Why Blockbuster looks at your ID.

[Adam Shostack]

On Fri, Jul 08, 2005 at 01:16:13PM -0400, Perry E. Metzger wrote:
| 
| Dan Kaminsky <dan at doxpara.com> writes:
| > Credit card fraud has gone *down* since 1992, and is actually falling:
| >
| > 1992:  $2.6B
| > 2003:  $882M
| > 2004:  $788M
| >
| > We're on the order of 4.7 cents on the $100.
| >
| > http://www.businessweek.com/technology/content/jun2005/tc20050621_3238_tc024.htm
| >
| > If it's any consolation, I was rather surprised myself.
| 
| I seem to have gotten that one drastically wrong. Thanks for the
| more accurate figures.
| 
| A back of the envelope calculation makes me think that it is still
| more than enough money to provide a good incentive for a change in
| systems, though, especially when the cost of the anti-fraud measures
| needed at every part of the system are taken in to account.

I think those numbers are misleading.  The FTC reports ID theft as a
$50B problem, but I haven't seen that broken down by vector.  I
suspect most of it is CC (rather than cheque, mortgage/line of
credit/auto loan), but have no data.

Adam

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