Re: PIN Scandal "Worst Hack Ever;" Citibank Only The Start

["Thomas C. Greene" <thomas.greene () theregister co uk>]

On Saturday 11 March 2006 8:12 am, Florian Weimer wrote:
> Could anybody explain to me why this is called a "scandal"?  This
> round of problems seems to be related to questionable customer
> activities, and is not exactly the bank's fault.

The scandalous part is the fact that the identity of the outfit that caused 
this problem (OfficeMax suspected) is being withheld from the public.  
Whoever it was is being protected from the loss of customer confidence that 
they so richly deserve.  Ironically, by circling the wagons like this, the 
credit associations and issuing banks are slightly undermining public 
confidence in the entire system, to avoid greatly undermining confidence in a 
single outfit. The company in question must be a very big customer, because 
this isn't the kind of trade-off they can afford to make every day.

chrz,
t. 


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