International Fraud Migration - Changing Technologies, Patterns and Boundaries
While there are fraud patterns that are specific to the UK, Europe and the U.S. there is also a significant migration of fraud globally and across borders. As the U.S. becomes increasingly EMV compliant, for instance, fraud will migrate, not only to e-commerce, card-not-present and channels, but also to other parts of the world, where EMV technology is more dated and implementations less secure. In this session, you will learn why European banks and merchants should be bracing for upticks in card fraud, as more U.S. merchants make investments in complementary technologies, such as tokenization and encryption, in tandem with EMV. As this happens, fraud is expected to migrate overseas, to markets where EMV was not rolled out with some of these latest and greatest technologies. Organizations need to know these trends and also that regulations are coming that are going to change the way security is handled. You will learn about the impact of various new regulations and policy changes, including:
- Changes at the European Central Bank, specifically EU banking authorities securing internet transactions that link to CNP fraud
- The EU Data Protection Directive and Directive on Payment Services (PSD) and the massive impact this will have on organizations and their data security policies
- That with the introduction of breach notification, the number of reported breaches will skyrocket. Organizations that could hide are now going to be front and center
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