Duane wrote:
.... To make matters worst identity theft is rampant, even in the US
(as noted by Ian's link),... (If it's rampant in the US, imagine how
bad it really is in countries that have much bigger issues then
identity fraud)
Actually, to be fair, identity theft is rampant
especially in the USA, and less so elsewhere.
The reason for this is fundamentally the USA
is the most advanced credit society. Others
will/may catch up in time, but right now they
are facing phishing and identity fraud losses
of 1% - 10% as severe as the US.
In short, it's an American Disease (tm). Sorry
about that!
So you could ask why all these foreigners are
banging the drum to protect yanks against
phishing.... and I have no good answer for that ;-)
( Slight amusing aside: I was talking to an
american woman yesterday on the phone, and
suggested that she should insert her photo
into the credit reports. She didn't understand
how that would help, until I explained that
then she would have to be *present* to get
credit extended. "Never!" I could hear her
disgust at this notion over the other end of
the phone, she ruled this concept so out of
court it made me feel as if I was some primitive
from another continent. Which, in some senses,
I was! )
iang
--
News and views on what matters in finance+crypto:
http://financialcryptography.com/
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