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How Fraud is destroying the Trust in Cashless Society





Experts in the technology industry have stated that the lack of trust in the use of digital platforms could undermine the benefits of the Central Bank of Nigeria (CBN) cashless policy.

They noted that the increased use of digital platforms transformed cyber and technology landscape, which has its own risk, especially with sustaining trust and confidence in customer’s ability to communicate and transact securely within the financial ecosystem.

The experts spoke at a cyber security awareness campaign organised by Cybersafe foundation and Committee of Chief Information Security Officers of Nigerian Financial Institutions (CCISONFI) tagged: “#NoGoFallMaga.”

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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.










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