Why Blockbuster looks at your ID.

[Dan Kaminsky]

>I'm think you wrong on that one. Financial cost and benefit are easily
>assessed on this, and I think the numbers add up. Credit card fraud
>costs in the hundreds of billions of dollars a year, much of which
>could be eliminated by a change to the sort of system I
>mention. That's not a small amount of money. Indeed, it is more than
>enough incentive for a major change.
>
>  
>
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.

--Dan


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