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Thanks for dragging me under the bus gents. Bet your mum is proud of you. I was pointing out how some researchers had come to the conclusion. I reported on it. So eat it.

SC Magazines Editor Dan Raywood referencing Finextra, further expands the issue here: http://ow.ly/rnY6 in "Appreciation and understanding of social networking is a better tactic than simply blocking access"

With 1.5 billion cards in circulation worldwide, removing the magstripe is no simple task. That means every reader and every machine has to be refitted. I doubt we will ever see the magstipe go away. There are to many technologies relying on it and many technologies coming to secure it, or at least make its insecurity a non issue.

Stephen, dont be a hater! Hey, I know as well as you do that theres not much we can do to protect ourselves when the data is in someone elses hands. (other than check statements and refute charges) Significant updates need to be made in order to tighten up the system. I'm confident change will come over the next five years. If you have a solution and are actively marketing it, scream from rooftops because now is the time to be heard. 

Thanks for the comments Gerhard.

Roger, 1000% correct.

Great reconnaissance Elton. To defeat a criminal one needs to get in his head and think 2 steps ahead of him.

Just a quick thank you to all readers and fellow writers who have left comments here and in other blogs. The fact you take the time to read and thought enough to write an intelligent response is an honor. Your time and attention is much much appreciated. 

Robert

There is a tremendous burden on government and industry to protect. And that burden is just. There still needs to be a degree of citizen accountability. 

If consumers are to enjoy the conveniences of technology, they should have a sense on how to use it securely.

I'm not the only loon on the planet holding the publics feet to the fire. In the NZ Banks links above see;

"Banks in New Zealand are seeking access to customer PCs used for online banking transactions to verify whether they have enough security protection.

Under the terms of the banking Code of Practice, banks may request access in the event of a disputed transaction to see if security protection in is place and up to date.

The code, issued by the Bankers' Association now has a new section dealing with Internet banking.

Liability for any loss resulting from unauthorized Internet banking transactions rests with the customer if they have "used a computer or device that does not have appropriate protective software and operating system installed and up-to-date, [or] failed to take reasonable steps to ensure that the protective systems, such as virus scanning, firewall, antispyware, operating system and antispam software on [the] computer, are up-to-date."

I'm moving to NZ... if they'll have me.

Let me be clear. Law enforcement and security professionals are providing tremendous value. They can only do so much. Even when more security is introduced there will still be another path to exploit.

I speak to law officers who break their humps to protect us, and the public expects more than they or us can provide. Security is a process that requires a coordinated effort among the protectors and the protected. Maybe shaking up the status quo will seed a little inspiration to be security minded.