> > Dan Kaminsky <[EMAIL PROTECTED]> writes: >> Credit card fraud has gone *down* since 1992, and is actually falling: >> >> 1992: $2.6B >> 2003: $882M >> 2004: $788M >> >> We're on the order of 4.7 cents on the $100.
Interesting statistics. Seems like it's the same thing in Canada http://www.rcmp.ca/scams/ccandpc_e.htm Reported $227M in credit card fraud in 1999, droped at $200M in 2003. But these are still considerable numbers, and the thinking that Banks manage the risk and it's not worth them going over to smart card technology so they won't, which was mentioned in a few replies, I think no longer holds (probably because of the falling cost of the technology, so even if fraud $ is down as mentioned, ratio of fraud cost / cost of technology that is more secure still leads financial institutions to want to go to a more secure technology). Europe already has EMV, and Canada plans to have an infrastructure (card readers) that support it by 2007. Probably U.S. will follow http://www.atmmarketplace.com/news_story_23380.htm http://www.atmmarketplace.com/news_story_22849.htm http://www.kioskmarketplace.com/news_printable.htm?id=23380 And here, for example, is a quote from Visa Canada http://www.visa.ca/en/about/mc_article.cfm?pid=2 "Visa Canada Member financial institutions will implement chip at their own pace. It is expected that within seven years, almost every Visa card in Canada will feature chip technology and most merchants will have the equipment to accept and fully benefit from these cards." That was written in June 2003. --Anton --------------------------------------------------------------------- The Cryptography Mailing List Unsubscribe by sending "unsubscribe cryptography" to [EMAIL PROTECTED]
