Can banks detect VPN?

I've been hearing a lot about using VPNs to bypass geo-restrictions and protect privacy when dealing with cryptocurrency transactions. But I'm curious, can banks actually detect when someone is using a VPN? It seems like it would be a challenge for them to differentiate between legitimate and potentially suspicious activities if they can't see the true IP address of the user. What measures do banks typically take to address this issue, and how effective are they at identifying VPN usage?