Mitigating Fraud in Online and Mobile Channels

Broadcast Date: Tuesday, February 17, 2015 from 12:00 pm to 2:00 pm (ET)

Overview:

Our panel of key thought leaders and practitioners will offer a discussion of the fundamentals as well as updates regarding the latest trends and significant issues surrounding key techniques and best practices for reducing the negative effects of fraud online and through the explosive mobile channel.

We’ll look at what is happening today and what online retailers and business owners can do to protect themselves from fraud losses and cybercriminals.

Key issues include that will be covered in this course are:

Trends in online fraud
How data breaches have made payment fraud and account takeover fraud today’s top concerns
Trends in mobile payments and fraud
Best practices for reducing fraud and risk
Offline changes that will negatively affect online merchants
How online merchants can actually increase sales with proper fraud management
Two case studies
A look at an industry-leading fraud solution

Agenda:

Don Bush, VP Marketing
Kount Inc.

David Nussenbaum, Senior Manager, Technology & Information Services
Ernst & Young LLP

Ecommerce Fraud
CNP fraud
How recent data breaches are effecting CNP fraud
Best practices for detecting CNP fraud
What can be done in house and what is best done with outside experts
Case study
Mobile Fraud
The different types of Mobile fraud
Review key findings in “Mobile Payments & Fraud” survey (Kount is completing this now)
How does NFC/Apple Pay change mobile fraud?
Best Practices with mobile fraud detection
Case study

Who Should Attend:

Chief Security Officers
Bank Security Officers
Finance Attorneys
Risk and Compliance Managers
Chief Finance Officers
IT Security Officers
Banking Lawyers & Consultants
Security Operations
Fraud Monitoring
Business Analysts
Fraud Analysts

Don Bush VP Marketing Kount Inc.

In his role as VP of Marketing Don works with online retailers, industry analysts, consultants, law enforcement and trade associations …

READ BIO

David Nussenbaum Senior Manager, Technology & Information Services Ernst & Young LLP

David is a subject matter advisor in bank payments and financial crime management. He has worked in the global banking and telco industries, where he focused on managing projects of leading-edge technology and analytics. David leads the development and delivery of technology solutions to support EY’s financial services-focused fraud control advisory practice.

Relevant Experience

Fraud management program: A major US provider of diverse financial services engaged David’s team in a detailed fraud risk assessment for multiple products and delivery channels. The team also created a three line of defense operating model, including policy, organization staffing, RACI, business context flows and implementation roadmap. in another project the team provided advised on implementation and configuration of the Actimize fraud monitoring solutions.

Risk and control framework for mobile payment products: This project’s objective was for EY to upgrade the global tier-1 bank’s global product launch controls framework to address the unique AML-compliance requirements of next generation/mobile payments products. The team documented control process flows and designed a new framework for managing AML risk in these new products.

Mandated AML, OFAC and sanctions compliance reporting: A foreign bank’s New York branch received an MRA notification for deficiencies in their transaction monitoring, sanctions and OFAC programs.

Credit card fraud risk and controls assessment: At a credit card issuer David’s team conducted a detailed fraud risk and controls assessment, focused on use of the TSYS fraud risk and disputes management platforms. The study identified numerous organizational, technical and procedural opportunities for improvement.

Payments operational risk self-assessment: A US tier-1 bank called upon David’s team to provide OCC-compliance observations and recommendations concerning the Bank’s operational risk control self-assessment work.

Regulation W automation: For a global tier-one bank David’s team documented business, functional and test requirements for a new compliance automation tool to pre-approve RegW 23A covered transactions.

Prior to EY, David led the fraud management businesses at ACI Worldwide and TransUnion. He also held management positions at FICO and JP Morgan.

David is a subject matter advisor in bank payments and financial crime management. He has worked in the global banking …

READ BIO

Course Level:
Intermediate

Advance Preparation:
Print and review course materials

Method of Presentation:
On-demand Webcast (CLE)

Prerequisite:
NONE

Course Code:
144924

NASBA Field of Study:
Specialized Knowledge and Applications

NY Category of CLE Credit:
Skills

Total Credits:
2.0 CLE
2.0 CPE (Not eligible for QAS (On-demand) CPE credits)

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About Kount Inc.

Boost Sales, Beat Fraud with Kount. Kount helps online businesses boost sales by reducing fraud and allowing them to accept more orders. Kount’s all-in-one, SaaS platform is designed for merchants operating in card-not-present environments and the payment service providers that support them, simplifying fraud detection and dramatically improving bottom line profitability. Companies using Kount can accept more orders from more people in more places than ever before.

Website: https://www.kount.com/

About Ernst & Young LLP

Improving business performance while managing risk is an increasingly complex business challenge. Whether your focus is on broad business transformation or, more specifically, on achieving growth or optimizing or protecting your business, having the right advisors on your side can make all the difference. Our 30,000 advisory professionals form one of the broadest global advisory networks of any professional organization, offering seasoned, multidisciplinary teams that work with our clients to deliver powerful and exceptional client service. We use proven, integrated methodologies to help you resolve your most challenging business problems, deliver a strong performance in complex market conditions and build sustainable stakeholder confidence for the longer term. We understand that you need services that are adapted to your industry issues, so we bring our broad sector experience and deep subject matter knowledge to bear in a proactive and objective way. Above all, we are committed to measuring the gains and identifying where your strategy and change initiatives are delivering the value your business needs.

Website: https://www.ey.com/