Tuesday, July 15, 2003

Internet Chat as Tool to Teach Theft of Credit Cards

Emerce reports about research by the Honeynet project on credit-card fraud. It shows that Internet Chat Rooms may be a vehicle for learning about credit-card fraud and exchanging information. The report is also covered byThe New York Times who have logged in and obtained credit-card numbers for 0,50 dollarcents and 1 $.

Now, lets have a closer look. One can obtain the numbers by picking up copies of receipts in restaurants (I was amazed to discover lately how sloppy customers are in taking care of their own copy). And one can use the numbers on the web or in mail-order telephone-order situations. So I'm not really sure if the suggestion that a move to IC-chip or migration to EMV will solve credit-card fraud is really true and can be the basis for liability shifts and all that....