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Submission + - Everything you know about password-stealing is wrong ( 1

isoloisti writes: An article by some Microsofties in the latest issue of Computing Now magazine claims we have got passwords all wrong.

When money is stolen consumers are reimbursed for stolen funds and it is money mules, not banks or retail customers, who end up with the loss. Stealing passwords is easy, but getting money out is very hard. Passwords are not the bottleneck in cyber-crime and replacing them with something stronger won’t reduce losses. The article concludes that banks have no interest in shifting liability to consumers, and that the switch to financially-motivated cyber-crime is good news, not bad.

Article is online at site (hard-to-read multipage format)
or pdf at author’s site.

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Everything you know about password-stealing is wrong

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  • "banks have no interest in shifting liability to consumers" ...but i must admit i actually sort of agree with this, or at least it doesn't seem way beyond the realm of possibility even though it seems unlikely in this era of bank super profits and legal shomozzles.

    i'm with ing and just about every revision to their t.o.s. seems to be about protecting online banking more and offering more protections, so while they seem to be alert to the problem, i haven't seen much in the way of duck shoving or passing the

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