General > General Technical Chat
It is here: crime tax!
PlainName:
--- Quote ---Just think back to 2008 when all those subprime mortgages collapsed.
--- End quote ---
Yes, and from a customer point of view that's a good thing. But from a "solve the crime" viewpoint I'm not so sure because the banks now deal with the crime, rather than the police, and if they're still making a profit after paying out, what do they care if the perpetrators aren't nicked? Granted, it's hard to catch 'em so might even cost more to try than to just put up with it, but it does kind of twist things.
eugene:
--- Quote from: dunkemhigh on September 01, 2022, 03:01:22 pm ---
--- Quote ---What if they just cashed the check without making any effort to verify the authenticity
--- End quote ---
That would be their fault and they should cough up because of that.
--- End quote ---
Exactly my point! And if anyone is going to go to the effort to enforce secure CC/debit transactions, it will be them. I'm not going to do it. I don't want to depend on the government to mandate it. I don't want the retailers to be stuck with the cost because it's completely beyond their control (short of accepting cash only.) Who's left? Who's in a position to make it worth their while economically?
bdunham7:
--- Quote from: eugene on September 01, 2022, 06:35:57 pm ---Exactly my point! And if anyone is going to go to the effort to enforce secure CC/debit transactions, it will be them. I'm not going to do it. I don't want to depend on the government to mandate it. I don't want the retailers to be stuck with the cost because it's completely beyond their control (short of accepting cash only.) Who's left? Who's in a position to make it worth their while economically?
--- End quote ---
Actually it was the retailers fault for while as they dragged their feet implementing the (more) secure chip and RFID card technology. VISA and MC implemented a policy that any retailer not offering chip readers by a certain date would be fully responsible for any resulting fraud. Also, as far as apportioning costs, different retailers pay significantly different merchant rates (% of transactions) depending on their business sector, average ticket and previous loss history. Retailers are part of the show, not an innocent bystander.
PlainName:
--- Quote ---Exactly my point!
--- End quote ---
OK, I see where you are coming from on that, now. But I think dbunham7 has answered appropriately :)
pcprogrammer:
--- Quote from: bdunham7 on September 01, 2022, 06:48:10 pm ---Actually it was the retailers fault for while as they dragged their feet implementing the (more) secure chip and RFID card technology. VISA and MC implemented a policy that any retailer not offering chip readers by a certain date would be fully responsible for any resulting fraud. Also, as far as apportioning costs, different retailers pay significantly different merchant rates (% of transactions) depending on their business sector, average ticket and previous loss history. Retailers are part of the show, not an innocent bystander.
--- End quote ---
And on the end of the line, you the customer pays for it all.
And that is the stupidity of it all. Prices go up, so you need a raise in salary, but for the employer to pay that raise, he has to raise the prices. For a good deal of time after the big war it worked well because production costs dropped and purchasing power raised, but with what is happening at the moment that kite does not fly anymore. So where does it end?
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