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By Richard Fernandez

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The First Amendment

January 21, 2010 - 11:50 pm - by Richard Fernandez
geoffgo
2010-01-23 10:36:10

Tony@76

I’m worried about how this is being reported. Your two cites don’t delve into the hacks very deeply.

I’ve been intimately involved in the technicalities of remotely-originated credit/debit transactions since 1987. Makes me question how this could be done.

The skillset to disengage the built-in security protocols enough to spoof the authentication process is rare. To disable the security features inherent in the process, given the transaction volume necessary to reach near $900M at < $200 per contributor in illicit contributions is supposed to be really, realy hard. Like foolproof, no? These folks were very good.

Whichever processor(s) was involved, it now is shown to be easily-fooled, or corruptible. These are the same processors doing $10 of millions per minute of YOUR online transactions.

It’s a matter of microseconds, when the police are only months or years away. Forensics = financial bodybags. The money is still offshore, even if we now know exactly how successful they’ve been at their looting, so far.