Feeds

Net shoppers bullied into being Verified by Visa

When voluntary means mandatory

3 Big data security analytics techniques

One card issuer, MBNA, told Steve that you are only able to avoid enrolling by clicking "not at this time" three times. His main card is held with Egg but unfortunately his attempts to make himself understood by the bank have floundered.

"Every person I speak to has either said that the system is optional, or that they don't know whether the system is optional or not.

"They have taken my complaint to be 'Verified by Visa is insecure' but my complaint is that I have chosen NOT to enrol, since I do not believe it makes me any more secure. But because of the fraud prevention system my card is blocked every time I choose not to enrol in Verified by Visa."

Steve is constantly having to unlock his card because of his doubts over the system. Worse still he's never quite sure which merchants are signed up to the scheme.

"This seems like a strange way to implement a voluntary system. On most of the retailers' websites there is no clue that you are about to be challenged by Verified by Visa until you attempt to complete the transaction. This means that you trigger the "fraud protection" unintentionally. And when you have located a retailer who doesn't require Verified by Visa to complete a purchase, you can't because your account is on hold.

3rd Man's Goodwill said that uptake of Verified by Visa by both merchants and consumers is low. "Customers don't like it because they get taken to a third-party website to enter their information. They have a new password to remember. How it's implemented varies from bank to bank," he explained.

Worse still, in some cases resetting the password is all too easy. Fraudsters know this and go after these credentials which, once obtained, make it harder for consumers to deny responsibility for a fraudulent transaction. Phishing scams posing as Verified by Visa sites have sprung up targeting these login credentials. "We like to support anything that aims to cut plastic fraud but Verified by Visa is flawed. MasterCard SecureCode works in much the same way and is no better," Goodwill added.

Or as Steve puts it, "Frankly, I feel like I am being bullied into accepting a system which is as flawed as Chip and PIN. At least they had the decency to make Chip and PIN mandatory so we knew where we stood."

®

3 Big data security analytics techniques

More from The Register

next story
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Samsung Galaxy S5 fingerprint scanner hacked in just 4 DAYS
Sammy's newbie cooked slower than iPhone, also costs more to build
Putin tells Snowden: Russia conducts no US-style mass surveillance
Gov't is too broke for that, Russian prez says
Snowden-inspired crypto-email service Lavaboom launches
German service pays tribute to Lavabit
Mounties always get their man: Heartbleed 'hacker', 19, CUFFED
Canadian teen accused of raiding tax computers using OpenSSL bug
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Heartbleed exploit, inoculation, both released
File under 'this is going to hurt you more than it hurts me'
Reddit users discover iOS malware threat
'Unflod Baby Panda' looks to snatch Apple IDs
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.