Cybersecurity & Risk Track

Sessions focus on emerging threats and ways to recognize risks to prevent loss, as well as provide the necessary surety for transactions.

Sponsored by  

 

A View From the FDIC

Hear from the FDIC about current operational, fraud and cybersecurity risks facing payments participants. Current and emerging payment systems activity are increasing the complexity of preventing, detecting and responding to fraud including business email compromise and account takeover. Faster payments increase the operational complexity involved in managing payments-related risks. Join the conversation on how assessments and procedures by payments participants can assist with mitigating the risks related to current and emerging payments system activity.

Questions to be answered during this session: 

  1. How can the FDIC assist with mitigating against business email compromise attacks?
  2. How is the FDIC working with payments participants to help advance faster payments?

 

Michael Bernardo
Chief, Cyber-Crime and Financial Crimes Section, FDIC

Deborah L. Shaw, AAP, CTP
Senior Technology Specialist Risk Management Supervision, FDIC


Ask the Experts About Business Email Compromise

Business Email Compromise (BEC) continues to be a serious threat to financial institutions and their customers. These attacks are conducted by sophisticated international fraud rings and have resulted in billions of dollars in losses around the globe. Attendees are encouraged to ask questions about BEC fraud such as, but certainly not limited to, who is behind them, who is targeted, how to engage and interact with law enforcement, how the fraudsters like to move money through the financial system, and what can be done to prevent them?    

Questions to be answered during this session:

  1. What is BEC fraud?
  2. What can be done to recover funds lost during a BEC attack?

 

Eric James Huber
Vice President of International and Strategic Initiatives, National White Collar Crime Center (NW3C)

Co-presenter to be announced


CYBER = Change Your Behavior, Educate & Respond

The threat landscape has changed significantly since the FFIEC issued its Supplemental Guidance on Internet Banking Authentication. As criminals become more creative and effective, we must take steps to enhance our cybersecurity programs. Some say cybersecurity is the illusion of preventing human mistakes by technical means. Join this interactive session as industry experts share proactive measures you should consider implementing to minimize the risk and impact of a breach. Speakers share the key components that should be included in a cybersecurity risk assessment and incident response plan, as well as best business practices for educating customers on cybersecurity.

Questions to be answered in this session:

  1. What are the key components of a cybersecurity incident response plan?
  2. What are suggested best business practices for educating customers on cybersecurity?

 

Russ Horn
President, CoNetrix

Pamela T. Rodriguez, AAP, CIA, CISA
President & CEO, ePayAdvisors, ePayResources

Timothy Thorson, AAP, CTP
SVP, Digital Payments, Regions Financial Corporation


Cybersecurity Your Way: Straight Talk About Risk & Security

Questions regarding cybersecurity should be answered, not left unspoken. Here is your chance to throw out those burning cybersecurity questions that relate to payments, regulation, your institution, as well as hiring, training, new laws, or general best practices. No topic is off limits while we share knowledge and learn together. A fun game of buzzword bingo will be played during the Quiz Bowl with at least one winner at the end.

Questions to be answered in this session:

  1. What will be the three things in cybersecurity that financial institutions need to concentrate on in the short term?
  2. What are three things that every FI can do to make themselves and their payments system more secure, and what are the major roadblocks to cybersecurity?

 

Anne Benigsen
FVP, Bankers' Bank of the West


Educate, Respond, Recover: ERR on the Side of Cybersecurity

Phishing attacks are on the rise and are more sophisticated than ever. The average cost of a phishing attack for a medium size company is $1.6 million and can potentially damage a company’s reputation. This session features subject matter experts who will bring awareness on phishing attacks as well as discuss strategies on how to prepare and defend against such vicious attacks on your organization. Speakers will use quizzes to generate an interactive discussion between the presenters and attendees. Don’t let your organization fall victim to a phishing attack, join us for this lively discussion.

Questions to be answered in this session:

  1. What makes an organization vulnerable to a phishing cyber attack?
  2. How can you recover from the attack?

 

Eileen Crochet, CBCP, CFE
Business Continuity Coordinator, Federal Reserve Bank of Atlanta

Ryan Ricks, CISSP
Information Security Team Lead, Federal Reserve Bank of Atlanta


Faster Payments Fraud: Exaggerated or Understated?

How will fraud and tactics to perpetrate fraud evolve with new faster payments developments and advancements? In this session, break through the hype as speakers provide data points and statistics on the prevalence of fraud with different faster payments solutions and predictions for the future. Speakers also discuss the measures organizations are taking to combat fraud in a faster payments environment and safeguard the users of faster payments solutions.

Questions to be answered during this session:

  1. How prevalent is fraud in different faster payments solutions, and what does the future look like?
  2. What products or services are available to organizations seeking to minimize fraud in a faster payments environment?

 

John Drechny
President, Merchant Advisory Group

Matthew R. Friend
Vice President, Head of Product Strategy & New Product Dev., Visa Inc.

Lee Kyriacou
Vice President, RTP Rules Enforcement, The Clearing House

Moderated by: Kim Ford
Executive Director, U.S. Faster Payments Council


Fighting the New Threat of Synthetic Identity Fraud

Synthetic identity fraud is increasing within the payments space as a method of laundering stolen funds through multiple financial institutions. Losses associated with synthetic IDs can be significant, and detecting them even more difficult as FIs must figure out how to conduct additional checks of new customers without alienating them or and complicating the onboarding process. Learn how using basic tools and research can help determine whether the ID is potentially synthetic.

