Richard's Kingdom

Credit-card companies claim their 3D-Secure system – branded as Verified by Visa and Mastercard SecureCode – provides an extra layer of security against online fraud. Back in November I suggested that, rather than protecting consumers, the extra security appears to benefit banks and merchants by pushing fraud liability onto card-holders.
Now Ross Anderson and Steven Murdoch, [...]

Back in April I wrote about problems with the credit-industry password scheme Verified by Visa. At the time I compared it to so-called phishing scams – fraud committed by tricking unwary email users into handing over their passwords, bank account details or credit-card numbers, then ordering goods or transfering cash from their accounts.
It turns out [...]