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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 2 weeks 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] 19 points 2 weeks ago* (last edited 2 weeks ago) (12 children)

Noone uses cash in Sweden, except for maybe drug dealers and super old people(and the occasional tourist). Most businesses dont even accept cash anymore.

It isnt just the convenience of not having to carry cash, it is also much safer. Much lower risk of getting robbed, for both individuals and businesses.

[–] [email protected] 7 points 2 weeks ago (2 children)

Much lower risk of getting robbed

Maybe that works in Sweden, but in other places you get shot if you're not carrying money with you 😅

[–] [email protected] 9 points 2 weeks ago (1 children)

I think those places need more support systems to reduce the number of people that becomes desperate enough to do that.

[–] [email protected] 2 points 2 weeks ago

We have plenty of support systems, but we have too much corruption. I think we're working on that now with our first female prez.

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