USA behind large scale card fraud:

energyman76b · Advocate Joined: 26 Mar 2003 Posts: 2045 Location: Germany

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 · Veteran Joined: 14 Mar 2006 Posts: 1605 Location: U.S.A.

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.

pjp · Administrator Joined: 16 Apr 2002 Posts: 17118

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 · Guru Joined: 10 Nov 2005 Posts: 436

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.

pjp · Administrator Joined: 16 Apr 2002 Posts: 17118

Some put more effort into it than others.
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For my next trick, I'll need a volunteer.