THE FUTURE OF CORRUPTION IN THE ERA OF CASHLESS SOCIETY

Main Article Content

Omar Alaeddin
Rana Altounjy
Naziruddin Abdullah
Zalina Zainudin
Mazhar Hallak Kantakji

Keywords

Corruption, Cashless society, Economic freedom, Fiat Money

Abstract

Purpose of Study: This paper aims to further understand the role of a cashless society in eradicating the corruption throughout the eliminating the usage of cash.


Methodology: The method used for this conceptual paper is based on a wide range of literature reviews from journal articles, thesis proceedings and conferences, books and online news which are related to the keywords and research area.


Results: Battling the corruption by enforcing the cashless society been introduced as sophisticated method to reduce the possibility of taking bribes while everything will be recorded. This way came under light after been applied by the central bank of Nigeria in 2012 to reduce the corruption and has also been used in India to overcome the issue of counterfeit notes in 2016. Meanwhile as the information age considered a historic period in the 21st century, introducing the cashless society comes in compatible with the current trend of digitizing all the monetary system. This paper concluded the main factors can help the cashless to curb the corruption and proposed new topics for future studies.

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