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energyman76b
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PostPosted: Thu Jan 10, 2013 6:23 pm    Post subject: USA behind large scale card fraud: Reply with quote

http://www.theregister.co.uk/2013/01/09/european_card_fraud_us/

if the USA would stop living in the stone ages, this would not be a problem.
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Bones McCracker
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PostPosted: Thu Jan 10, 2013 7:26 pm    Post subject: Reply with quote

Sounds more like Europe got screwed by Visa/Mastercard into relying on an unimplemented security standard. I suppose either way it's "our" fault, though.
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pjp
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PostPosted: Fri Jan 11, 2013 2:22 am    Post subject: Reply with quote

We don't nee no stinking trillion dollar coin. :twisted:


Banks don't seem willing to implement a meaningful security solution, so this seems to be one of those occasions where "trust but verify" has demonstrated the necessity of taking action after the verification has failed. And having been involved with PCI/SOX audits, they're a joke (or at least can be).
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sundialsvc4
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PostPosted: Fri Jan 11, 2013 3:13 am    Post subject: Reply with quote

The whole credit-card system was never designed for security (it was mostly put in place in the 1970's with very few real changes) but it's so widespread that banks eat billions of dollars a year in losses that they can't manage to shove-off onto the merchants. That's true worldwide.
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pjp
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PostPosted: Fri Jan 11, 2013 3:33 am    Post subject: Reply with quote

Some put more effort into it than others.
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