UKNM: Re: Credit Card Fraud

[Steven Carlson]

Rod Begbie wrote:


  > The person who manages to packet sniff and intercept a

  > credit card number will not become rich.  The person who

  > gets through a badly set-up firewall and gets a *database*

  > of credit card numbers will become rich.


  > If I were after credit card numbers, I wouldn't waste my

  > time on the inertnet -- i'd be bin-raking at the mall.


Steve Johnston replied:


  > No, no, no. The person who can get away with _using_ them

  > becomes rich. Getting hold of bucket loads of valid credit

  > card numbers is easy as anything. Getting away with using

  > them is the fraudster's art.


Is Internet credit card fraud really an issue in 1999? As Rod

points out, you'd have easier pickings at the local mall.

Alternatively, you could mug people on the way back from the cash

machine.


In any case, credit card companies make a business of taking

calculated risks. Card companies keep statistics about fradulent

transactions and factor this in as a cost of doing business.

Consequently you now see credit cards advertised on Yahoo! that

guarantee transactions conducted over the net.


Isn't the real issue the merchant rather than card?


Steve

____________

Steven Carlson

Online Europe moderator

<http://NowEurope.Com>


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