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more-on-targeted-phishing-attacks

Posted by: admin 15 years, 11 months ago
A nice round up of article over at Infoworld, which links to a Washington Post article on virtual credit cards.

There's a lot of questions about the value of virtual credit cards. While consumers are limited to a $50 liability, the likelihood of that event has increased - or perhaps the awareness of that likelihood has increased. Also, I agree that attackers are combining stolen information to commit full-blown identity theft, so the less info "out there" the better. I wonder if there is a privacy benefit as well.

Still, despite a background in the payments and security space and a credit card account at one of the companies that offers the single-use numbers, I haven't signed up. Why not? It's not all that scary to me. I don't like that credit card company. I expect that my bank will switch providers now that MBNA has been acquired by a competitor. I like the miles from AmEx, but AmEx dropped their program.

What is interesting is that second-tier internet ecommerce players haven't promoted it in conjuctions with the issuers. People have more (though perhaps misplaced) confidence in the security of a large internet player like Amazon than in BobsElectronics.com. Couldn't Bob get more business if they relied on the security of the larger players like Citi and MBNA? Perhaps Bob doesn't want the buyers to be confused just when their are ready to purchase.

Seems like a good opportunity for a consortium of smaller ecommerce players. They face a drop in revenues due to fear of card fraud. They have different agenda from the processors, credit card companies and large ecommerce players.
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