Bruce Schneier's op-ed on CNet about identity theft talks about why "two-factor" authentication (e.g. having to enter a password and a number that you read off of a little keychain fob) is useful for lots of things, but not for preventing identity theft. He goes on to explain how to practically solve identity theft through new liability measures:
Criminals impersonate legitimate users to financial intuitions. That means that any solution can't involve the account holders. That leaves only one reasonable answer: Financial intuitions need to be liable for fraudulent transactions.
They need to be liable for sending erroneous information to credit bureaus based on fraudulent transactions. They can't say that the user must keep his password secure or his machine virus-free. They can't require the user to monitor his accounts for fraudulent activity, or his credit reports for fraudulently obtained credit cards.
Those aren't reasonable requirements for most users. The bank must be made responsible, regardless of what the user does.
If you think this won't work, look at credit cards. Credit card companies are liable for all but the first $50 of fraudulent transactions. They're not hurting for business; and they're not drowning in fraud, either. They've developed and fielded an array of security technologies designed to detect and prevent fraudulent transactions. And they've pushed most of the actual costs onto the merchants.
Enjoy Michael Mullany’s review of the Gartner Hype Cycle, with all the things tech predictors got right and all the things they got wrong: “we’re terrible at making predictions.” Lesson 6: Some technologies keep receding into the future There are some notable technologies that recur on the Hype Cycle and every time they appear they […]
Why we secretly love our cords. Tamara Warren: There’s a certain security in the cord. It’s the idea of connection, perhaps even dating back to our days in the womb. … A battery, no matter how sophisticated, is fleeting. When we have our cords with us, we are in constant pursuit of power, even when […]
The classic beatbox – not an expensive clone or a collection of cleverly-tweaked samples – is back. Roland’s TR-08 directly models the original machine’s analog circuits to recreate its sound as accurately as possible with modern digital technology, and joins revived versions of the TR-909[Amazon] and TB-202[Amazon] in the company’s lineup of boutique boxes. The […]
The Pry.Me Bottle Opener holds tens of thousands of times its own weight, and you can pick one up now from the Boing Boing Store.This remarkable keychain is considerably smaller than any of your keys, but don’t let that fool you: it can easily open any bottle, and could even tow a trailer full of […]
Guaranteeing your privacy online goes way beyond checking the “Do Not Track” option in your browser’s settings. To ensure that your internet activity is totally hidden from Internet Service Providers, advertisers, and other prying eyes, take a look at Windscribe’s VPN protection. It usually costs $7.50 per month, but you can get a 3-year subscription […]
This project management bundle will help you get organized and learn how to lead a team to success. You can pay what you want for these five courses when you pick them up from the Boing Boing Store.To help you become an invaluable asset for your company, this bundle includes a curated collection of professional […]