You do realize that Visa, Mastercard, American Express and probably others have exactly that sort of program in place for their customers?
No, it isn't. There's a world of difference between "We won't hold you responsible for fraudulent charges" (which is what they offer) and "we will help prevent frauduent charges in the frist place" (which the credit card companies really don't claim to do).
And it isn't working?
That depends upon who you ask, and what you define as "working".
Your average consumer who gets a card number stolen and notes fraudulent charges, can, after jumping through hoops, get those charges expunged. In that sense, what the credit card companies does works. Sure, there are occasional horror stories, but with millions of cards, you'll expect the occasional snafu.
In the sense that they have no way to be proactive and prevent the theft in the first place, what they are doing doesn't work at all.
Mind you, the big horror of identity theft is probably Social Security numbers, rather than Credit Card numbers. And those are usually stolen by your fellow coworkers who have access to your HR files...
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
(no subject)
Date: 2007-01-25 03:19 pm (UTC)No, it isn't. There's a world of difference between "We won't hold you responsible for fraudulent charges" (which is what they offer) and "we will help prevent frauduent charges in the frist place" (which the credit card companies really don't claim to do).
And it isn't working?
That depends upon who you ask, and what you define as "working".
Your average consumer who gets a card number stolen and notes fraudulent charges, can, after jumping through hoops, get those charges expunged. In that sense, what the credit card companies does works. Sure, there are occasional horror stories, but with millions of cards, you'll expect the occasional snafu.
In the sense that they have no way to be proactive and prevent the theft in the first place, what they are doing doesn't work at all.
Mind you, the big horror of identity theft is probably Social Security numbers, rather than Credit Card numbers. And those are usually stolen by your fellow coworkers who have access to your HR files...