COPENHAGEN, Denmark – Denmark has recorded its first year without bank robberies, as the use of cold hard cash has dwindled in recent years, the country’s finance workers union said.
The increasingly cashless society has led banks to dial down their cash services, the union said in a statement on Monday, leaving little potential loot for robbers.
“It’s nothing short of amazing. Because every time it happens, it’s an extreme strain on the employees involved,” Steen Lund Olsen, vice president of the union, Finansforbundet, said in a statement.
“It’s something you can’t even begin to understand the emotional impact of if you haven’t experienced it yourself,” he added.
The union said there had been 221 bank robberies in 2000, which has slowly decreased to less than 10 a year since 2017.
Denmark’s central bank reported in March last year that the use of cash had nearly halved from 23 percent of payments in 2017 to 12 percent in 2021.
The Covid-19 pandemic accelerated the abandonment of cash, said the bank.
The finance worker’s union noted that while holdups have become scarce, “many bank employees who have been robbed continue to struggle with the consequences.” Some still suffer from symptoms such as “anxiety, sadness, irritability, restlessness and insomnia.”
Denmark- no Bank Robberies?
No chance – no thieves: Denmark has gone an entire year without a single bank robbery thanks to the gradual elimination of cash in bank branches. According to the banking association Finansforbundet, there were 221 armed bank robberies in Denmark in 2000, but there have been fewer than ten since 2017, and none at all in 2022.
For years, cash has steadily declined in importance in the Scandinavian country, and it now plays little role in daily life. The Corona crisis hastened this trend even more. As a result, the country’s banks have few cash reserves in their branches. The central bank reported in March of last year that cash accounted for only 12 percent of payment transactions in 2021, and even in 2017 it was only 23 percent.
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