EMV [was: Re: Why Blockbuster looks at your ID.]

[astiglic at okiok.com]

>
> 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.


Interesting statistics.
Seems like it's the same thing in Canada
http://www.rcmp.ca/scams/ccandpc_e.htm
Reported $227M in credit card fraud in 1999, droped at $200M in 2003.

But these are still considerable numbers, and the thinking that Banks
manage the risk and it's not worth them going over to smart card
technology so they won't, which was mentioned in a few replies, I think no
longer holds (probably because of the falling cost of the technology, so
even if fraud $ is down as mentioned, ratio of fraud cost / cost of
technology that is more secure still leads financial institutions to want
to go to a more secure technology).
Europe already has EMV, and Canada plans to have an infrastructure (card
readers) that support it by 2007.  Probably U.S. will follow
http://www.atmmarketplace.com/news_story_23380.htm
http://www.atmmarketplace.com/news_story_22849.htm
http://www.kioskmarketplace.com/news_printable.htm?id=23380

And here, for example, is a quote from Visa Canada
http://www.visa.ca/en/about/mc_article.cfm?pid=2
"Visa Canada Member financial institutions will implement chip at their
own pace.  It is expected that within seven years, almost every Visa card
in Canada will feature chip technology and most merchants will have the
equipment to accept and fully benefit from these cards."
That was written in June 2003.


--Anton




---------------------------------------------------------------------
The Cryptography Mailing List
Unsubscribe by sending "unsubscribe cryptography" to majordomo at metzdowd.com