Banks are using ‘underhanded tactics’ to move towards a cashless society
Banks are employing “underhanded tactics” to push towards a cashless society, according to a submission from a financial services union.
The Financial Services Union of Ireland (FSU) has accused the country’s banks of employing “underhanded” “Trojan horse” tactics in the service of cash-free in a document submitted to the Irish government.
While the FSU’s demands focus on the actions of Irish banks, similar concerns have been raised in relation to the push towards a cashless society internationally, with the infamous World Economic Forum, in particular, pushing the transition.
According to a report on the document written by the Irish Independentthe FSU accuses the banks of intentionally understaffing branches, failing to repair ATMs in a timely manner, and failing to answer their own phones in an attempt to push people in line.
The group also says COVID-19 has been used as an excuse by Irish financial institutions to cut services and hours, although many have failed to return to normal now that the country has largely escaped lockdown.
‘It’s all about depriving people of money and driving them online,’ group general secretary John O’Connell reportedly told the publication, with the union leader in particular describing the time of the pandemic as a “Trojan horse used to coerce people into digital platforms”.
“Banks have used Covid and its transition to force people into digital platforms whether they want to or not,” he also said. “Understaffing…is chronic in banks for a reason. This creates long queues. It’s the same with phone lines.
Great Reset: World Economic Forum Pushes Cashless Society Central Bank Digital Currencieshttps://t.co/HXTnXfqFvM
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The group’s submission to the Irish government on the issue of banks pushing people towards digital-only banking services comes shortly after the public rebuffed an attempt by Allied Irish Bank (AIB), one of the country’s major players in the industry, to withdraw all cash. services of 70 of its branches.
Having faced extreme public and political backlash over the issue, the AIB CEO finally admitted that the organization had “got it wrong” and had “moved way too far, way too fast”.
However, the transition to a cashless society has not only become a concern in Ireland, with the trend towards digital-only – something openly pushed by the infamous World Economic Forum – recently attracting serious attention. at the International scale.
For example, the UK government announced that it would implement legislation protecting an individual’s access to physical cash as banks closed branches across the country.
Such a reduction in access, according to a report published in March, would leave millions of people in the country struggling, with access to ATMs in particular being very important in the budgeting process for many people.
“Millions of people across the UK are still dependent on cash, especially those in vulnerable groups, and today we are delivering on our promise to ensure access to cash is protected in communities across the country,” said the country’s economic secretary, John Glen. regarding the move in May.
“I want to make sure people can still use cash in their daily lives, and it’s crucial to make sure no one person or community across the UK is left behind as we embrace a more digital world,” he continued.