Denmark reports zero bank robberies for first time. Here’s why

Updated on Jan 12, 2023 05:47 PM IST

Denmark banks: A shift towards online transactions, single payment systems and tight security, led to a significant decline in bank robberies, cash stocks and transactions.

Denmark bank robberies: Denmark did not report a single bank robbery in 2022. (Twitter)
Denmark bank robberies: Denmark did not report a single bank robbery in 2022. (Twitter)
ByShobhit Gupta

For the first time, Denmark did not report a single bank robbery in 2022 as it is moving towards a cashless economy. A shift towards online transactions, single payment systems, increased camera surveillance, improved alarm systems and cooperation with the police led to a significant decline in the number of robberies, cash stocks and transactions.

Read here: Man breaches PM Modi's security in Karnataka's Hubballi, pulled away: Watch

According to the central bank data, cash transactions and withdrawals have dropped to around three-quarters over the last six years in the Nordic nation as more Danish people are opting to use cards and phones for payments.

The Danish bank employees' union celebrated the achievement that 2022 had been robbery-free.

Steen Lund Olsen, spokesman for Finansforbundet, Denmark’s Finance Federation, commended the achievement as “just amazing”, Times magazine quoted him as saying.

He said, “Bank robberies put an absolutely extreme strain on the affected employees every time they happened."

“It’s something you can’t even begin to understand the emotional impact of if you haven’t experienced it yourself," he added.

Denmark reported one case of bank robbery in 2022, down from 222 in 2002, as per the figures released by Finance Denmark, the banking sector’s association.

Read here: Royalty no protection: Which kings, queens and princesses got Covid? List here

Fraudsters in recent years have turned over to online mode to defraud people.

Around 20 branches across Denmark have cash stocks. Moreover, the number of bank branches has fallen from 219 in 1991 to 56 in 2021, according to the report by Times magazine.

With more nations shifting toward online transactions, they are also reporting a decline in bank robberies, with US banks recording 1,724 robberies in 2021, falling from 7,556 in 2004, the report added.

Get Latest World Newsalong with Latest Newsfrom Indiaat Hindustan Times.
SHARE THIS ARTICLE ON
SHARE
Story Saved
OPEN APP
×
Saved Articles
Following
My Reads
My Offers
Sign out
New Delhi 0C
Monday, January 30, 2023
Start 15 Days Free Trial Subscribe Now
Register Free and get Exciting Deals