Former Interpol President Björn Eriksson warned that Sweden’s move away from cash could pose risks to national security. He noted that digital payments might be vulnerable if the country faced a large-scale cyber attack, and he suggested that eliminating physical money could create openings for new forms of criminal activity. Eriksson emphasized that the shift toward a cashless society does not come without trade-offs, pointing to potential gaps that could be exploited by organized crime during a cyber crisis. [Citation: Interpol statement / Eriksson commentary]
He also warned that as more transactions move online, the security of digital payment systems becomes paramount. If financial infrastructure were disrupted, everyday payments could grind to a halt, impacting citizens and businesses alike. The expert argued that a cashless framework requires robust resilience planning, rapid incident response, and diversified payment rails to prevent single points of failure. This perspective reflects broader concerns about digital economy dependencies and national resilience. [Citation: security analysis / Eriksson]
During the discussion, Eriksson referenced geopolitical risk, noting that President Vladimir Putin can engineer a shutdown of services with little cost to himself, a point underscoring why cyber and supply chain defenses matter to national security. The remark highlighted the potential for external actors to target critical systems, reinforcing the need for layered protections and international cooperation to safeguard public infrastructure. [Citation: expert interview]
Separately, Bloomberg reported insights from Bank of England Deputy Governor John Cunliffe, who described a gradual withdrawal of cash from the British economy. The shift reflects growing consumer preference for electronic and card-based payments as the use of cash declines in everyday life. Cunliffe’s assessment aligns with a wider trend toward digital wallets, contactless payments, and online banking, raising questions about accessibility and financial inclusion during the transition. [Citation: Bloomberg / Cunliffe]
In the same vein, it is noted that credit and debit cards are becoming more popular in the United Kingdom, signaling a broader move away from physical money. This transition has implications for merchants, consumers, and policymakers as the payments landscape evolves. The conversation about cash versus digital methods continues to influence debates on economic policy and payment infrastructure resilience. [Citation: financial analysis / UK trend]
Earlier discussions in Sweden also touched on controversial social debates tied to public discourse, including issues surrounding acts of religious provocation. Such topics illustrate the complex environment surrounding cultural and political tensions in a rapidly changing society, where policy choices about money, security, and civil liberties intersect with everyday life. [Citation: regional coverage / Sweden]