I’m less irked, but still irked nonetheless.

I’m talking about the frequent guarantees, usually in the form of snazzy-looking icons, that are plastered all over online shopping and banking websites. Things like “Guaranteed 100% Secure Transaction” , “Safe Shopping Guarantee”, and “Checked to be Hacker-Proof”. All wonderful little techniques designed to instill confidence in the online shopping process that the site is secure and it’s safe to shop or bank there. The problem is that they cannot make such a guarantee.

Why, you ask? Simple: Security isn’t just on one end – it’s as much about your computer as it is about the website. And they know nothing about your computer. They can have the most advanced security in the world, and store your transaction data in military-grade facilities protected by superheroes and sharks with laser beams attached to their heads, but at the end of the day, security is only as strong as the weakest link in the chain, and if your home computer is compromised in any way, all their security is for naught. To you, there is no difference between a criminal who breaks into a bank’s computer system to steal your information, or one who hacks into your computer to steal your information. Either way, your losses are equal.

That’s what irks me. In the name of business, these companies try to convince you that, just because they’re safe, you’re safe. And that’s not true. Neither in principle or in practice. And when push comes to shove, very few of these companies will own up to their mistake and cover your losses if anything was to occur on your end of the transaction. There are actually ongoing lawsuits which show just how much water these “guarantees” actually hold. Luckily, the consumer usually ends up on the winning end if the matter goes to court, but who wants the hassle and expense of taking a company to court?

http://financialcryptography.com/mt/archives/001071.html

http://www.lightbluetouchpaper.org/2008/04/09/new-banking-code-shifts-more-liability-to-customers/

These types of guarantees perpetuate the myth that internet security is a one-sided affair. If consumers were actually aware of the real risks of online shopping, perhaps that would be motivation for more proactive protection and real solutions to identity theft. As it stands, while customers remain in the dark, cyber criminals will continue to flourish, silently stealing identities and financial information from consumers who think they’re secure because their website told them so.

(Note to businesses that read this blog: You’d better watch out about guarantees on your website – how long until someone sues you because you claimed a secure transaction without providing the customer with any kind of protection on their end?)