Cambridge University researchers report that secondary credit security systems like Verified by Visa are focused more on shifting blame than on curtailing fraud.

"The 3D Secure system - branded as either Verified by Visa or MasterCard SecureCode - has become a ubiquitous extra line of security for many online transactions, with over 200 million cardholders registered," writes The Register's John Leyden.

"Cambridge researchers Professor Ross Anderson and Steven Murdoch ran a rule over 3D Secure and found it badly engineered in comparison with alternative schemes such as OpenID and InfoCard," Leyden writes. "Worse still, the scheme has become a target for phishing, partly because inconsistent authentication methods can leave customers confused."

Click here to read the story at The Register.