Assessment of Threats for Smart Card Based Electronic Cash

The security of smart card based electronic cash have been receiving significant attention recently. However, there has been little systematic analysis or quantification of the impact of the security break on the smart card based electronic cash economy. This paper discusses the assessment of threats in two phases using two different methodologies. The first is the assessment of overall threat using the business system analysis model called “value chain” the methodology to evaluate the activities necessary to achieve the final objectives of the counterfeiting organization. It is a qualitative method. The second is the quantification of such a threat using micro dynamic simulation.