No bank robbery in a year for the first time in cashless Denmark

Because of higher safety and the truth that banks in a largely cashless society don’t maintain giant quantities of money inside the firm, there have been no financial institution robberies in Denmark final yr.

However figures from Danish financial institution affiliation Finance Danmark additionally revealed that on-line banking scams are on the rise as criminals change their technique.

For comparability, there have been 221 financial institution robberies in 2000 and 121 financial institution robberies in 2004, and up to date years have seen single figures, with just one in 2021.

Steen Lund Olsen, vice-president of finance trade union Finansforbundet, stated: “It is nothing in need of wonderful as a result of it places an enormous pressure on workers each time.”

Nevertheless, the numbers reveal that criminals at the moment are altering their strategies and turning to much less dangerous cybercrime.

“Bodily robberies have largely been changed by on-line banking fraud and different types of digital crime, that are far much less dangerous for criminals however sadly repay massive,” Finance Danmark stated in an announcement.

Denmark and its Scandinavian neighbors are main the way in which in the direction of a cashless society. Scandinavian advances are being made with digital currencies, as money utilization in Scandinavia drops under 10% and digital cell cost options offered by Scandinavian fintech actors corresponding to Swish, MobilePay and Vipps have gotten more and more standard with customers.

As bodily purchasing dwindles and lots of companies swap to contactless funds solely to restrict contact between folks, restrictions on folks’s motion to cut back the arrival and unfold of Covid-19 have additionally accelerated digital funds adoption.

In keeping with UK Finance UK payment markets 2022 In keeping with the report, the pandemic has had a transformative affect on the funds market: accelerating the ongoing decline in cash payment use, The usage of debit playing cards additionally declined after years of elevated use.

“The pandemic has not solely led to a discount within the general variety of funds made within the UK, however has additionally led to adjustments within the sorts of funds used,” the report stated in its abstract. “Folks have used extra contactless funds, on-line banking and cell pockets channels, largely on the expense of money.”

As in Denmark, there was a rise in APP scams, also referred to as wire switch scams, within the UK. This sees criminals utilizing faux web sites and emails to trick customers into paying them, whereas scammers strive to take action. avoid the security embedded in the banking system. In keeping with banking commerce physique UK Finance, it is a rising drawback and 70% in the first six months of this yearIt reached a worth of 355 million kilos.