From: David Van Wie <dvw@hamachi.epr.com>
Date: Tue, 30 Jan 1996 17:16:55 +0800
To: cypherpunks <cypherpunks@toad.com>
Subject: RE: FV Demonstrates Fatal Flaw in Software Encryption of Credi   tCards
Message-ID: <310D4CCE@hamachi>
MIME-Version: 1.0
Content-Type: text/plain



This announcement describes a rather sophisticated technology that   
delivers nthe same information that any retail clerk can capture today.   
 Using stolen credit card numbers is a risky business, and the ability of   
the credit card companies in detecting fraud and locating criminals is   
quite real.

Of course, since Federal law requires the credit card companies, not the   
user, to pay the costs of fraud, First Virtual's entire premise is a red   
herring.  If the credit card companies are willing to take the risk, they   
will (and are).

Scare tactics are nothing new in the PR business, but I would recommend   
that the principals at FV learn about "cutouts" for this type of   
gimmickry if they wish to preserve their reputations....

dvw