Cash is trust

We rarely stop to think of it, but banknotes are indeed the most secure payment instrument in the world thanks to the high-tech security features that protect them from counterfeiters.

The Bank of England is seeking to enforce the detection of counterfeit banknotes through the Banknote Checking Scheme. This initiative is designed to strengthen the cooperation between retailers and the central bank to identify counterfeit notes.

Statistics indicate that cash is not only used as a tool of exchange but also as a store of value, especially since the 2008 financial crisis.

An increasing number of festivals shifted to cashless, favouring benefits over participants' freedom of choice and convenience.

Theresa May's government is pushing the search for illegal immigrants one step further requiring banks and financial institutions to check account holder residency irregularities starting January.

Credit card lenders target people already struggling with debts by offering new credit limits, encouraging them to accumulate loans and threatening financial stability.

The People's Bank of China has recently implemented an immediate and complete ban on ICOs and other central banks could follow suit.

Major credit reporting agency, Equifax, has been hit by an enormous data breach exposing sensitive data of thousands of customers.

Yves Mersch, member of the ECB, warns against a hasty adoption of digital payments by banks and reminds us that 80% of transactions in the EU are still made in cash.

New figures released by the Reserve Bank of India are showing that the overnight demonitisation carried out last November in India didn't in fact catch criminals nor the expected money from the black market.

A recently conducted Verizon study found that almost half of the companies that have a presence in Europe fail to comply with the new European General Data Protection Regulation, leaving consumers vulnerable to data breaches.

The Venezuelan crisis results in an unprecedented scarcity of cash, forcing banks to impose absurd cash withdrawal restrictions as ATMs remains empty.