- Sweden's Civil Contingencies Agency has issued guidance to every household
- It tells residents to stockpile 'cash in small denominations' for emergencies
- It fears computer networks could be disrupted by terrorism or cyber-warfare
- The government recommends that each citizen keep cash under their bed
Cashless payments are all the rage but people in Sweden have been told to squirrel away notes and coins in case of a cyber attack on the nation's banks.Digital payments offer convenience for both buyers and sellers alike and the Scandinavian nation has been an eager adopter of the technology.
Now, government experts are concerned that people could be left without any money should its computer networks become victim to an attack.
Sweden's Civil Contingencies Agency has issued guidance to every household telling residents to stockpile 'cash in small denominations' for use in emergencies.The warning will ring alarm bells around the world as developed nations increasingly make the move to a cashless society.Emergencies envisioned by the Swedish government range from power cuts and other accident interruptions to computer networks, through to terrorism and cyber-warfare.The government recommends that each citizen keep cash under their bed, according to a report in the Times....
...MUCH MORE
HT: ZH
So much for 2015's "In Sweden, a Cash-Free Future Nears". although I'll stand by the soundness of the introduction.
Here's 2018's update: "Sweden Tries to Halt Its March to Total Cashlessness".
