A recent paper calls out 3-D Secure as a security failure that was pushed on consumers by financially incentivized merchants. The authors suggest a path towards more robust authentication that is technologically sound and where the economics would work for banks, merchants, and customers – given a gentle regulatory nudge. The results of this research could prove devastating to both the eCommerce and the credit credit credit card industries as the growth in eCommerce is the result of the fact that consumers are not liable for fraudulent transactions. Cybercriminals who exploit the 3D Secure protocol could leave innumerable consumers financially liable for their crimes.”]
Source: https://www.csoonline.com/article/2136051/is-3d-secure-insecure-.html