Credit card crooks steal £14k from Katie Price

As long as we banks allow card schemes to process purchases to card accounts that have been made by keying in card numbers and not use any cardholder verification methods, we will encounter these fraud transactions. A friend of mine working in the security area of a bank once told me that:  "Since the card schemes allow e commerce transactions to take place without any other controls than the card number details visible on the card - why do we bother with atm:s with pinpads, end-to-end encryption, real time checking, video cameras and other measures. If we banks would treat atm withdrawals with the same relaxed attitude as card schemes do regarding e commerce payments, we could place a barrel full of cash outside the bank branch and attach a pack of withdrawal forms on a nail next to the barrel. Customers could pick up the needed cash and fill in their card number on the form and drop it into the barrel. Bank staff can then record the transactions to respective deposit acconts.In the event of a disputed withdrawal the bank branch would carry the liability... - imagine how much money we would save in technical and security measures investments and how wide access we could afford to offer!" This was in 1999. The e commerce purchases are still seeking for secure and convenient solutions.