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Originally Posted by StirCrazy
Quote:
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Originally Posted by robert
Based on Canadian Bankers Association out of $128 bil. in total credit card purchases for 2001, 142 mil. were frauds. That is about .0011% if I am correct.
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Actualy in a percentage it is 0.11% so that means 1 in 1000 people will be riped off.. not a safe as you though it was now..
Steve |
Oooops, sorry. Steve, you are right. I forgot to translate ratios to percentages. My point was not to show how safe/unsafe it is. Even though I still consider 0.11% quite safe, cosidering that number represents all credit card transactions, not on-line only. Only $2 bil. counted for online transactions. That means 1.6%. That tells me that approx. 2 in 100000 will be riped off online. So how unsafe it sounds to you now Steve?
My point was to show that there are some more tragic thinks to worry about than safety of credit card transaction. 0.43% means that 4 in 1000 people will be diagnosed with cancer within next 12 months.