I really wonder how this is going to work, as it appears with their "The GNSO says these month-long locks will help reduce credit card fraud" comment, ICANN has zero clue how credit cards work.
Let's say Scammer Guy 'buys' an expired domain at GoDaddy (or Snap or Namejet. etc) for $50,000 using a stolen or compromised credit card, then 30-40 days later sells it for $20,000 on the open market, complete with transfer code. The domain is now out of the registrar's control and 45 days later, the credit card company sends them a chargeback notice.
Is the registrar supposed to just eat these losses and essentially open the barn door to the hordes of fraudsters and scam artists? I think part of the reason the 60-day lock was imposed was because it can take a minimum of 45 days to receive chargeback and fraud notices from VISA and MC. I hate to play the anti-globalist card, but this sounds like yet another global wealth redistribution plan.
I also don't like the fact that ICANN will now "remove the requirement for both gaining and losing registrants (ie buyer and seller) to be notified when a change of registrant occurs, on the basis that notifications don’t provide much protection when the losing registrant’s email has already been compromised."
Huh? So just because a tiny percentage of transfers take place using stolen credentials, that means that NO ONE is going to get a transfer email? That's insane, as I use this to determine when buyers transfer domains, as it can take months for registrars to update their info.
. Sure I looked this up fairly recently.
