Boom
No American ATM has ever been robbed with explosive gas. The same was true in Britain — until 2013. Now there have been more than 90. Inside the birth of a bomb spree.
Along the western coast of England, under a half-moon hidden by clouds, a dark Audi sports car with fabricated plates followed an empty road toward a Barclays bank. Inside were five men, dressed all in black, and their gear: crowbars, power tools, coils of flexible tubing, and two large tanks of explosive gas. It was 1:51 a.m. The job would take just under seven minutes.This particular Barclays was just waiting to be robbed. Located at the rear of a shopping mall in a town called Birchwood, it was secluded from the street by 300 feet of parking lot and faced a creek, a railway, and acres of cropland. Early on this Friday in September 2013, the area was deserted, and the walk-up ATM glowing Barclays blue onto the brick forecourt was likely filled with cash for the weekend crowds. For six months, the gang had been targeting cash machines across a 150-mile swath of the country, from Oxford to Liverpool, with a technique never before used in the U.K.
Two men exited the Audi, balaclavas covering their faces, and with professional calm attacked the face of the machine. One pried open the cash slot with a 3-foot gorilla bar, then worked it like a lever, hopping up and down with a two-handed grip. A third man knelt to assist, a fourth stood watch, and the fifth remained behind the wheel of the car, idling at a short distance behind a perimeter of security bollards. After several minutes one of the team walked up trailing a wire and two lengths of hose, which he fed a short distance into the ATM, as a doctor might intubate a patient’s mouth. The hoses carried oxygen and acetylene, and the men took cover as the gases began to mix in the pit of the machine.
The strongbox inside an ATM has two essential holes: a small slot in front that spits out bills to customers and a big door in back through which employees load reams of cash in large cassettes. Criminals have learned to see this simple enclosure as a physics problem. Gas is pumped in, and when it’s detonated, the weakest part—the large hinged door—is forced open. After an ATM blast, thieves force their way into the bank itself, where the now gaping rear of the cash machine is either exposed in the lobby or inside a trivially secured room. Set off with skill, the shock wave leaves the money neatly stacked, sometimes with a whiff of the distinctive acetylene odor of garlic.
In Birchwood, the oxyacetylene bomb exploded immaculately at 1:57 a.m.—a single concussive thunderclap that sent a minimum of dust and debris raining onto the sidewalk. Only now did the men hustle. Smashing a low window to the left of the ruined ATM, they crawled inside with more tools, shoved the cash into a black duffel, and exited on their hands and knees. One gently helped another to his feet, and the Audi made a neat three-point turn to begin their getaway. Details of the heist, and other events in this story, come from security camera footage, police files, court records, and interviews with investigators, prosecutors, bank representatives, security experts, and defense lawyers.
The ATM bombers were getting better, bolder, and bigger. The Birchwood heist was their 28th in the U.K.—and No. 27 had gone down just minutes earlier in Wirral, 40 miles west, carried out by a second team of five. The combined take of almost £250,000, or about $375,000, was the group’s biggest score in a single night yet. Their MO, using cheap, common, and legal gas, was nearly impossible to trace, and they left precious little forensic evidence for the police. To stop the rampage, there was little Britain’s banks could do....MUCH MORE
Methodology: We scan our universe of more than 42,000 securities on
loan to find those securities with the most expensive financing
positions in the U.S., U.K., Europe and Asia. Financing costs are
determined by taking the total on-loan value of a security and
multiplying it by the volume-weighted average fees to borrow that
security, then converting the product of those numbers to a dollar
value. We then sort the most expensive securities to finance in the
securities lending market in descending order.
