Monday, March 19, 2012

Sweden on Road to Cashless Society

Bjoern Ulvaeus, former ABBA singer, asks "If there were no cash, what would they [criminals] do?" Bank robberies are down from 110 in '08 to 16 in '11, the lowest level in 30 yrs. Problem solved!

Oh, wait - electronic fraud and card skimming is way up from 3,304 in 2000 to nearly 20,000 in 2011. Ahhh, well, the unintended consequences on the road to Hell paved with good intentions.

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