[17749] in cryptography@c2.net mail archive
Re: Why Blockbuster looks at your ID.
daemon@ATHENA.MIT.EDU (dan@geer.org)
Sat Jul 9 23:33:49 2005
X-Original-To: cryptography@metzdowd.com
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From: dan@geer.org
To: cryptography@metzdowd.com
In-Reply-To: Your message of "Fri, 08 Jul 2005 13:26:54 EDT."
<20050708172654.GA51669@lightship.internal.homeport.org>
Date: Sat, 09 Jul 2005 17:38:33 -0400
> 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
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