Comments on: CardSystem Solutions, 40,000,000 CC, hacker http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html The Emergent Chaos Jazz Combo Wed, 01 Feb 2012 19:20:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bob http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html/comment-page-1#comment-861 Bob Mon, 27 Jun 2005 17:15:00 +0000 http://emergentchaos.com/?p=820#comment-861 Who the heck said this was done by a hacker. More like a theft not a hacker. A hacker is a computer programmer, software developer, or the like. --Bob Who the heck said this was done by a hacker. More like a theft not a hacker. A hacker is a computer programmer, software developer, or the like.
–Bob

]]> By: John Kelsey http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html/comment-page-1#comment-860 John Kelsey Tue, 21 Jun 2005 09:34:36 +0000 http://emergentchaos.com/?p=820#comment-860 This sure looks like an externality to me. I run a business in a way that works well for me, but imposes costs on you that I get to ignore. That seems like one of the classic good arguments for regulation of some kind, though that sure doesn't tell you how to do the regulation to make things better. --John This sure looks like an externality to me. I run a business in a way that works well for me, but imposes costs on you that I get to ignore. That seems like one of the classic good arguments for regulation of some kind, though that sure doesn’t tell you how to do the regulation to make things better.
–John

]]> By: allan friedman http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html/comment-page-1#comment-859 allan friedman Mon, 20 Jun 2005 12:32:00 +0000 http://emergentchaos.com/?p=820#comment-859 I'm sticking with Adam on this one. Some instances, it's fair to say caveat emptor (in Europe, where fraud rates are much higher, the card never leaves your presence). The credit card industry is as much a utility as cable in terms of infrastructure functionality. I fail to see how knee-jerk anti-regulation snark is going to prevent fees (which are, as was pointed out, voluntary) from ballooning as the cap grows. Regulation is needed to provide mechanisms for downstream due diligence. It's clearly not there now. I’m sticking with Adam on this one. Some instances, it’s fair to say caveat emptor (in Europe, where fraud rates are much higher, the card never leaves your presence). The credit card industry is as much a utility as cable in terms of infrastructure functionality. I fail to see how knee-jerk anti-regulation snark is going to prevent fees (which are, as was pointed out, voluntary) from ballooning as the cap grows.
Regulation is needed to provide mechanisms for downstream due diligence. It’s clearly not there now.

]]> By: Pete http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html/comment-page-1#comment-858 Pete Sun, 19 Jun 2005 22:42:11 +0000 http://emergentchaos.com/?p=820#comment-858 "Congress needs to step in to regulate these industries who take these risks with our personal information, where we can't protect ourselves, negotiate, or even know that the company exists." I agree. They should limit the amount lost to any individual to at maximum $50 or perhaps $0. Then, they should make all credit cards voluntary instead of the mandatory system we currently have.... hmmm. In any case, they should do something to increase the fees for everyone well past the "overhead" we currently share with these incidents. This is all great use of Congress' time, given the 100 TRILLION times a consumer willingly hands their credit card over to some unknown clerk at a retail store - a much greater risk to any individual consumer, in my opinion, than these silly FUD headlines that seem to have caught everyone's fancy. “Congress needs to step in to regulate these industries who take these risks with our personal information, where we can’t protect ourselves, negotiate, or even know that the company exists.”
I agree. They should limit the amount lost to any individual to at maximum $50 or perhaps $0. Then, they should make all credit cards voluntary instead of the mandatory system we currently have…. hmmm. In any case, they should do something to increase the fees for everyone well past the “overhead” we currently share with these incidents.
This is all great use of Congress’ time, given the 100 TRILLION times a consumer willingly hands their credit card over to some unknown clerk at a retail store – a much greater risk to any individual consumer, in my opinion, than these silly FUD headlines that seem to have caught everyone’s fancy.

]]> By: Financial Cryptography http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html/comment-page-1#comment-862 Financial Cryptography Sat, 18 Jun 2005 15:27:11 +0000 http://emergentchaos.com/?p=820#comment-862 <strong>USA credit system is totally compromised, security-wise</strong> I wondered when we'd see this. Tao points to news that 40 million card data units have been breached: MasterCard International reported today that it is notifying its member financial institutions of a breach of payment card data, which potentially... USA credit system is totally compromised, security-wise

I wondered when we’d see this. Tao points to news that 40 million card data units have been breached: MasterCard International reported today that it is notifying its member financial institutions of a breach of payment card data, which potentially…

]]> By: DM http://emergentchaos.com/archives/2005/06/cardsystem-solutions-40000000-cc-hacker.html/comment-page-1#comment-857 DM Sat, 18 Jun 2005 11:05:52 +0000 http://emergentchaos.com/?p=820#comment-857 Coming soon from a card holding company near you.... <a href="http://csoonline.com/read/060105/debrief.html" rel="nofollow">http://csoonline.com/read/060105/debrief.html</a> Coming soon from a card holding company near you….
http://csoonline.com/read/060105/debrief.html

]]>