Welcome to Cashless Economy: Digital frauds are booming

Statistics show that the COVID-19 global pandemic has had a major impact on the criminal economy and led to a dramatic increase in fraud. Dr Nicola Harding, Academic Advisor at We Fight Fraud and Lecturer in Criminology at Lancaster University Law School, explores how the pandemic has changed criminal behaviour and its implications for the banking and finance industries.

In “#CRIME: How COVID-19 forced ‘everyday’ criminal commerce into the digital banking age”, my recent whitepaper with We Fight Fraud (WFF) shows how criminals are moving towards transacting the proceeds of their crimes via bank transfers and trading illegal goods on social media. We used the WFF team’s unique access within the criminal world to help understand the human behaviours, decision making, needs and pressures that have driven fraud and financial crime during the COVID-19 pandemic

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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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Top Ten Things To Know

The debate

How Cryptocurrencies and Cashless Economy are weakening people

Inequalities and danger for Freedom: The bitter taste of Cashless Economy

Despite all the payment solutions, Cash is still a rock

Mass Surveillance loves Cashless Society

Is Liberia becoming a Cashless Society?

Why your Money is at Risk in a Cashless Economy

Bank Run in Russia - Why cash is the best ally in time of crisis

Cashless hurts hard those who live on tips

Are you ready for Cashless Society?

Cahsless troubles: the San Diego example