Thanks, Devil's Advocate, for the earlier discussion of foreign exchange procedures.
The US is estimated to be responsible for roughly one third of the world's credit card fraud. We're talking 5% of the world's population suffering 33% of the world's credit fraud. And it's only been getting worse over time. The tools to fix this problem are well understood and are relatively cheap compared to the cost of doing nothing. But being able to explain away loan shark level usury rates to a proudly ignorant populace is a powerful disincentive to doing anything about it. These days we're actually combining the worst of both worlds by deploying expensive new POS hardware for use with NFC devices and yet leaving most of the new security tools either half implemented or completely disabled.
Rather than percentage of the world's population, it might be more meaningful to compare what percentage of credit card charge volume take place in the US compared to what percentage of the credit card fraud. This suggestion in no way invalidates your point that the tools exist to reduce fraud and those tools should be available to the consumer. I wish I one of my existing no-FTF credit cards had chip-and-PIN available.
Sometimes I wonder what proportion of the GDP of the United States is fraudulent transactions. ;) Certain parts of the society seems to pride itself in figuring out how to stretch the rules beyond the breaking point, and many of those seem to be in positions of power these days.