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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 months ago by 0x815@feddit.org to c/technology@lemmy.world

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”.

[...]

(page 2) 50 comments

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[–] Peffse@lemmy.world 6 points 2 months ago (15 children)

This would suck so bad. My debit card's chip went bad and the bank can't reissue me a new one until it expires. I've been using cash as a fallback when I don't want to do the '3 chip failure timeout then swipe' dance just to purchase some soda.

[–] 0x0@programming.dev 5 points 2 months ago

the bank can’t reissue

You mean they won't. Change banks or threaten to do so, might work.

[–] Pika@sh.itjust.works 5 points 2 months ago (1 children)

I would be changing banks. That's super unreasonable

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[–] uis@lemm.ee 6 points 2 months ago* (last edited 2 months ago) (3 children)

My derped eyes and pronked brain read cashless as moneyless. Comon, Nordic countries, you can do it.

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[–] Blackmist@feddit.uk 5 points 2 months ago (3 children)

Sure, but if a cyber attack knocks out your credit card systems in a targeted attack, chances are they're taking your cash machines down as well.

And who carries enough cash around to be useful any more? I know I don't. I might have a £20 note tucked in my phone case at a push.

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[–] pinkystew@reddthat.com 5 points 2 months ago

I hoped for a second they meant moneyless.

[–] muntedcrocodile@lemm.ee 4 points 2 months ago

Funny way to say people dont like the idea of having all financial privacy ripped away from them.

[–] hark@lemmy.world 2 points 2 months ago

I'm more concerned with the threats from the people in charge of the system, but whatever gets them to the conclusion that it's a bad idea is fine with me.

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