Dear Linkedin,
Barry Shein
bzs at world.std.com
Mon Jun 11 02:11:04 UTC 2012
> > Eliminating fraud isn't an objective of card issuers. Making money is.
> > Fraud reduction is only done when the savings from the reduced fraud
> > exceeds both the cost of the fraud preventing measure and any revenue
> > that is lost because of inconveniencing customers.
>
> Right, but eliminating fraud should be an objective of consumers because
> ultimately, we are the ones paying for it regardless of who "eats it" on the
> actual transaction.
This applies just as well to fraud-prevention measures, a cost is a
cost is a cost, your perceived morality of the cost makes no
difference, money is fungible! Which means, money doesn't care! You'd
have to make up the cost of all that fraud-prevention in the same way.
--
-Barry Shein
The World | bzs at TheWorld.com | http://www.TheWorld.com
Purveyors to the Trade | Voice: 800-THE-WRLD | Dial-Up: US, PR, Canada
Software Tool & Die | Public Access Internet | SINCE 1989 *oo*
More information about the NANOG
mailing list