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Posts: 29,981
Registered: ‎12-13-2013

Going cashless to fight rising financial crime

Bribery, tax evasion, money laundering, counterfeiting, corruption, even the finance of terrorism. These are among a long list of crimes enabled by the use of "cash." The attempt to crack down on these crimes is driving governments and a range of companies to pursue the potential of a cashless society.

 

http://www.cnbc.com/2017/04/20/going-cashless-to-battle-financial-crimes-.html

 

In America cash is king I dont see this going over very well here/

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Valued Contributor
Posts: 2,077
Registered: ‎02-14-2016

Re: Going cashless to fight rising financial crime

Interesting to me because i haven't carried cash in America for years. It takes up too much space, is too easy to lose, and i have no record of where it went.

Credit cards are a much better fit for me.
New Contributor
Posts: 437
Registered: ‎02-07-2017

Re: Going cashless to fight rising financial crime

[ Edited ]

gdale6 wrote:

Bribery, tax evasion, money laundering, counterfeiting, corruption, even the finance of terrorism. These are among a long list of crimes enabled by the use of "cash." The attempt to crack down on these crimes is driving governments and a range of companies to pursue the potential of a cashless society.

 

http://www.cnbc.com/2017/04/20/going-cashless-to-battle-financial-crimes-.html

 

In America cash is king I dont see this going over very well here/


+1. In a society where people will still rise up in arms at the mere suggestion of abolishing the 1-cent coin, let alone the 1-dollar bill, and where every single attempt to introduce a new coin in recent years has flopped to one degree or another (when was the last time you saw a Susan B. Anthony or Sacajawea dollar coin?) I see no good prospect of the government and business being able to achieve their cashless vision either, particularly as someone who put down cold hard green cash for his new iPhone, his new desktop PC, and the down payment on his car. Americans tend to be astoundingly resistant to change in this area.

 

P.S. I have a 1995-series two-dollar bill that I got as change at a local restaurant back about 5 or 6 years ago; I keep it in the driver's-license pocket of my wallet as I don't know when I'm liable, if ever, to see another one.

Rebuilding credit since 2015 (BK filed 8/14, discharged 12/14) - started out in 570's, now approaching 700 (FICO 4/17:TU 627/EX 662/EQ 659 FICO 8 or 690 NG 2, VS 3.0 4/21/17: TU 684/EX 685/EQ 691)! $951 Cap One secured/$3000 Cap One unsecured/$800 Amazon Prime Store Card/$2500 Discover It (NEW 03-21-17)/$10k PenFed used car loan/$5k Navient student loan. In the garden until Sept. 2017 unless I get an offer I can't possibly refuse...
Super Contributor
Posts: 8,606
Registered: ‎10-03-2008

Re: Going cashless to fight rising financial crime


joe8185 wrote:

+1. In a society where people will still rise up in arms at the mere suggestion of abolishing the 1-cent coin, let alone the 1-dollar bill, and where every single attempt to introduce a new coin in recent years has flopped to one degree or another (when was the last time you saw a Susan B. Anthony or Sacajawea dollar coin?) I see no good prospect of the government and business being able to achieve their cashless vision either, particularly as someone who put down cold hard green cash for his new iPhone, his new desktop PC, and the down payment on his car. Americans tend to be astoundingly resistant to change in this area.

 

P.S. I have a 1995-series two-dollar bill that I got as change at a local restaurant back about 5 or 6 years ago; I keep it in the driver's-license pocket of my wallet as I don't know when I'm liable, if ever, to see another one.


Sure wish they would bring back large bills like the $1,000 bill. Always works where you are going to pay for a meal and that is all you have ... of course no one can break it so someone else covers the cost Smiley Happy

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