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A cashless economy would put India at risk





A recent cyber-attack on a nuclear power plant has sparked a debate on the country's ability to protect itself in a cyber-war. But experts say Indians should be more worried about the vulnerability of its financial systems. The BBC's Ayeshea Perera finds out more.

News that India's biggest nuclear plant - the Kudankulam facility in the southern state of Tamil Nadu - had been subject to a cyber-attack made headlines across the country last month.

It sparked conversations about whether the country was "cyber-ready" and many questioned whether it would be able defend critical infrastructure from malicious digital attacks.

But there is a much bigger issue that affects millions of Indians - debit card hacks and other forms of financial fraud.

Just last month, India's central bank asked banks to investigate a warning  by the Singapore-based cyber-security firm Group-IB that the details of 1.2m debit cards were available online.

And last year hackers were able to siphon off 900m rupees ($12m; £9.7m) from Cosmos bank in the western city of Pune through a malware attack on one of its data suppliers.


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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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