However, it is Axis Bank Ltd. that lost the most money to such thefts. Over Rs. 37 crore was stolen from the private sector bank in the three years, with the bank losing on an average Rs. 50.46 lakh in every incident. Seventy four incidents of thefts, robberies, etc. took place at the branches, ATMs, and other premises of the bank between 2014 and 2017. While a better assessment of a bank’s security arrangements can be made only after a comprehensive evaluation keeping in mind the risks involved, the numbers do provide a fair assessment about just how vulnerable the banks are. The American Express Banking Corporation saw the most number of such incidents per office or ATM on an average. The foreign bank, which has only two offices in India, saw two incidents in the past three years, losing a total of Rs. 40,000. The only office of the Bank of America, National Association, saw five incidents between 2014-2017, losing Rs.1.02 lakh.

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