Comments: Cost of Phishing - Case in Texas

Interesting. I imagine this sort of scam will severely hold back the moves toward Internet banking and e-money in general, as most people who don't understand the technology will hear the stories and get scared off using anything online..

Posted by Digbt at May 6, 2004 01:55 PM

One might think so, and this was the story put about for SSL - if people aren't secured then they won't use their credit cards on the net to purchase amazon goods. In the event, the people didn't pay any attention whatsoever, and takeup was almost entirely based on the normal vector for this sort of ramp up: word of mouth.

Now we are a decade down the track, and the security system that was supposed to stop MITMs has fallen to an MITM. What's more, we know of another two MITMs that secure browsing is vulnerable, but they aren't used because it's easier not to.

So where are we? FUD doesn't seem to move the market, but it does move companies and suppliers. The MITM now needs to be fixed in the browser, but the browser makers think that SSL solves the MITM. Something will give somewhere, but, in the meantime, don't believe everything you read (in your email...).

Posted by Iang at May 6, 2004 07:22 PM
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