That diamond-studded camel saddle, btw? I didn't make it up. (Although obviously it didn't happen in Neasden.)
One of the 'Stans, I forget which, had a median credit card transaction of $5000. Now, considering that the median credit card transaction (yr 200ish) across the G20 was between $10 and $30, that's quite the disparity. Part of it was explicable by the number of worthies in said 'Stan who qualified for a credit card, but from the point of view of fraud, that's somewhat of a petitio principii.
In an echo of Pokerstars' "Not really our problem, mate," Visa International (as then was) contacted the financial authorities of the 'Stan in question and pointed out that, according to the Model, 99% of their credit card transactions were fraudulent. The Bank of 'Stan's response?
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Date: 2010-07-18 04:44 pm (UTC)One of the 'Stans, I forget which, had a median credit card transaction of $5000. Now, considering that the median credit card transaction (yr 200ish) across the G20 was between $10 and $30, that's quite the disparity. Part of it was explicable by the number of worthies in said 'Stan who qualified for a credit card, but from the point of view of fraud, that's somewhat of a petitio principii.
In an echo of Pokerstars' "Not really our problem, mate," Visa International (as then was) contacted the financial authorities of the 'Stan in question and pointed out that, according to the Model, 99% of their credit card transactions were fraudulent. The Bank of 'Stan's response?
"It's just the way we do business here."