Emerging Risks in Emerging Payments - November 15-16, 2010

The Federal Reserve Bank of Atlanta Retail Payments Risk Forum
November 15–16, 2010
1000 Peachtree Street, N.E.
Atlanta, Georgia 30309
3rd Floor Conference Center


Monday, November 15, 2010
8:30 Welcome and introductions
9:00 Opening address
Richard Oliver, Executive Vice President, Federal Reserve Bank of Atlanta
10:30 Panel 1: Emerging Issues in the Card Space
As chip-and-pin technology is deployed in Europe, Canada, and elsewhere, will the U.S. reliance on magstripe cards result in fraudsters migrating toward the path of least resistance at our borders? Will innovations in prepaid cards raise issues regarding money laundering and elder fraud? Our panelists will explore these and other issues related to emerging technologies and payment cards.

Susan Smith, Senior Trial Attorney, Department of Justice [Presentation] PDF logo
Jack Jania, Vice President and General Manager of Secure Transactions, Gemalto North America [Presentation] PDF logo

Bob Hunt, Assistant Vice President and Director, Payments Card Center, Federal Reserve Bank of Philadelphia
1:15 p.m. Panel 2: Mobile Payments
Mobile is enabling financial commerce in various forms, including mobile banking and mobile payments. Although there is consumer interest in these developments, the United States has lagged behind both Asia and Africa in embracing mobile payments technology. Our panelists will discuss best practices for mobile financial services, efforts currently underway to establish uniform standards for the mobile ecosystem, and the impact mobile solutions can have on payments risk and fraud.

Barry McCarthy, President, Mobile Solutions, First Data Corporation
Kate Kingberger, Director, Wireless Internet Development, CTIA—The Wireless Association [Presentation] PDF logo

Marianne Crowe, Vice President, Federal Reserve Bank of Boston [Presentation] PDF logo
3:15 Panel 3: Person-to-Person (P2P) Payments
The business model for person-to-person (P2P) payments has evolved from cash and checks to electronic payment alternatives. Whether through online or mobile, consumers can initiate direct money transfers to another person through a bank, nonbank agency or credit card. The panelists will discuss the risk profiles of these different P2P business models.

David Whitaker, Senior Company Counsel, Strategy and Operational Risk Group, Wells Fargo, N.A. [Presentation] PDF logo
Beth Robertson, Director of Payments Research, Javelin Strategy and Research [Presentation] PDF logo

Claudia Swendseid, Senior Vice President, Federal Reserve Bank of Minneapolis
Tuesday, November 16, 2010
8:30 Panel 4: Global Payments
The increasing demand for cross-border payments, including the growing remittance market, presents unique challenges for consumers and payments providers because of the vastly different law enforcement and regulatory structures that govern payments in the United States compared to other countries. Emerging technologies are enabling new cross-border payment channels, some of which may fall outside of the existing regulatory structures. Our panelists will discuss these issues and how law enforcement and payments providers can work together to navigate the regulatory landscape and ensure the security of new payment channels.

Michael McKeown, Supervisory Special Agent, Cyber Initiative and Resource Fusion Unit, Federal Bureau of Investigation
Kai Schmitz, Executive Vice President and COO, Microfinance International Corporation [Presentation] PDF logo

Richard Fraher, Vice President and Counsel to the Retail Payments Office, Federal Reserve Bank of Atlanta
10:30 Panel 5: Social Networks and Payments
The popularity of social networking sites has introduced a new gateway for cybercriminals to target their phishing and malware attacks. Additionally, many social networks are offering payment facilities. The panelists will discuss the rapidly evolving social networks and their impact on payments risks.

Erin McCune, Partner, Glenbrook Partners
Michael McKeown, Supervisory Special Agent, Cyber Initiative and Resource Fusion Unit, Federal Bureau of Investigation

George Warfel, Consulting Director, Global Payments Solutions, Fiserv
Noon Closing and wrap-up