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Combating Commercial Payments Fraud
An FDIC Symposium
Tuesday, May 11, 2010


Program Agenda
Printable - PDF (PDF Help)

8:00– 8:30 Registration/Continental Breakfast
8:30– 8:35 Welcome Address - PDF
Sandra L. Thompson, Director
FDIC Division of Supervision and Consumer Protection (DSC)
8:35– 9:10 Morning Keynote Address
Howard A. Schmidt, National Cyber Security Coordinator
The White House
9:10 - 9:15 Symposium Host/Moderator Introduction
Michael B. Benardo, Chief
FDIC Cyber Fraud and Financial Crimes Section
9:15 - 10:15 Current Landscape / Emerging Threats
As criminals become increasingly sophisticated, the number and breadth of fraud schemes directed towards commercial payments have increased. To set the groundwork for this forum, a panel of law enforcement and payments experts will: examine some of the recent cases of commercial payments fraud; provide perspectives on how payments fraud is evolving; and discuss what it means for banks and business.
    Patrick Carney, Chief (Acting)
Federal Bureau of Investigation (FBI) – Cyber Criminal Section
    Bryan Nash, Senior Vice President/CIO McHenry Savings Bank - McHenry, Illinois
    Dennis Simmons, President/CEO
SWACHA – The Electronic Payments Resource
Presentation - PDF (784k)
    Samuel A. Vallandingham, CIO/Vice President
First State Bank - Barboursville, West Virginia
    Moderator:
Michael Kaiser, Executive Director
National Cyber Security Alliance
10:15 – 10:30 Break
10:30 – 11:30 Costs of Commercial Payments Fraud - Who Pays?
Unlike consumer fraud, the overwhelming cost of commercial payments fraud is borne by businesses; however, banks can also be subject to financial loss and risk losing a valuable commodity -- business customers. This panel will explore the legal framework for the allocation of costs associated with commercial payment fraud as well as provide business and bank perspectives on these costs/losses.
    Joel D. Feinberg, Partner
Sidley Austin, LLC
    Thomas A. Fox, Partner
Schwartz & Ballen, LLC
Presentation - PDF
    Dan Salsburg, Assistant Director
Federal Trade Commission, Division of Marketing Practices
    Moderator:
Sara D. Lipscomb, General Counsel
U.S. Small Business Administration
11:30 – 1:00pm Luncheon / Keynote
Fatal System Error - The New Crime Lords Who are Bringing Down the Internet
Joseph Menn, Author/Journalist
1:00 – 2:00 Challenges in Business Banking Authentication
With criminals utilizing increasingly sophisticated techniques to obtain compromised credentials to access commercial business accounts, existing techniques for authentication may be rendered ineffective. This panel will examine the ongoing battle to provide adequate authentication for online consumer and commercial banking applications that protect payment transactions and satisfy regulatory expectations.
    Dr. Mark Bregman, Chief Technology Officer
Symantec Corporation
Presentation - PDF (1.0m)
    John Walp, Admin. VP / Corporate Information Security Officer
M&T Bank
Presentation - PDF (291k)
    George Tubin, Senior Analyst
Tower Group
Presentation - PDF
    Murray Walton, Senior Vice President & Chief Risk Officer
FiServ
Presentation - PDF (291k)
    Moderator:
Jeff Kopchik, Senior Policy Analyst
FDIC Technology Supervision Branch
2:00 – 2:15 Break
2:15 – 2:45 Afternoon Keynote Speaker
Understanding the Challenges to Small-Mid Sized Business - PDF
(432k)
Stephen A. Cox, President/CEO
National Council of Better Business Bureaus
2:45 – 3:45 Alternatives for Managing Commercial Payments Risk
While online criminals are leveraging all aspects of technology to commit payments fraud, a disciplined approach to utilizing operational controls can mitigate the risk posed by sophisticated criminal schemes. A rigorous approach to managing payments activity (e.g., dual-control measures, daily reconciliation, etc.) and the use of available technology (e.g., positive-pay, debit blocks, etc.) serve as the foundation of an effective defense to protect the interests of both banks and their business customers. This panel will examine the critical partnership between banks and businesses needed to ensure that best practices/technology for managing payments risk are utilized.
    Larry Clinton, President/CEO
Internet Security Alliance
Presentation - PDF
    David Bellinger, CTP, Director – Payments
Association for Financial Professionals
Presentation - PDF (1.5m)
    Deborah Shaw , Managing Director - Network Enforcement & Risk Management
NACHA
Presentation - PDF
    Moderator:
Richard Oliver, Executive Vice President / Director
Federal Reserve Bank of Atlanta – Retail Payments Risk Forum
Presentation - PDF
3:45 – 4:00 Closing Remarks
Michael L. Jackson, Associate Director
FDIC Technology Supervision Branch
  FS-ISAC Account Take-Over Task Force Announcement (Not on Original Program)
Errol Weiss, Citigroup
Presentation - PDF (489k)
4:00 - 5:00 Closing Reception

 






Last Updated 11/16/2011 communications@fdic.gov