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Making it easy for crooks
20-11-2008
by Ralph Averbuch
Here’s a scary thought. If you think that being the subject of credit card fraud is bad (and it is) then you'll either be surprised or saddened by the news that the online world, at least in terms of Ireland, isn't doing much about this problem either. According to recent analysis performed by Deloitte Enterprise Risk Services, the majority of Irish online sites (65 percent) do not enforce 'adequate enough security for online payments'. Deloitte looked at more than 100 Irish based e-commerce sites. Whilst the report says some progress has been made in security, a significant number still don’t comply with current industry standards. Fifty-three percent of companies supported weak or legacy encryption, with 2 percent of sites not encrypting cardholder data entry sessions at all! It's got to leave you wondering how this last 2 percent are even allowed to trade? Any info an unwary user passes to these sites, such as name, address and credit card details can potentially be compromised and accessed by fraudsters. Is it too much to expect that sites seeking people’s personal financial data should have at least some minimum duty of care? One thing's certain; banks will not look kindly on losses incurred due to fraud that’s down to compromised credit card data from inadequately secured e-commerce sites.
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