Rubber hose attack

[JohnE37179 at aol.com]

In a message dated 11/2/01 2:03:05 PM, rick_smith at securecomputing.com writes:

<< Of course. But this hasn't prevented people from acquiring and using 
credit 
cards. More to the point, it hasn't prevented the merchants, banks, and 
credit card issuers from maintaining and promoting this imperfect system. 
This would suggest that the losses from fraud (which customers don't pay, 
at least not here in the US) are amply covered by the income they bring in.

This sounds to me like a system that "works" in a practical sense. >>

In good times when a 5% loss factor disappeared in the profits it didn't 
matter. In times when every penny is being squeezed (Airlines), and fraud 
seems to have doubled the risk management view may have changed.



John Ellingson
CEO
Edentification, Inc.
608.833.6261
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