Re: The solution to Phishing

[Drsolly <drsollyp () drsolly com>]

> Nah -- that's just "faster Darwinism"...
>
> Face it -- some people really are just too stupid to be allowed to do 
> some things (Dubya, president; thousands involved in self-inflicted, 
> non-deliberate gun injuries  per year, gun ownership/access; persistent 
> drunks, driving, etc, etc, etc).  We don't need a perfectly safe 
> banking system -- we need a banking system that is "safe enough".

Not even that. All we need is a banking system that's safe enough for me. 
So, we really don't need to worry about phishing or ATM fraud. Windows 
insecurities aren't a problem (except insofar as they lead to the spam I 
get and DDoS attacks on sites I want to use) and viruses ditto.
 
> The _real problem_ (and the one that really bothers me) is how much is 
> it costing me (in terms of extra %'age on my CC interest rate and/or

I pay zero on my CC, because I don't use it to borrow money, because the 
rates they charge for borrowing money are really high - this is because 
it's a *very* high risk loan.
 
> extra %'age on my mortagage

Your mortgage % is based on the general interest rate, plus a bit more 
that represents the risk that you'll default. Phishing won't affect that.

> and/or in inflated monthly account charges 
> or in reduced %'age interest on my savings, etc, etc) to support the 
> current level of stupidity?
>
> I mean, no-one here is gullible enough to believe that the banks 
> actually _lose_ anything from all the identity fraud, etc we are 
> (collectively) suffering, right?

I'm gullible enough. The banks would be making bigger profits more easily, 
without fraud.
 
> So, how much is it costing _me_ to support the current level of idiot 
> allowed to use the currently very weak online banking, sales, etc 
> business?

It doesn't have to cost you anything. Just choose a bank that doesn't
offer online banking; market forces lead to survival of the fittest banks.
If you can't find such a bank, then that's excellent news - it means that
there's a market opportunity for you to start one. If by doing that, you 
can make your bank charges lower, you'll prosper. If that doesn't lead to 
lower bank charges, then you've discovered something useful.

> I'd be much happier if I could easily find the comparative monetary 
> cost of what is currently the banks, CC companies, etc deciding that 
> current practice is (near enough to) "safe enough"...

Interest rates are, in the long run, the rate of inflation plus about 2 or
3 % (look at the yield on undated gilts). Anything more than that, is
either a risk premium or a profit. So, look at what you're paying, and you
can calculate it.

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