Fraud Summit - San Francisco 2014 - Payment card fraud remains a top challenge for financial institutions. The latest wrinkle: Breached retailers such as Target and Neiman Marcus, whose compromises led to wholesale card fraud. Card issuers absorb increasing losses linked to debit and credit fraud, yet they have little control over the third-party points of compromise. Register for this session and learn more about:
In the wake of the Target, Neiman Marcus and other retail breaches, banking/security leaders clearly feel abused and frustrated - and they want to see changes in how merchants conduct and process secure payments. According to the 2014 Faces of Fraud Survey:
70% of respondents say they or their customers were impacted by the Target breach, while 25% felt effects from Sally Beauty, and 24% from Neiman Marcus.
The direct impacts reported by respondents include:
60% reissued payment cards
50% lost time/resources to response
43% saw fraud incidents result from these breaches
48% believe the breached merchants ultimately should be held responsible for the compromises, while 28% say it's a shared blame because of the flawed payments system.
In this lively panel, recorded at the 2014 San Francisco Fraud Summit, hear three distinct points of view from a banking association's perspective; a Gartner researcher who wrote the book on PCI compliance; and a leading financial services vendor and anti-fraud expert. Together these thought-leaders point toward the future of secure payments.
ISMG's Fraud Summits are one-day events focused exclusively on the top fraud trends impacting organizations and the mitigation strategies to overcome those challenges.
At the law firm Duane Morris, Burton focuses on information security and cyberfraud issues as well as civil, criminal and appellate litigation. He advises and represents individuals and corporations regarding their rights and responsibilities in maintaining the security of digital information. His practice includes trade secret, trademark and patent litigation, with an emphasis on cybercrime and cybersecurity. Burton is a former assistant U.S. attorney who handled several pioneering high technology investigations and prosecutions, including the first prosecution in the nation for criminal copyright infringement of computer code.
Senior Staff Security Consultant, Office of the CISO, Google Cloud
Dr. Anton Chuvakin is now involved with security solution strategy at Google Cloud, where he arrived via Chronicle Security (an Alphabet company) acquisition in July 2019.Anton was, until recently, a Research Vice President and Distinguished Analyst at Gartner for Technical Professionals (GTP) Security and Risk Management Strategies team. He is a recognized security expert in the field of SIEM, log management and PCI DSS compliance. He is the Author of Security Warrior, PCI Compliance and Logging and Log Management, and he contributed to Know Your Enemy II, Information Security Management Handbook and others. Chuvakin has published dozens of papers on log management, SIEM, correlation, security data analysis, PCI DSS, honeypots, etc. His blog securitywarrior.org was one of the most popular in the industry. In addition, Chuvakin taught classes and presented at many security conferences across the world; he recently addressed audiences in the US, UK, Singapore, Spain, Russia and more.
Senior Counsel and Assistant VP, Consumer Bankers Association
Pommerehn is senior counsel and assistant vice president at the Consumer Bankers Association, the recognized voice on retail banking issues. Pommerehn's expertise covers a wide range of legal, legislative and regulatory issues associated with the areas of consumer financial services. He is the CBA lead for deposits and payment issues, as well as small business banking issues, and manages CBA's deposits and payments and small business banking committees. Prior to joining CBA in 2008, Pommerehn served as a defense attorney for the State of Maryland and as counsel to several non-profit financial services companies.
Principal Consultant, Urban Designs, LLC.
Urban is accomplished in data analytics and financial crime areas including cyber, payment fraud, money laundering, sanctions screening, FATCA, and regulatory reporting. He is the principal consultant at Urban Designs, LLC which enables financial institutions, insurance companies and the vendor community to create continuous improvements in financial crime detection, process and technology. Urban served as Product Portfolio Director for Fiserv's Financial Crime Solutions and as Senior Director of Product Strategy for FICO's Fraud Solutions. Mike co-invented Card Alert Services, an ATM network fraud and breach detection service which was acquired by HNC Software.