How Denmark ended financial institution robberies

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L:There have been no financial institution robberies final yr Denmark, in accordance with information launched Tuesday by an trade group for lenders. The information comes on the again of a decline in money companies pushed by the rise of on-line and cellular transactions and enhanced safety.

Steen Lund Olsen, spokesman Finansforbundet:The Danish Finance Federation famous the 2022 milestone and described the surprising phenomenon as “merely wonderful”. Olsen says financial institution robberies are “completely extraordinarily taxing on the affected staff each time (they) occur.” He added: “It is one thing you may’t even start to know the emotional influence of except you have skilled it your self.”

The banking affiliation famous that solely 20 of the almost 800 branches of the nationwide financial institution have money deposits, which reveals. constantly fallen over time, from 219 in 1991 to 56 in 2021. As such, the variety of financial institution robberies has decreased with the decline in money circulation, from 221 financial institution robberies in 2000 to 121 in 2004. one case in 2021

Denmark’s central financial institution reported in March that the usage of money will virtually halve between 2017 and 2021, a results of the COVID-19 pandemic, which has boosted cashless operations.

As there’s a world shift to on-line transactions, different international locations are additionally seeing a decline in financial institution robberies; American banks recording 1,724 thefts in 2021, down from 7,556 in 2004.

Learn extra: The 1973 financial institution theft gave the world “Stockholm syndrome”. however there’s extra to the story than that

However whereas Danish financial institution assaults could also be a factor of the previous, robbers have modernized their method. Initially, they centered on ATM fraud, however these crimes peaked at 18 in 2016, because of improved surveillance and safety, earlier than turning to digital fraud.

In 2019, Denmark noticed a rise in on-line scams getting used towards it Senior residents of Denmark 65 to 74 years outdated. Nearly 10% of individuals on this age group misplaced cash after falling sufferer to phishing emails and rip-off web sites. nativeDenmark’s main English-language on-line newspaper.

Citing a survey by Statistics Denmark: native It additionally famous that fifty% of Web customers in Denmark, no matter age, reported having skilled on-line safety points lately. a determine that has possible solely worsened within the years because the outbreak.

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Write Armani Syed at armani.syed@time.com.

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