Neal O’Farrell, Consumer Security Adviser for Intersections Inc, writes:
1. Zero Liability has made consumers feel they have nothing to lose. The notion of zero liability came from a blend of federal law (the FACT Act or FACTA) and marketing savvy by financial institutions, to shift losses to identity theft from consumers and victims to the financial industry. The financial industry has often seen absorbing identity theft and fraud losses as the cost of doing business and keeping customers happy, but an unfortunate side affect: consumers believe that zero liability means zero responsibility or loss.
Read reasons 2-12 on eChannelLine