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Online Payment System upscale-233882036058212 (Payment Cards : cd card,…

- - - - Fraud protection
      - Currency conversion handled by card issuer
    - - Goods & services prices are slightly higher than environment free of payment cards
      - Annual fee for consumers
- - - - inserting them into the appropriate machines
      - inserting currency into the machine
      - withdrawing the card
    - - cannot send or receive info
      - cannot increment or decrement the value of cash stored in the card, only through the device which the card inserted
  - - - Can store more than 100 times amount of information than magnetic strip cards
      - Can hold private user data; financial facts, encryption keys, account info, credit card numbers, health insurance info, medical records etc
      - Safer: the infos are encrypted, and it has PIN number which is not visible on card which makes credit theft difficult
    - - Telephone cards for public phones in Europe & Japan
      - Transportation cards fro buses, railways etc
      - The Octopus Card & Translink: has system for transportation which they can reload from bank accounts
      - Smart Card Alliance: promotes multi-app card which includes companies in banking, healthcare, financial services, communication etc
- - - - carefully designed phishing expedition targeting a particular person/organization
      - requires considerable research
    - - web server ignore all characters preceding "" ex: https://www.paypal.com@218.36.41.188/fl/login.html
    - - 1) Conference on E-mail and Anti-Spam
      - 2) Anti-Phishing Working Group (APWG)
  - - - unlawful activities conducted by highly organized, disciplined association for profit
      - differentiated from less-organized groups
    - - criminal act: perpetrator gathers victim's personal info
      - use info to obtain credit
      - perpetrator runs up account charges & disappears
    - - large number of computers implanted with zombie programs
    - - use a zombie farm, often by an organized crime association, to launch a massive phishing attack
    - - collectors: colelct info
      - cashiers: use info
- - - - Online cash storage
      - Online system payment -merchants contact consumer's bank
    - - Offline cash storage
        
        Money kept in wallet virtually
        
        protection against fraud
        
        Double spending
  - - - More efficient
      - occurs on existing infrastructure
      - doesn't require one party to obtain authorization
    - - No audit trail
      - Money laundering
      - Electronic cash
      - Interoperable software