The Coming Cashless Society is Gonna be a Boom for Bank Fraud 4/27/17 - A Whittle Bit of Commentary

A Whittle Bit of Commentary with Chad Whittle

Below is a rush transcript (may contain errors):

A new study out from Ipsos reports that a third of Europeans and Americans are totally cool with us having a cashless society and really if they’re Millennials they’re already probably living in a cashless society ‘cause we are broke! The study reported that 20% of people already hardly use cash now. Places where cash is used the most are the places that people are willing to ditch it the most. We already have credit cards and now we can pay with a phone app, but I’m not sure I wanna go cashless. Can you imagine the hacking, bank fraud that’s gonna take place when all they need to do to wipe your account out is hack an app or website? Call me old fashion at 31, but I’d still rather have some cash on hand, especially after an account I had a few years got hacked! I’m Chad Whittle on A Whittle Bit of Commentary.

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© 2017 Chad Whittle

Background Material:

http://www.reuters.com/article/us-global-economy-cash-idUSKBN17S001

 

 

Posted on April 26, 2017 .