Privacy and anonymity

An anonymous donor sent a large cash donation in a cardboard box to the City College of New York. After sitting in a mailroom for months, the cash gift will fund scholarships for a decade.

At ATMIA’s 22nd Annual US Conference in Las Vegas last week, the association recognized the third annual ATMmy International ATM Industry Marketing Awards winners.

A new report by U.S. Public Interest Research Group, finds that complaints submitted to the Consumer Financial Protection Bureau about payment apps surged during the pandemic.

Crypto incumbents defend themselves from regulation and scrutiny, befriending and hiring former (and current) regulators and politicians. However, top U.S. regulators remain skeptical of cryptocurrencies.

Some crypto exchanges are not diligent in safekeeping users’ funds. Hackers employ platforms to obscure the destination of their ransoms. North Korean hackers have targeted exchanges in Hong Kong and South Korea.

The European Central Bank (ECB) concluded its public consultation on the digital euro last week and received over 8,221 responses, submitted by citizens, firms and industry associations. Payment privacy is the most requested feature for the potential digital euro.

A coalition of 51 consumer, privacy, and civil rights groups express support for legislation which would prohibit brick-and-mortar retailers from refusing to accept cash or charging consumers more for paying with cash.

Has Covid-19 speeded up a phenomenon already under way, favouring online retailing and the many alternative means of payment? Not quite as the banknote industry hits back against claims on the decline of cash.

The Covid-19 pandemic has changed the way we pay. Some central banks have accelerated their digital currency programmes. This would provide governments with frightening new powers.

Despite the scale of the Covid-19 pandemic, the payment system has weathered the storm; no systemic outages of core payments infrastructure have been reported. Payments systems - cash and non-cash - have proved resilient and robust and have continued to enjoy trust from the general public.

Speaking at Slush, a Finnish student-driven technology event, Alex Gladstein Chief Strategy Officer at the Human Rights Foundation makes a strong case for financial privacy. The lack of options in terms of transaction methods opens the door to exploitation by authoritarian regimes and surveillance capitalism.

1 in 4 women experiences domestic abuse in their lifetime. In the UK, one woman reveals how she wouldn’t have escaped her abusive partner without having access to cash.