

All raids on Cypriot banks for 10 years

From 2008 to 2017, the year was committed 78 bank robberies. The amount of damage was 1,5 million euros. Co-operative bank robbed 45 times, Bank of Cyprus - 13 times, Hellenic Bank - eight, now not existing Laiki Bank - six, and USB Bank and National Bank of Greece - twice. Emporiki Bank, which later absorbed Alpha Bank, - once.

What spooked the 2014-2015 YEARS?

In 2013, two bank robberies were committed, the amount of damage was 15 150 euro. In 2014, the criminals took six raids (total - 79 960 euro). Following this, the Cyprus Association of Commercial Banks and the Banking Sector Workers' Union (ETYK) have developed a program of security measures jointly with the police, including:

  • Installation of doors that can be blocked in case of attempted robbery.
  • Equipping the banking departments with high-resolution video cameras that help identify criminals
  • Reducing the amount of cash that is stored in each unit.
  • Introduction of a time delay system when opening safes.

These measures scared potential criminals and prevented raids on banks in 2014-2015. In addition, the police managed to uncover one of the two robberies that were committed in 2013, and five of six - in 2014.

More often than not, the co-operative bank

Of the 14 robberies of the last six years in 13 cases, Co-op Bank branches suffered. Recall that in 2013 the government decided to save the bank from bankruptcy by investing in it 1,7 billion euros received from the "three" international creditors. This amount plus interest to Cypriot taxpayers is yet to be returned to the International Monetary Fund, the European Commission and the European Central Bank.

According to CyprusBusinessMail sources, the management of the Cooperative Bank decided to increase the cost of security for its branches. For employees, seminars are held, during which experts talk about ways to prevent robberies and how to behave better when armed gangsters broke into the bank.


In 2006, the police of the Republic of Cyprus issued official recommendations on behavior in the case of robbery in a bank, on the street or in a jewelry store. First of all, the police advised, it is necessary to remain calm and not to expose your life and the lives of nearby people to danger.

It is better not to show heroism, neutralizing the criminal, but to remember the features of his face, what he was wearing and how he left the crime scene (on foot, on a moped, car). It's also good to establish special signs of a criminal: tattoos, scars, accent, etc. Immediately after the robbery, you should call 112, 199 or 1460, and inform the police clearly and emotionlessly about what happened.

The Big Three of Cyprus Banks

According to the StockWatch survey, of the 1803 Cypriot families who participated in the study, 37% called Co-op Bank the main bank for its financial operations. Only Bank of Cyprus, which prefer 40% of respondents. The top three banks of the Republic of Cyprus are closed by Hellenic Bank (10%).

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