Loopholes in Verified by Visa & SecureCode

Trend Micro's Rik Ferguson posted a good piece on Thursday about a major shortcoming in credit card security programs maintained by MasterCard and Visa. Although the loophole that Ferguson highlighted may be unsettling to some, fraudsters who specialize in stealing and using stolen credit cards online have been exploiting it for years.

via Loopholes in Verified by Visa & SecureCode -- Krebs on Security