Card fraud on-line (Was Re: [LINK] NOIE Update)

[stewart carter]

Linkers,

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? 
Excluding theft?)

Of course if fraud is that low, why are merchant service fees and card 
interest rates so high?