8:00– 8:30 |
Continental Breakfast |
8:30– 8:35 |
Welcome Address
Sandra Thompson, Director
FDIC, Division of Supervision and Consumer Protection (DSC) |
8:35– 9:10 |
Morning Keynote
Howard A. Schmidt, National Cyber Security Coordinator (Pending Confirmation)
The White House |
9:10 - 9:15 |
Symposium Host/Moderator Introduction |
9:15 - 10:15 |
Panel 1: 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. |
10:15 – 10:30 |
Break |
10:30 – 11:30 |
Panel 2: 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. |
11:30 – 1:00pm |
Luncheon / Keynote Speaker – Perspectives on the Evolving
Nature of Cyber-Related Crime
Joseph Menn, Author/Journalist (Financial Times)
"Fatal System Error, The Hunt for the New Crime Lords Who are Bringing Down
the Internet" |
1:00 – 2:00 |
Panel 3: 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. |
2:00 – 2:15 |
Break |
2:15 – 2:45 |
Afternoon Keynote Speaker – Understanding the Challenges
to Small-Mid Sized Business
Stephen A. Cox, President/CEO
National Council of Better Business Bureaus |
2:45 – 3:45 |
Panel 4: 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. |
3:45 – 4:00 |
Symposium Host/Moderator Wrap-Up |
4:00 - 5:00 |
Closing Reception |