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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 5 months ago by 0x815@feddit.org to c/technology@lemmy.world
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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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[-] boonhet@lemm.ee 2 points 5 months ago* (last edited 5 months ago)

£20 should still get you a meal of some kind until the credit cards and cash machines are back, hopefully within a few hours or next day at the latest.

Can't really say I even have that much on me most of the time though - perhaps I should change that, keep a minimum of like €50 that's only touched in an emergency or something. Swedbank has had several outages in the last few months here in Estonia and it affects many stores' payment terminals too.

this post was submitted on 30 Oct 2024
631 points (98.6% liked)

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