Hunt down Phil Smith's SHARE presentation if you want to understand the reality of financial institutions and credit card fraud.
The direct financial impact of fraud is but a footnote. It is trivial compared to, say, personal bankruptcy losses. The real threat (to financial institutions) from fraud is that masses of consumers will say "that does it -- I am never using a credit card again." THAT is a very scary threat. (With apologies to Phil ...) Charles -----Original Message----- From: IBM Mainframe Discussion List [mailto:IBM-MAIN@LISTSERV.UA.EDU] On Behalf Of Paul Gilmartin Sent: Saturday, November 21, 2015 8:04 AM To: IBM-MAIN@LISTSERV.UA.EDU Subject: Re: Were you at SHARE in Seattle? Watch your credit card statements! On 11/21/2015 08:49 AM, Bob Shannon wrote: >> Maybe someone should raise a requirement that the SHARE Hotels credit card >> system should be secure. > Seriously Ed? Do you really think a major hotel chain is going to tell > potential customers their credit card system is insecure? > Credit card companies are on the verge of providing an incentive by making vendors liable for fraudulent charges on insecure credit cards. ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
