Code breaker cracks smart cards' digital safe

Article Abstract:

Paul Kocher, working at his four-person consulting company, Cryptography Research, has developed a way to break into smart cards. Smart cards are credit-card-size devices widely used in Europe and the US. Such cards, which are built around tiny computer chips, enable users to carry authorization information for credit card transactions, or even digital cash. Authorization information is important because a credit-card transaction usually requires a networked connection to a central data base, which adds as much as 25 cents to the cost of a transaction. By contrast, a smart-card transaction typically costs less than a penny. Kocher's break-in method involves drawing mathematical inferences from smart-card-chip power fluctuations. The bank and credit-card industries are concerned but are playing down the threat, calling Kocher's technique a 'laboratory attack.'

Research, Commercial banks, Encryption, Data encryption, Technology development, Smart cards, Smart card, Cryptography Research Inc.

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What do you risk using a credit card to shop on the Net?

Article Abstract:

A majority of consumers surveyed are still concerned about credit-card safety online. Merchants, banks and software firms should get the message out that if a credit card number is stolen and bills run up, the consumer would be out $50 at most, since when fraudulent credit-card charges take place online it is the merchant who must pay for the losses; indeed, many credit-card firms have zero-liability policies. Consumers will remain concerned about the risk of credit-card fraud as long as they continue to hear about cases of holes in data security, and until retailers and banks hold data-protection technology firms to higher standards.

Methods, Consumer protection, Internet security, Electronic commerce, E-commerce, Online shopping, Protection and preservation, Privacy, Right of, Right of privacy, Data security, Data security issue

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American Express hopes suit reshuffles card market

Article Abstract:

American Express (Amex) is hoping that the Justice Department's October 1998 ruling against MasterCard and Visa will improve its fortunes in the card market. In 1996, Amex Chairman Harvey Golub called on US bankers to move away from Visa and MasterCard and forge partnership agreements with his company. However, after financial firms shunned the offer, Amex accused Visa and MasterCard for implementing antitrust policies. The Justice Department ruled that those policies were hurting competition.

Comment:

Amex hopes Justice Dept's October 1998 ruling against MasterCard and Visa will improve its fortunes in the card market

Government regulation (cont), Legal/Government Regulation, MasterCard International Inc., American Express Co., Visa Inc., Article

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