[7870] in cryptography@c2.net mail archive
Re: Treasury Department worries about ecash, anonymity
daemon@ATHENA.MIT.EDU (John Kelsey)
Sun Sep 24 13:23:12 2000
Message-Id: <4.1.20000923231149.009afc60@pop.ix.netcom.com>
Date: Sat, 23 Sep 2000 23:13:34 -0400
To: Declan McCullagh <declan@well.com>, cryptography@c2.net
From: John Kelsey <kelsey.j@ix.netcom.com>
In-Reply-To: <4.3.0.20000922210653.01581020@mail.well.com>
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At 09:07 PM 9/22/00 -0400, Declan McCullagh wrote:
> Feds: Digital Cash Can Thwart Us
> by Declan McCullagh (declan@wired.com)
...
> It says: "The development of new technologies -- such as electronic
> cash, electronic purses, Internet or smartcard based electronic
> payment systems, and Internet banking -- is increasing the ability of
> individuals to rapidly transfer large sums of money, and could pose a
> challenge for FinCEN and other law enforcement agencies combating
> money laundering."
I suspect an even more interesting and scary possibility is that at some
point, electronic payment systems may be so widespread that a security flaw
in the system can have the same kind of impact as (say) the failure of a
major bank.
--John
