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Sweden, Norway rethink plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats (www.theguardian.com)

submitted 2 weeks ago by 0x815@feddit.org to c/technology@lemmy.world

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cross-posted from: https://feddit.org/post/4262252

A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast track to a future without cash.

[...]

But Russia’s invasion of Ukraine in 2022 and a subsequent rise in cross-border hybrid warfare and cyber-attacks blamed on pro-Russia groups have prompted a rethink.

[...]

The Swedish government has since completely overhauled its defence and preparedness strategy, joining Nato, starting a new form of national service and reactivating its psychological defence agency to combat disinformation from Russia and other adversaries. Norway has tightened controls on its previously porous border with Russia.

[...]

[Norway's] justice and public security ministry said it “recommends everyone keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”. It said the government took preparedness seriously “given the increasing global instability with war, digital threats, and climate change. As a result, they’ve ensured that the right to pay with cash is strengthened”.

[...]

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[–] Peffse@lemmy.world 6 points 2 weeks ago (16 children)

This would suck so bad. My debit card's chip went bad and the bank can't reissue me a new one until it expires. I've been using cash as a fallback when I don't want to do the '3 chip failure timeout then swipe' dance just to purchase some soda.

[–] brewery@lemmy.world 9 points 2 weeks ago

They seriously won't issue one even though it's faulty? Surely it's their fault as suppliers of a defective product that is probably still owned by them in some legalise way!

My chip stopped working and after one quick phone call they sent a replacement one. Do all the banks you can access do this or worth changing over?

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