There were zero bank robberies in Denmark last year, but thieves are still keeping busy

When it comes to crime, cash is not king – at least not in Denmark.

For the first time, the country recorded zero bank robberies in 2022, according to Finance Denmark, the industry association representing the country’s banks.

In fact, bank robberies have been on the decline for more than a decade. In 2021, there will be only one.

This is a dramatic change from 20 years ago when Denmark saw about 220 bank robberies a year, said Michael Busk-Jepsen, the Danish Finance director of digitalisation.

“It’s great to see these statistics, especially because the people who work in banks, and they are no longer visible,” said Busk-Jepsen. As it happens hosted by Nil Koksal.

Busk-Jepsen acknowledged the increased security measures and the move to a cashless transition. But despite the welcome changes, he warned that criminals in the digital age are finding new ways to pick people’s pockets.

Traumatized bank tellers, deadly holdups

Busk-Jepsen said that a few decades ago, bank robberies were an almost daily occurrence in Denmark.

The consequences for bank employees, customers and police officers were at best traumatic – and at worst deadly.

That is why the Danish bank employees’ union on Tuesday received the latest news.

“It’s amazing,” spokesman Steen Lund Olsen said in a statement, noting that the robbery “caused extreme tension for the affected employees.”

Busk-Jepsen said the crime is common for two reasons. One, it’s easy. And two, it’s fruit.

“This business case, so to speak, is very good for robbers. It is very easy to get rid of money from the bank,” he said. “It’s not a healthy place to be, so we decided to do something about it.”

The first thing financial institutions do is improve security, he said. Between 2000 and 2010, Busk-Jepsen said that Danish banks focused on improving surveillance measures, alarm systems and relations with the police.

That helps, Busk-Jepsen said. But the thing that really makes a difference is the move away from cash.

Since 2005, he said, card payments have started to replace cash payments in Denmark. The trend is only continuing.

Right now, Busk-Jepsen says many banks don’t have the cash in place.

Danish finance said around 20 bank branches across the country now have cash holdings. The number of bank branches has also decreased from 219 in 1991 to 56 in 2021, he said.

If there is no paper, says Busk-Jepsen, there is no point in caper.

At first, robbers turned their attention from bank branches to automated banking machines, with such attacks reaching 18 in 2016.

However, it has also dropped to zero amid better surveillance and technical protection, the industry association said.

digital crime is on the rise

But just because your money is no longer in the safe, doesn’t mean it secure. As banking becomes a growing online activity, so does crime.

“Confident, [thieves] become digital like everyone else,” said Busk-Jepsen. “Internet banking was introduced, and the number of different types of digital fraud is increasing now.”

That could mean cyberattacks against banks, Busk-Jepsen said. But most often, digital fraudsters tend to go straight to the source and target customers directly.

Anyone can fall victim to online grift, he said, but the elderly are a vulnerable target.

To force the withdrawal, he said banks are investing heavily in public awareness campaigns that teach customers to watch out for scammers.

“In the past, criminals went to physical banks, but now criminals are looking for digital customers,” Busk-Jepsen said.

---

With files from The Associated Press. Interview with Michael Busk-Jepsen produced by Chris Trowbridge.