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The effects of a system crash in a cashless world





The new year got off to a bad start for millions of Lloyds, Halifax and Bank of Scotland customers, who were unable to gain access to their accounts through the banks’ websites and mobile apps for almost nine hours because of an outage.

The three brands, which are part of Lloyds Banking Group, apologised repeatedly to customers after the problem started at about 4am on New Year’s Day, a bank holiday when branches are shut.

They put out the same statement on Twitter on Wednesday morning: “We know our customers are having issues with internet and mobile banking. We’re sorry about this and we’re working to have it back to normal soon.”

Read more https://www.theguardian.com/business/2020/jan/01/lloyds-halifax-and-bank-of-scotland-online-banking-systems-crash




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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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