Efforts to introduce a cashless society here won’t eliminate crimes, such as money laundering, embezzlement and corruption. Criminals will continue to find ways to carry out their activities, regardless of the method of transaction. There is also the fear that society will be exposed to new kinds of criminal activities involving online financial transactions if we rush into this plan to turn our society into a cashless one.
With the advent of technology such as the smartphone, our daily activities have changed tremendously. We rely on our smartphones to perform our jobs, including conducting financial transactions.
Although this new technology and the efforts to make our society a cashless one may be seen positively by many, it will pose another risk to the people.
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With the advent of technology such as the smartphone, our daily activities have changed tremendously. We rely on our smartphones to perform our jobs, including conducting financial transactions.
Although this new technology and the efforts to make our society a cashless one may be seen positively by many, it will pose another risk to the people.
Read more
Will Africa turn cashless?
