farce protection or needle-in-a-hay-stack

Oh--God bless America, for finding yet another way to keep us safe using the novelty of the inter-webs.  How on earth does this work to foil the hackers, spammers, scammers and skimmers?  It's like proving that one is not in fact a robot by being able to input a computer-generated verification-code: PX34.  I like how that what passes for the Turing test and thereby affords one all the rights and dignities of being human.  I read today that there were over twenty thousand incidents of ATM fraud in Germany over the past year--where some one has attached a fake console to the card-reader of a machine that gathers one's bank information.  I think that that is rather the technology and risk that the US is exporting.