KUALA LUMPUR: A cashless society will cut down on corruption as all transactions would be recorded, says Prime Minister Tun Dr Mahathir Mohamad (pic).

"Cash can be used to bribe. In a cashless society, we can record the transactions and we will know those who give and those who receive bribes," says Dr Mahathir.

He was speaking at the launching of an unlimited travel pass using MyKad for public rail and bus users, an initiative by the Transport Ministry here today.

Dr Mahathir further stated that while the government finds ways to lower the costs of living, corruption tends to raise prices of products and services and added that this includes bribery.