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Thursday, August 25, 2005 |
Miguel and Daniel wrote an excellent post about what the poor people have to suffer in Venezuela under Chavez, please read Death by asphyxia in Venezuela.
8:21:46 PM 
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Visa Seeks New Ways to Keep Data Secret. After a payment processor exposed the information of more than 40 million cardholders, credit card companies are focusing on securing that personal information at all times. By ERIC DASH. [NYT > Home Page]
Finally an article that tackles the reality of credit card fraud. There are some admissions of facts I have been saying for a long time:
The card companies, which in theory can fine or suspend banks, have little incentive to punish them because that would reduce the volume of transactions and cut into their fees.
And the most important issue:
Moreover, merchant advocates say the banks even profit from frauds if the losses are not too large. Not only do they take in charge-back fees from merchants of $25 to $30 for each fraudulent purchase, but in many cases - especially those involving online merchants that have riskier transactions - the retailer must also swallow the cost of the item purchased.
5:38:42 PM
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© Copyleft 2005 Alfredo Octavio.
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Diccionario RAE (Click Here)