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A comment on The Darkweb’s New Favorite Drug Market, Profiting from Silk Road 2’s Demise. Parent comment

Re:The Darkweb’s New Favorite Drug Market, Profiting from Si... by anigbrowl on Thursday November 20, 2014 @02:29PM (#8637583)
Theya re doing something about it, which is why chip-and-pin will become the norm in the Us in the next couple of years. From October 2015 liability falls on whoever is the weakest link in the security chain, so get used to online vendors demanding a lot more personal info from you so they don't get left holding the bag.
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Re:The Darkweb’s New Favorite Drug Market, Profiting from Si... by rgbrenner on Thursday November 20, 2014 @02:45PM (#8637689)
>From October 2015 liability falls on whoever is the weakest link in the security chain, so get used to online vendors demanding a lot more personal info from you so they don't get left holding the bag.

Merchants are already 'holding the bag'... if they accept a fraudulent card for an order, the bank simply reverses the charge (and the merchant eats whatever they lost filling the order). So how does this change anything?

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Re:The Darkweb’s New Favorite Drug Market, Profiting from Si... by anigbrowl on Thursday November 20, 2014 @05:01PM (#8638447)
Incorrect. See page 10. http://www.firstdata.com/downloads/thought-leadership/EMV_US...
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Re:The Darkweb’s New Favorite Drug Market, Profiting from Si... by rgbrenner on Friday November 21, 2014 @09:44AM (#8641445)
POS counterfeit fraud is one type of fraud.. but it's hardly all fraud, and it doesn't apply to online transactions (there's no POS involved in an online transaction).

If chip and pin gets anywhere in the US, it'll be because of association requirements, not because they've pushed responsibility for one minute type of fraud on to merchants.

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Re:The Darkweb’s New Favorite Drug Market, Profiting from Si... by firepacket on Thursday November 20, 2014 @10:27PM (#8639667)
> Currently, POS counterfeit fraud is largely absorbed by card issuers.

It's a lie. Why do you think so many stores ask to see ID?

From what I've seen, the accepting merchant account is always debited for every chargeback and the card issuers rarely bear any burden from fraud.

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Re:The Darkweb’s New Favorite Drug Market, Profiting from Si... by x0x0 on Thursday November 20, 2014 @02:42PM (#8637670)
How does chip and pin help with card not present transactions?
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