Online Dialogue Dived Into Prevention, Detection Issues
In the wake of ongoing payments breaches, senior leaders at banking institutions are seeking out advice about effective fraud detection and prevention strategies.
2014 Fraud Summit Agenda Released - View Session Details >
Avivah Litan
That's why our Aug. 27 Twitter chat, #ISMGprotalk, with Avivah Litan, a financial fraud expert who's vice president of research at Gartner, proved so popular. The discussion was interactive, lively and covered a wide range of topics.
We had more than 55 unique Twitter handles participate in the discussion, and the reach of our dialogue spanned more than 3.6 million users.
I went into the discussion with a pre-written list of about 25 questions related to emerging fraud trends for Avivah. That was backup, just in case we didn't have participants show up. After all, we had allotted an hour for the chat, and that could have turned out to be one of the longest 60 minutes of our lives, if we didn't have anything to chat about.
I wound up asking only three of my questions. The rest of the time was spent replying to questions and tweets posted by attendees.
In addition to card fraud and PCI, participants wanted to know more about ATM crime trends, mobile payments and how biometrics could be used for stronger authentication.
Compliance Issues
On the PCI front, one participant tweeted: "PCI mitigates accidents & amateur attackers, but no auditor ever stopped organized crime."
Another tweeted, in response to Avivah's tweet about why PCI won't stop breaches: "Compliance is a floor, but too often treated as a ceiling!"
Here's what I learned during this chat: It's tough for bankers and CISOs to get their hands on the right information. So having easy access to an unbiased expert is quite valuable, indeed.
Don't worry if you missed this one. You can view a complete transcript. We have more #ISMGprotalks planned for the months to come. And we're giving our readers the chance to interact with the experts face-to-face at our fall Fraud Summits, the first of which is slated for Sept. 17 in Toronto.
I hope you'll join us in future Twitter chats and consider attending one of our summits. And if you had time to participate in the Aug. 27 chat, tell me what you thought. Post a comment below.