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Dr Muzaffar Syah Mallow : "Cashless society will not make our society crime free."





Dr Muzaffar Syah Mallow : "Cashless society will not make our society crime free."
Any efforts to introduced cashless society in our country will not able to eliminate entirely crime relates to money like money laundering, embezzlement, corruption, and others as criminal will continue to find ways to carry out their criminal activities regardless the method of transaction we adopted.

There is also a fear that our society will be expose to new kinds of criminal activities involving online financial transactions if we rush with the plan to turn our society into cashless society.

Cashless society describes an economic state whereby financial transactions are not conducted with the use of conventional money in the form of physical banknotes or coins, but rather through the transfer of digital information usually through electronic representation of money between the transacting parties.

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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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