[9762] in cryptography@c2.net mail archive
Re: Rubber hose attack
daemon@ATHENA.MIT.EDU (JohnE37179@aol.com)
Fri Nov 2 17:43:10 2001
From: JohnE37179@aol.com
Message-ID: <6b.1d03cc0f.29145b23@aol.com>
Date: Fri, 2 Nov 2001 15:25:07 EST
To: rick_smith@securecomputing.com, vertigo@panix.com
Cc: JohnE37179@aol.com, Jason.Gruber@btinternet.com,
cryptography@wasabisystems.com
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In a message dated 11/2/01 2:03:05 PM, rick_smith@securecomputing.com writes:
<< Of course. But this hasn't prevented people from acquiring and using
credit
cards. More to the point, it hasn't prevented the merchants, banks, and
credit card issuers from maintaining and promoting this imperfect system.
This would suggest that the losses from fraud (which customers don't pay,
at least not here in the US) are amply covered by the income they bring in.
This sounds to me like a system that "works" in a practical sense. >>
In good times when a 5% loss factor disappeared in the profits it didn't
matter. In times when every penny is being squeezed (Airlines), and fraud
seems to have doubled the risk management view may have changed.
John Ellingson
CEO
Edentification, Inc.
608.833.6261
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