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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 month ago by [email protected] to c/[email protected]

149 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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[–] Imgonnatrythis 10 points 1 month ago (2 children)

Sweden is otherwise cool with having a zero privacy payment system? I'm a little Suprised this made it that far even there. When I see a business that says it does not accept cash, I stay away even if I wasn't planning to use cash anyway.

[–] [email protected] 5 points 1 month ago (1 children)

We have much tougher GDPR laws so I am more worried about American companies stealing my data than any based in the EU. I use different passmails for every account hoping to find a company breaching GDPR but (luckily?) unluckily, no hits so far.

Every company I have worked for, including a major bank, takes GDPR extremely seriously. So much so I often thought they went to far but understand their caution.

[–] Imgonnatrythis 3 points 1 month ago

I think that's great, but that's now. You lose cash and have some bad luck with your politicians like we have had in the states, and those laws can change in an instant and good luck getting cash back once it's gone.

[–] [email protected] 0 points 1 month ago (1 children)

Basic privacy is expected and followed, not everywhere is like the US where you're getting fucked over constantly.

[–] Imgonnatrythis 7 points 1 month ago

Well that's still an illusion than. You can't have systems that are inherently non private and just expect privacy due to culture and norms at any given time. Cash is inherently more robustly private.