Fifty-Year Mystery Of Iceland’s First Bank Robbery Solved

A man involved in what is thought to be Iceland’s first bank robbery walked into a police station and confessed to the crime, police report in a Facebook post. The robbery took place early in 1975 and was relatively small in scale compared to later bank robberies.

In January 1975, Mánudagsblaðið published a short article under the headline “First Bank Robbery in Iceland?” describing how unknown individuals had entered a branch of the Fisheries Bank (Útvegsbankinn) in Kópavogur and stole 20.000-30.000 krónur in loose change. The paper cited unnamed sources but was unable to confirm the story with the bank.

“If this is correct, then the first bank robbery in this country has been committed,” the paper wrote.

The news barely registered at the time, and the case largely faded from memory — as police noted yesterday on their Facebook page.

That changed this summer when one of the thieves came forward and admitted to stealing the money with friends, all of them of confirmation age at the time — around 13 or 14 years old — half a century ago.

“What prompted the man to confess fifty years later is unknown, but it is, of course, always good to ease one’s conscience,” police wrote on Facebook.

The group hid the money in a safe spot and dipped into it when needed. Asked what became of it, the man said they had used it to “have a good time” — mostly by treating themselves to food and drink, as well as paying for popular teenage amusements of the 1970s. The crime is now beyond the statute of limitations, so no charges will be brought.

Although the sum was significant for young boys, it was not a vast amount. Thirty thousand krónur in January 1975 would be worth just over 180,000 krónur today.

The robbery itself required little effort. Renovations were underway at the bank branch, and a hole had been made in an exterior wall. A wooden board covered the opening overnight, but it was not enough to deter intruders.

Police say there was little to go on in the investigation fifty years ago. Some people were questioned, but the theft was never solved.