Risks of Fraud Higher in Cashless Society: Advocacy Group Warns

An expedited transition towards digital currency usage could leave consumers worse off.
Risks of Fraud Higher in Cashless Society: Advocacy Group Warns
A picture shows a visual representation of the digital crypto-currency Bitcoin next to Visa cards, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv on Feb. 6, 2018. Jack Guez/AFP via Getty Images
Nick Spencer
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The spokesperson for advocacy group Cash Welcome, Jason Bryce, has warned Australians about the imminence of a cashless society, saying the erosion of physical currencies will undermine the freedoms of everyday individuals.

“Banks sit at the heart of our economic system and are now herding us into their privately owned cashless transaction systems that are unreliable,” Mr. Bryce told the Epoch Times.