The rise of cashless payment during pandemic beside positive has brought with also negative aspects. I mean the cards related fraudulent activity. in (*) we read:
“While fraud involving cash is lessening yearly, large gains in fraudulent activity involving cards more than makes up for it, according to a new study. The global economy sees (U.S.)$4.1 trillion evaporate annually due to fraud and research suggests it’s only going to get worse as we increasingly go away from using cash.
Fraud in Cash and Electronic Payments: Taxonomy, Estimation and Projections —research completed for the Switzerland-based International Security Ligue — found that fraud with cards has been rising 16.2% annually since 2014. However, fraud involving cash is falling 1.7% yearly. The study also notes that if this keeps up, card fraud per transaction will more than double by 2025.”