NK’s department stores in Stockholm and Gothenburg stop accepting payments in cash.
This is because of gang criminals who deal in black money.
– This could be the start of something in the industry, says Mikael Valier Furtenbach, press communicator at Swedish Trade to TV4 Nyheterna.
During Thursday, NK Stockholm and Gothenburg decided to stop accepting payments in cash, reports Sweden’s Radio Echo. This applies to the department stores in Stockholm and Gothenburg. The reason is to stop gang criminals from using black money in the department stores, says CEO Bo Wikare to the radio.
– From our point of view, it is unfortunate that gang criminals make it so that ordinary people cannot trade with cash. The risk is that it will become more common, says Mikael Valier Furtenbach, press communicator at Svensk Handel to TV4 Nyheterna.
He also believes that not many people pay with cash today – but that it can affect people who want to do so.
– The honest lady is affected who wants to pay with cash. However, only a fraction of purchases today are made with cash, he says.
Could be the starting point
According to the Money Laundering Act, stores must request more information about the shopper when making purchases in one place for more than 5,000 euros (60,000 kroner).
Is it going on in more places than just NK?
– It is not an issue that is currently bubbling within the industry. But this could be the start of something in the industry.
NK declines an interview, but Ulrica Lind, press contact at NK, clarifies in an email to TV4 Nyheterna how they manage their cash management:
“NK obviously does not want to be a place where criminals can use the proceeds of crime and we work actively to reduce the risks of that happening. We already have a routine where department staff for cash purchases over SEK 10,000 require the customers to fill in a form stating where the money came from. According to Swedish law, this must be done from 5,000 Euros (roughly 60,000 kroner), but NK has set its own significantly lower limit.
We will make NK cashless in the near future. There may be exceptions, where possibly food operators at NK will continue to accept cash. We are following the government’s payment investigation, which may affect which retail operators must continue to accept cash.”