RE: FV Demonstrates Fatal Flaw in Software Encryption of Credi tCards
Of course, since Federal law requires the credit card companies, not
On January 30, 1996 nsb[SMTP:nsb@nsb.fv.com] wrote: the
user, to pay the costs of fraud, First Virtual's entire premise is a red herring.
Actually, you're wrong here too. It is the banks, not the credit card companies, that carry the risk.
Changing the subject doesn't change the point. Your announcement implies that users are liable, and that is incorrect. This is misleading, and in my view, reprehensible. This was the point of my post. The fact that the fraud is traceable when detected should have been self evident. If your post has said "Financial Industry Should Watch out for Keyboard Sniffers" as a *potential* threat for which the risks should be weighed, that would have been different. Arguably farfetched, but different. Your post relies on people's ignorance of their rights with respect to credit card liability, and therefore is shameful. dvw
Changing the subject doesn't change the point. Your announcement implies that users are liable, and that is incorrect. This is misleading, and in my view, reprehensible. This was the point of my post. The fact that the fraud is traceable when detected should have been self evident.
I think there is an even stronger point to be made. We can be relatively sure that VISA is not going to go out of business any time soon. On the other hand, if an E-mail intercepting virus lost FV tons of money, FV might conceivably go belly up sticking their customers with the bill. With FV, there might indeed be a risk to the user. David
participants (2)
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David Mazieres -
David Van Wie