Make Banks Responsible for Phishers

October 6, 2005

Slashdot | Schneier: Make Banks Responsible for Phishers: “abgillette writes ‘Writing for Wired News, security guru Bruce Schneier says that the only way to stop phishers and identity thieves is to make financial institutions solely responsible: ‘Push the responsibility — all of it — for identity theft onto the financial institutions, and phishing will go away. This fraud will go away not because people will suddenly get smart and quit responding to phishing e-mails, because California has new criminal penalties for phishing, or because ISPs will recognize and delete the e-mails. It will go away because the information a criminal can get from a phishing attack won’t be enough for him to commit fraud — because the companies won’t stand for all those losses.””

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