full-disclosure - Re: Is the Bottom Line Impacted by Security Breaches?

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Message-ID: <433AE1AE.6020101@csuohio.edu>
Date: Wed Sep 28 19:33:53 2005
From: michael.holstein at csuohio.edu (Michael Holstein)
Subject: Re: Is the Bottom Line Impacted by Security
	Breaches?

> I'm not so sure it's that simple... People were aware of it.

Um .. but *which* 40mil was it? Am I one of them? Hearing that 40mil 
random people got nicked is one thing .. me getting a letter from MBNA 
another.

Mastercard/Visa certianly know .. and so do some member banks, because 
some of them (in Australia, IIRC) replaced their cards proactively.

Their "logic" behind this is that their "zero liability due to fraud" 
clauses make it illogical to even care about compromised account numbers 
.. but anyone that's tried to contest a charge (because most don't let 
you do it online like AMEX does) .. can attest to what a major PITA that 
is (certified mail, etc.).

> One would hear about such loss from publicly traded companies, similar to
> the 4% loss in Q2/2005 due to the Wendy's chili case.

And hopefully .. once they go public .. they'll be held a bit more 
accountable.

~Mike.