> 1992: $2.6B > 2003: $882M > 2004: $788M > > We're on the order of 4.7 cents on the $100.
I consulted an oracle at a major third party processor. He said the number is more like 64-67 basis points, that you have to be very precise about your definitions, i.e., very precise about what goes in the numerator and what goes in the denominator. For example, if a dishonored transaction is the merchant's fault and the merchant has to foot the bill then the card association has not had a fraud loss. I doubt it is actually germane to this list, but I can go back to said oracle if requested. BTW, if you ever have the opportunity to hear Frank Abagnale's discussion of check forgery by all means do so. --dan --------------------------------------------------------------------- The Cryptography Mailing List Unsubscribe by sending "unsubscribe cryptography" to [EMAIL PROTECTED]
