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Date Trend snippet:
23 March 2021
Relevance date:
2020
Type of Treath or Oppertunity
Domain of application
Source of threat
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- Trend snippet: Cashless and online payment options are becoming more prevalent during the COVID-19 pandemic
Trends in Security
Trends in Security Information
The HSD Trendmonitor is designed to provide access to relevant content on various subjects in the safety and security domain, to identify relevant developments and to connect knowledge and organisations. The safety and security domain encompasses a vast number of subjects. Four relevant taxonomies (type of threat or opportunity, victim, source of threat and domain of application) have been constructed in order to visualize all of these subjects. The taxonomies and related category descriptions have been carefully composed according to other taxonomies, European and international standards and our own expertise.
In order to identify safety and security related trends, relevant reports and HSD news articles are continuously scanned, analysed and classified by hand according to the four taxonomies. This results in a wide array of observations, which we call ‘Trend Snippets’. Multiple Trend Snippets combined can provide insights into safety and security trends. The size of the circles shows the relative weight of the topic, the filters can be used to further select the most relevant content for you. If you have an addition, question or remark, drop us a line at info@securitydelta.nl.
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Cashless and online payment options are becoming more prevalent during the COVID-19 pandemic
Cashless payment options are becoming increasingly prevalent and online payment options, including cryptocurrencies, are increasingly accessible to all users in the wake of the COVID-19 pandemic. Cash is normally the preferred medium for criminal transactions. However, the importance of cash-intensive businesses are diminishing.
More source info
While the previous economic crisis confirmed cash as the preferred medium for criminal transactions, this may be different in the wake of the pandemic as cashless payment options are becoming increasingly prevalent and online payment options including cryptocurrencies are increasingly accessible to all users. While cash may remain prevalent in some sectors, an overall shift to noncash payment options is expected and this will have an impact on criminal businesses.
Cash has long been the preferred payment medium to launder the proceeds of illegal activity. Criminals may attempt to exploit the situation by acquiring cash-intensive businesses to launder funds. However, as the importance of cash as a payment medium and the availability of cash-intensive businesses diminishes, money launderers may also look to other options to launder money.
