Plus, it was shown recently that personal credit card fraud via ID theft
is smaller than victimless credit card fraud.
http://www.theregister.co.uk/2005/09/16/gartner_phantom_fraud/
It is a very good rundown on why the banks just really don't have a
reason to chase after them and stop them.
-Todd
-----Original Message-----
From: full-disclosure-bounces@lists.grok.org.uk
[mailto:full-disclosure-bounces@lists.grok.org.uk] On Behalf
Of Frank Knobbe
Sent: Wednesday, September 28, 2005 1:54 PM
To: ken@ftusecurity.com
Cc: full-disclosure@lists.grok.org.uk
Subject: Re: [Full-disclosure] Is the Bottom Line Impacted by
Security Breaches?
On Wed, 2005-09-28 at 10:22 -0400, Kenneth F. Belva wrote:
In the paper I ask: "If 40 million customer credit card numbers are
exposed in a security breach at the credit card processor
CardSystems,
why do a significant number of people not cancel their Visa and/or
Mastercard?"
Simple. The credit card numbers are exposed every time they
make a purchase as well. Now, it someone commits fraud with
your name and card number (which a convenience store clerk
can do himself... no high-profile server breach needed), then
the customer is only liable for minimal damages. The risk and
liability lies with the credit card company.
Perhaps you should ask:
"If 40 million customer social security numbers are exposed
in a security breach at the credit card processor
CardSystems, why do a significant number of people not
request new social security numbers?"
After all, there is no limit on liability with fraud on those....
Regards,
Frank
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