from the not-exactly-optional dept.
bluefoxlucid writes "According to The Register, several banks are forcing users to opt-in to the Verified by Visa optional service by locking their cards if and when they encounter a Verified by Visa participating site and fail to opt-in. Register reader Steve says, 'This seems like a strange way to implement a voluntary system. On most of the retailers' websites there is no clue that you are about to be challenged by Verified by Visa until you attempt to complete the transaction. This means that you trigger the "fraud protection" unintentionally. And when you have located a retailer who doesn't require Verified by Visa to complete a purchase, you can't because your account is on hold.' Further, '[I]n some cases resetting the password is all too easy. Fraudsters know this and go after these credentials which, once obtained, make it harder for consumers to deny responsibility for a fraudulent transaction. Phishing scams posing as Verified by Visa sites have sprung up targeting these login credentials.'"
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