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Sweden, Norway rethink plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats (www.theguardian.com)

submitted 1 week ago by [email protected] to c/[email protected]

156 comments fedilink hide all child comments

cross-posted from: https://feddit.org/post/4262252

A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast track to a future without cash.

[...]

But Russia’s invasion of Ukraine in 2022 and a subsequent rise in cross-border hybrid warfare and cyber-attacks blamed on pro-Russia groups have prompted a rethink.

[...]

The Swedish government has since completely overhauled its defence and preparedness strategy, joining Nato, starting a new form of national service and reactivating its psychological defence agency to combat disinformation from Russia and other adversaries. Norway has tightened controls on its previously porous border with Russia.

[...]

[Norway's] justice and public security ministry said it “recommends everyone keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”. It said the government took preparedness seriously “given the increasing global instability with war, digital threats, and climate change. As a result, they’ve ensured that the right to pay with cash is strengthened”.

[...]

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[–] [email protected] 78 points 1 week ago (21 children)

As much as I hate using cash, I understand that the credit card companies charge ridiculous fees to businesses and also that people with very low income don't always have access to digital forms of payment. Maybe Sweden does better with equipping their entire society with digital tools, but in the US I don't think we are ready for a fully digital payment society.

[–] [email protected] 58 points 1 week ago (8 children)

I don't like using cashless anything because I know part of the cost is my privacy. Having said that, convenience is a powerful draw and cash can be a pain, especially when you have to find a spot for small coins.

[–] [email protected] 18 points 1 week ago (3 children)

nobody should be including apple or google spy apps in their payment processing

[–] [email protected] 10 points 1 week ago (1 children)

If you are using Mastercard in the US, Google will be getting transaction data all the same: https://www.bbc.com/news/technology-45368040