> So please don't make straw man argument. Your anecdata doesn't coincide with reality. Maybe your card company does - probably issued through a bank - but mos

> So please don't make straw man argument. Your anecdata doesn't coincide with reality. Maybe your card company does - probably issued through a bank - but most people's don't, and Visa/Amex proper, etc certainly do not. You would be surprised by the number of fraudulent orders that are placed on major ecommerce sites daily. It's up to the ecommerce site to detect the fraud, and hopefully refund the order in full before a chargeback hits. Visa literally has all the transaction data for all issued Visa accounts. They can stop fraud dead, if they had a financial interest in doing so. As-is, they (and their issuers/gateways/processors) actually profit off fraud, via the chargeback fee. The millions of accounts Krebs mentions in the article? Did they all get fraud alerts when the "carding" transaction was processed on their card... to verify it was a live account and had available balance? Nope.