Reply to post: Banks (and Apple) must be accountable for fraud

Apple Pay a haven for 'rampant' credit card fraud, say experts

a_milan

Banks (and Apple) must be accountable for fraud

As nicely pointed out by Bruce Schneier a while ago (https://www.schneier.com/crypto-gram/archives/2005/0415.html#2), until the financial institutions are held accountable for fraud, there won't be an incentive for them to build proper user data protection and identity verification.

In this case Apple should take some share of responsibility but it seems their mechanism is reasonably safe, and far above what banks are doing.

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