a fraud is a sale, Re: The bank fraud blame game

Anne & Lynn Wheeler lynn at garlic.com
Tue Jul 3 12:48:48 EDT 2007


Ed Gerck wrote:
> Yes. Today, under current practice, there's actually a strong
> incentive to keep existing fraud levels than to try to "scrub
> it out" -- fraud has become a sale:

thread from earlier this year ... when over a period of a month or
so there were several releases that essentially had fraud declining
by 10-15 percent simultaneously with fraud increasing by 200-300 percent.
http://www.garlic.com/~lynn/2007e.html#26 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007e.html#29 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007e.html#58 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007e.html#61 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007e.html#62 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007i.html#5 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007i.html#17 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007i.html#19 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007i.html#59 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007m.html#65 nouns and adjectives

this followed an article pointing out that EU financial institutions
had something less than 10percent of their bottom line coming from
payment transaction operation ... while it was closer to 40percent
for US financial institutions.
http://www.garlic.com/~lynn/2007k.html#12 IBM Unionization
http://www.garlic.com/~lynn/2007k.html#13 IBM Unionization
http://www.garlic.com/~lynn/2007l.html#35 My Dream PC -- Chip-Based

and articles about interchange fee represents the single large expense for some retail
merchants
http://www.garlic.com/~lynn/aadsm23.htm#37 3 of the big 4 - all doing payment systems
http://www.garlic.com/~lynn/2006e.html#26 Debit Cards HACKED now
http://www.garlic.com/~lynn/2006k.html#23 Value of an old IBM PS/2 CL57 SX Laptop
http://www.garlic.com/~lynn/2007.html#27 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007c.html#38 Securing financial transactions a high priority for 2007
http://www.garlic.com/~lynn/2007i.html#47 John W. Backus, 82, Fortran developer, dies
http://www.garlic.com/~lynn/2007i.html#72 Free Checking

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