Denmark’s Fight Against Bank Robberies Has Succeeded

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Denmark’s Fight Against Bank Robberies Has Succeeded

Once upon a time, in the time period of Bonnie and Clyde, bank robberies were common, also in Denmark. However, in 2022 there wasn’t a single bank robbery in Denmark. Denmark’s fight against bank robberies has succeeded. How?

Data released by the industry association Finance Denmark last month stated that there was not a single bank robbery in Denmark in 2022. The reason? A rise in online banking and declining cash services. So, cash is no longer king – at least not in Denmark.

Bank heists have been declining steadily since 2000, when 221 took place, or one for nearly every day that branches were open.

Denmark’s Fight Against Bank Robberies Has Succeeded
Declining cash services are part of the reason for the success.

Related: Scandinavia among the most cyber-secure countries in the World

“Just amazing,” said Steen Lund Olsen, as spokesman for Finance Denmark. “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’s Fight Against Bank Robberies Has Succeeded
Steen Lund Olsen, a spokesman for Finance Denmark

“It was very nice to see this statistic, especially because of the people working in the banks, and that they’re not being exposed to that anymore,” said Michael Busk-Jepsen, Finance Denmark’s director of digitization.

In his opinion, increased camera surveillance, improved alarm systems and stronger cooperation with the police have helped to bring the number down.

Denmark’s Fight Against Bank Robberies Has Succeeded
Michael Busk-Jepsen, Finance Denmark’s director of digitization

Related: Denmark Opens the World’s ‘Most Humane’ Prison

Denmark’s Fight Against Bank Robberies Has Succeeded, read on…..

According to the association, only 20 of around 800 national bank branches now have cash holdings, a figure that has consistently fallen over the years — from 219 in 1991 to 56 in 2021. As such, the number of bank hold-ups have fallen in tandem with the decline in cash circulation, with 221 bank robberies recorded in 2000, 121 instances in 2004, to just a single incident in 2021. Cash withdrawals have fallen by about 75% over the last six years, according to a Bloomberg report.

Busk-Jepsen says these crimes were common for two reasons. One, it was easy. And two, it was fruitful. He has a warning though: “Despite the welcome change, criminals in the digital era will for certain find new ways to pick people’s pockets.”

Denmark’s Fight Against Bank Robberies Has Succeeded
There was not a single bank robbery in Denmark in 2022. Photo G4S.

Related: Prison Life in Scandinavia

Other nations are also noticing a decline in bank robberies, as a global shift toward online transactions takes place. American banks recorded 1,724 robberies in 2021, falling from 7,556 in 2004.

Denmark’s Fight Against Bank Robberies Has Succeeded, written by Tor Kjolberg

Illustration (on top): © Electronic Frontier Foundation

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Journalist, PR and marketing consultant Tor Kjolberg has several degrees in marketing management. He started out as a marketing manager in Scandinavian companies and his last engagement before going solo was as director in one of Norway’s largest corporations. Tor realized early on that writing engaging stories was more efficient and far cheaper than paying for ads. He wrote hundreds of articles on products and services offered by the companies he worked for. Thus, he was attuned to the fact that storytelling was his passion.