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Going cashless to fight rising financial crime

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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

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.
Message 2 of 4
Established Contributor

Re: Going cashless to fight rising financial crime


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.

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Super Contributor

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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