The Canadian Bankers Association has increased to $50,000 the reward it is offering for a trio of bandits that police suspect of carrying out eight armed bank robberies.

“These individuals have shown that they are capable of repeated violence, and it is our hope that increasing the reward from $10,000 to $50,000 will lead to their arrest,” William J. Crate, director of Security for Canadian Bankers Association said Monday in a news release.

“The money that has been stolen in these robberies is the least of our concerns. Our top priority is ensuring that bank customers feel comfortable and secure doing their banking and that branch staff can operate in a safe work environment.”

On Feb. 1 the association, in conjunction with the Toronto Police Service, announced a $10,000 reward in response to three bank robberies.

In those cases, three bank employees had been pistol-whipped by the bandits, their wounds requiring stitches.

There have been two more robbery clusters:

  • Feb. 5 - The trio is suspected of hitting two banks, with a teller being pushed violently to the floor
  • Feb. 17 - The trio is suspected of hitting three more banks, one in northwest Toronto and two in Vaughan

There were no allegations of violence being used in the Feb. 17 robberies.

People with information are asked to contact police at 416−808−7350, Crime Stoppers anonymously at 416−222−TIPS (8477), online at They can also text TOR and a message to CRIMES (274637).