Card Fraud: Surviving the Current Economic Environment

Mass compromises of cardholder data, cross-border counterfeit attacks, and card-not-present fraud continue to challenge card issuers. As credit card issuers introduce new types of payment options such as prepaid, secure, and travel money credit cards, the challenge of managing card fraud and preventing diminished consumer confidence increases in complexity.

In today’s economy, consumer usage trends are changing dramatically and fraudsters are profiting by developing new and sophisticated schemes to stay one step ahead. Collectively, these scenarios pose a great challenge to financial institutions, but they also present great opportunity. Now, more than ever, it is critical for institutions to evaluate their current fraud prevention tactics and develop strategies to improve protection measures and increase customer satisfaction.

Highlights include:

• The latest operational challenges and threats associated with card fraud
• Strategies to combat fraud attacks resulting from mass data compromises
• Improving customer satisfaction while decreasing risk
• Case Study: Using real-time fraud strategies at a transactional level
• Case Study: Implementing debit card protection as part of an enterprise fraud strategy

Presenter:
Jasbir Anand
Fraud Product Manager

Jasbir Anand is an expert in the field of fraud risk management, with in-depth knowledge of payment and card fraud. He has advised a wide range of financial institutions on risk management in multiple arenas, including card, retail, e-commerce, employee, and identity fraud, as well as first party fraud/abuse reduction. Mr. Anand is the former Director of Fraud Product Business Development at Fair Isaac and also spent several years as a fraud consultant.