Wireless insecurity at NANOG meetings

Sun Sep 22 00:10:40 UTC 2002

> I like your cheque example, again I pick on credit cards.. the banks get so
> paranoid on internet shopping and yet its very common for fraud to occur because
> of who sees your card when you're out shopping at the local store...

Actually, you are not correct. The credit card companies are not doing jack
shit to halt any kind of fraud since it lets them raise the rates a lot
higher.

One of my friends owns a mail order company that sells cigars. Every time
they flag certain transaction (both electronic or convention) as 'fraud' and
report it back to the CC company together with the address where stolen
goods are supposed to be picked up at, CC company never reports it to police
and gets the idiots. Why? Because they only lose 3% or so on transactions
but get to tell congress that they are losing 9%. Nice 6% goes right into
their pocket.

Follow the money trail and you will get your answers. As a certain
individual said five years ago "When insurance companies start jacking up
premiums for those who ignore security issues, *then* we will get everyone
doing something".

Alex