The whole concept of payment cards is flawed. We should have moved away from this decades ago at this stage.
How does an industry expect not to have massive fraud when they've a broken system that largely relies on a 16-digit number and an exp date and ccv that is handed to retailers on the basis of trust. I know there are optional extra security measures but the card can still be potentially cleared out.
The security on my gmail is far harder than my credit card! That's absolutely insane and a massive indictment of the whole financial sector.
They're not addressing fraud because they've a bit insurance slush fund and they're wasting law enforcement time and inadvertently allowing terrorists, criminals and who knows else to get money out of weakly secured systems.