gabbo529 writes: "President Obama, in releasing his new cyber security initiative, revealed the average victim of online fraud loses $631 out-of-pocket and it takes them over 130 hours for them to recover from having their identity stolen. The new initiative would introduce Online ID credentials; in the form of software on a smartphone or a smart card; and would store a single password, rather than forcing people to remember countless user names and passwords." Link to Original Source
Computers are unreliable, but humans are even more unreliable.
Any system which depends on human reliability is unreliable.