Card fraud on-line (Was Re: [LINK] NOIE Update)
Mon, 30 Oct 2000 17:10:10 +1100
Another very unattractive aspect of NOIE's latest effort on credit-card
based Net shopping is that it starts with the intellectually lazy assertion
that public concern about on-line fraud is all the media's fault. 'The
whole story' is much less alarming than newspapers, in particular, usually
portray the situation, according to NOIE.
So the responsible thing to do is clearly to give official government
standing to unsubstantiated claims by US credit-card execs that on-line
fraud is 0.0089%. (Globally? Locally? For all types of card fraud on-line?
Of course if fraud is that low, why are merchant service fees and card
interest rates so high?