MoneyMagpie

Apr 09

Increased threat of cybercrime has fearful Brits longing for return to cash-only society

Astonishingly, a good number of people still believe the safest place to stash their savings is under the bed

One-in-five Brits want to go back to a cash-only society to protect their money from cybercriminals.

And nearly a fifth of folk still believe the safest place to stash their savings is under the bed, new research reveals.

A nationwide survey found the overwhelming majority of people have “legitimate concerns” about the growing threat of hackers.

Most believe that banks and building societies are failing to thwart attacks and are not doing enough to keep their money safe.

They fear cyberattacks, such as that against Tesco Bank where crooks reportedly siphoned £2.5million from customers’ current accounts in just a few hours, are “inevitable”.

A decent number of people felt safer when we lived in a cash-only society (Photo: Getty Images Europe)

The only way to properly protect funds is to revert to banknotes and coinage only – and to keep it somewhere secret in the house, a poll by MoneyMagpie reveals… Read the full article.

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