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...for every valid/correct credit card? The answer is a ratio of 1:x_1, where x_1 is every correct cc. And each correct cc is a ratio to the total number of cc
by xtiansimon 10y ago
...for every valid/correct credit card? The answer is a ratio of 1:x_1, where x_1 is every correct cc. And each correct cc is a ratio to the total number of cc vulnerable to the system of attack, 1:x_2; and this is in turn a ratio of 1:x_3, for all the currently valid cc, etc.etc. Right? But what's more concerning is all of the successful fraudulant activity is adding to the loss those banks are adding to their books, which in turn will be passed on to customers as bank fees and other costs.
- tyingq 10y ago>the loss those banks are adding to their books There is no loss to the banks, assuming the fraudulent purchases are "card not present". The loss goes to the selling merchant. Your point of it being collectively passed on to the consumer is still true, of course.