Curbing economic crime with RFID enabled currency

Information and Communication Technologies (ICTs) enable us to conduct business efficiently and effectively on a global scale. At the same time ICTs provide criminals with new capabilities with which to circumvent law enforcement efforts. Consequently, law enforcement agencies need new tools and new capabilities. RFID enabled money (r-money) is one such tool. R-money would make money visible to information systems. In this paper the potential benefits of r-money are presented and some of the societal, technical and governmental issues associated with r-money are discussed. Copyright © 2010 Inderscience Enterprises Ltd.