Can you track stolen money?

Countless banks use bait money that is wired with a thin GPS transmitter allowing authorities to track the cash in real time, and hopefully retrieve it along with the thieves. GPS trackers have allowed the federal agencies and local authorities to increase an already notable solve rate for bank and cash thefts.

gpstrackit.com - Bank Slips Tracker into Stolen Cash - GPS Trackit

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Chicago Bank Slips GPS Tracker into Stolen Cash Bag

GPS TRACKING OF STOLEN ASSETS

Have you ever looked at your monthly bank statement and wondered where all the money went? Maybe you could try the successful strategy used by the Chicago Police Department and a local bank. A GPS tracking device was placed inside a bag of stolen cash leading to the quick apprehension of the suspect. When a northwest suburban bank was robbed, police were able to follow the escape vehicle from 12,550 feet, and the stolen money.

Can You Put Trackers in Money?

Yes, there are money GPS tracking devices that may be completely hidden between just two bills of currency. The hidden device can be implanted into a larger stack of bills in a cash drawer or safe.

How Do Banks Put Trackers in Money?

Main Purposes for GPS Tracking Devices

When it comes to money GPS tracking devices, the main reason these are used is to track and recover stolen money in the event of a robbery. The devices are concealed, making it easy to track the location of stolen assets, alert the authorities and retrieve them before it is too late. Still, there are other ways to use GPS tracking devices. The devices can monitor transfers of assets from bank to bank for example. When armored trucks leave the bank with cash, GPS tracking devices help ensure the money reaches its destination in a timely manner. A money GPS tracking device ensures the vehicle can be tracked quickly in case the truck deviates from its route or takes longer than anticipated. Moreover, the devices can help prevent internal theft by tracking the movement of assets between safes, or from safes to cash drawers and so on inside a building. Securing a financial institution from robbery is not only about planning. GPS cash trackers ensure assets are carefully tracked after they leave the building.

How Money GPS Tracking devices Work

GPS money tracking devices can be concealed in money bundles or bags, armored vehicles, or even cash machines or ATMs. The devices can easily fit inside envelopes and transportation containers due to their small size. Money tracking devices include bite-size wireless modems that connect to software at a chosen location. Ideally, the devices will already be put in place whether is cash bags, bundles and others as already explained, before a theft takes place. Should a robbery happens, the bank staff alert authorities that are immediately able to track the thieves’ location. The devices can use geofencing to ensure the driver stays within a preset boundary for armored vehicles. Staff can even use the devices to remotely lock doors, sound alarms, and even monitor gas levels.

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Which payment app is safe?

PayPal is our pick for best overall payment app. It offers a user-friendly interface, strong security, and there are no fees for sending money to family and friends.

thebalancemoney.com - The 6 Best Payment Apps of 2022 - The Balance

Why We Chose It

PayPal is our pick for best overall payment app. It offers a user-friendly interface, strong security, and there are no fees for sending money to family and friends.

Pros & Cons

Overview

PayPal is the granddaddy of payment companies, with a history going back to 1998. It made its name as the preferred digital wallet and payment provider for eBay transactions but has since grown to be one of the most dominant names in online payments. PayPal offers the ability to transfer money to and from any U.S.-based bank account and many foreign accounts. There is no fee to transfer funds to family or friends from a PayPal balance or bank account balance, but PayPal does charge fees to send from a credit card or convert currencies.

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