Denmark stories zero financial institution robberies for first time. Right here’s why | World News

For the primary time, Denmark didn't report a single financial institution theft in 2022 as it's shifting in direction of a cashless financial system. A shift in direction of on-line transactions, single fee methods, elevated digital camera surveillance, improved alarm methods and cooperation with the police led to a big decline within the variety of robberies, money shares and transactions.

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In accordance with the central financial institution information, money transactions and withdrawals have dropped to round three-quarters during the last six years within the Nordic nation as extra Danish individuals are opting to make use of playing cards and telephones for funds.

The Danish financial institution workers' union celebrated the achievement that 2022 had been robbery-free.

Steen Lund Olsen, spokesman for Finansforbundet, Denmark’s Finance Federation, counseled the achievement as “simply wonderful”, Occasions journal quoted him as saying.

He mentioned, “Financial institution robberies put a completely excessive pressure on the affected workers each time they occurred."

“It’s one thing you possibly can’t even start to grasp the emotional affect of when you haven’t skilled it your self," he added.

Denmark reported one case of financial institution theft in 2022, down from 222 in 2002, as per the figures launched by Finance Denmark, the banking sector’s affiliation.

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Fraudsters lately have turned over to on-line mode to defraud folks.

Round 20 branches throughout Denmark have money shares. Furthermore, the variety of financial institution branches has fallen from 219 in 1991 to 56 in 2021, based on the report by Occasions journal.

With extra nations shifting towards on-line transactions, they're additionally reporting a decline in financial institution robberies, with US banks recording 1,724 robberies in 2021, falling from 7,556 in 2004, the report added.