Mon, 06 February 2023
The Daily Ittefaq

As cash fades, Denmark marks first year with no bank heists

Update : 04 Jan 2023, 10:18

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."

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