Questions to be answered during this session:

  1. How and why are synthetic IDs created to open a bank account?
  2. What can institutions do to prevent unrecoverable losses associated with synthetic IDs?

 

Andrew Davies
VP Global Market Strategies, Financial Crime Risk Management, Fiserv

David E. Richardson
Senior Manager Fraud and ATM Operations, First National Bank of Omaha


Leveraging Partnerships to Combat IRS & Federal Payments Fraud

The U.S. Treasury Department's Bureau of the Fiscal Service is the single largest originator in the ACH Network with more than 1 billion payments delivered each year to recipients of tax refunds, social security and veterans benefits, and other federal payments. Hear how the federal government is strengthening its use of data analytics and long-standing relationships among federal agencies, law enforcement, and the financial community to prevent, detect and deter fraud in the federal payment system.    

Questions to be answered during this session:

  1. How has the Bureau of the Fiscal Service partnered with the IRS to combat fraudulent tax refunds?
  2. What successes has the Treasury's Office of the Inspector General had in prosecuting federal payment fraud?

 

Eric J. Inkrott
Chief Risk Officer, Green Dot Corporation

Kristen Landreth
Senior Analyst, Wage & Investment, Internal Revenue Service

Peter Lojacono
Special Agent, Treasury Office of Inspector General, U.S. Department of the Treasury

Moderated by: Kevin J. McDaniels
Program Manager, Bureau of the Fiscal Service, Philadelphia Financial Center


Mapping Fraud: The Road to Safer Payments

The lack of an industry standard for categorizing payment fraud losses has created difficulties in capturing and interpreting fraud trends. To help address these challenges, the Federal Reserve established the Fraud Definitions Work Group that includes an array of payments stakeholders. These experts have worked to craft a recommended Fraud Classification Model defining ACH, wire and check fraud. Hear how the Model adds value to the payments industry and how speakers have taken steps to adopt the framework into their organizations’ fraud prevention methods.  

Questions to be answered in this session:

  1. How was the Fraud Classification Model developed and what does the road to adoption look like?
  2. Where do industry experts see the value in this Fraud Classification Model for the entire payments industry?

 

Gasan Awad
Vice President of Fraud and Anti-Money Laundering, Fiserv

Chris Guard, CUCE, NCCO, AFC
Vice President, E-Services Compliance & Fraud, State Employees' Credit Union

Eric Tran-Le
VP, Product Management, Guardian Analytics

Moderated by: Michael Timoney
Vice President, Federal Reserve Bank of Boston


Synthetic Identity: Hello My Name Is

With innovative technology comes innovative threats to the U.S. payments system. The Federal Reserve has continued its role as a leader-catalyst with a multi-layered approach to tackling payment security challenges. Synthetic identity fraud is currently the fastest-growing type of financial crime in the United States, with $6 billion in losses in 2016 alone. During this session, discuss the causes of synthetic identity fraud, the potential gaps and challenges contributing this fraud, and how the industry could potentially mitigate this risk.    

Questions to be answered during this session:

  1. What is synthetic identity payments fraud and how does it differ from traditional types of fraud? 
  2. What are the causes and contributing factors of synthetic identity payments fraud and how is the industry responding?

 

Paul Benda
Senior Vice President for Risk and Cybersecurity Policy, American Bankers Association

Justin Davis
Fraud and BSA Manager, Digital Federal Credit Union

Joan Pappas
Enterprise Fraud Policy Executive, Bank of America

Moderated by: Jim Cunha
Senior Vice President, Treasury & Financial Services, Federal Reserve Bank of Boston


The Truth & Nothing But the Truth About Cybercrime

Cybercrime opens the door to payments fraud. Understanding the current risks and how to protect your institution through awareness and risk mitigation is crucial for your financial institution, business and consumers. This session features real examples of cybercrime as witnessed by law enforcement and risk operations staff. Learn how to recognize and prevent cyberrisk.    

Questions to be answered during this session: 

  1. What are some of the most prevalent cyber risks and how do they impact payments?
  2. What are some tips to reduce risk?

 

Kim A. Bruck, AAP
Origination Program Manager, Operations Processing, Desert Financial Credit Union

Jeanette A. Fox, AAP
Senior Director, Risk Investigations, ACH Network Risk Management, Nacha

Amanda Fritz
Special Agent, Federal Bureau of Investigation


Turning the Tables on Fraud

From the C-Suite to accounting practitioners, payment fraud is one of the gravest concerns in the industry today. The threat from fraud grows even more ominous as payment processes speed up with the increased adoption of real-time transactions. In this panel discussion, examine new innovations that combine fraud mitigation tools and machine-learning to improve end-to-end protections in the battle against fraud. Attendees take a closer look at API-driven real-time solutions with real-time updates that are well-suited for higher volume payments processes.    

Questions to be answered during this session: 

  1. How are fraud mitigation tools being successfully deployed within the payments workflow? 
  2. What are some real-world use cases that illustrate adoption of fraud mitigation tools across the industry?

 

Frank D'Amadeo
Assistant Treasurer Consolidated Edison NY, Con Edison

Miles Johnson
Manager, Treasurer, Liberty Mutual Insurance Company

Hector E. Sandoval, CTP
VP, Product Line Leader, Early Warning

Moderated by: Steven E. Bernstein
Executive Director, ACH, Global ACH Marketing & Product, J.P. Morgan