2019 Education Preview

Know Your Frenemy: Identifying, Deterring, and Fighting Friendly Fraudsters

Friendly fraudsters are persistent pests for e-commerce companies everywhere, adapting to and exploiting the dispute processes of both merchants and credit card companies. By empowering your customer-facing teams with social engineering training and a "security first" mindset, you can build a front line of defense against these "frenemies." These investigative strategies can be leveraged throughout the process, to prevent loss to buyers who place and then dispute orders and even to convert friendly fraudsters back into good customers and maintain your company's bottom line. In this session you will learn:

  • How to identify friendly fraudsters and develop preventative "trust-your-gut" strategies for your customer-facing teams, including training on social engineering and elicitation techniques.
  • Real-world examples that model effective techniques for responding to friendly fraud disputes, turning the friendly fraudsters’ techniques back on them.
  • Applying the above two objectives to a deep dive on best practices for responding to specific friendly fraud claims: “subscription canceled” and “item not received.”

Presenter: Brittany Allen, Policy Manager, letgo

Workshop: Developing a Global Strategy for Your E-Business

To many, the benefits of leveraging digital commerce to open international markets for your business are clear. Understanding how to accelerate your global journey is not as simple. In this hour-long interactive workshop, participants will exchange ideas that

  • Learn how the payments value chain is differs in various global regions and how to leverage those differences in cross-border e-commerce.
  • Understand the essentials of money management flow when your revenue originates abroad.
  • Hear several meaningful case studies that will inform your global strategy.

Presented by: Global Retail Insights Network

Payment and Fraud Challenges Facing E-Commerce Merchants in Latin America

As e-commerce and mobile applications grow in Latin America, companies are facing in challenges providing the same payment experience to customers in different countries. For U.S. companies, the landscape can be confusing, changing from one market to another. In some countries, for example, the payment networks support neither Authorization/Capture nor partial refunds while others do. At the same time credit card fraud is rising and the chargebacks are unquestionably a thorn in merchants’ side. In this session hear the co-founder of one of the region’s fastest growing online businesses discuss

  • How to deal with fraud in Latin America
  • How to develop new payment methods using old bank infrastructure
  • How to create new payment flows when only a few methods are available

Presenter: Juan Pablo Ortega, Co-Founder, Rappi.com

Changes in U.S. Payment Fraud: A Journey through the Federal Reserve Payments Study

The Federal Reserve Payments Study (FRPS) is a project that has tracked and reported aggregate estimates of payment volumes, payments fraud, and related information in the United States since 2002. Beginning in 2012, the FRPS began collecting fraud data for the various payment types covered in the study including checks, ACH (debit and credit) and credit, debit and prepaid payment cards. It is the only official, comprehensive report from the U.S. government examining payments and fraud. Attendees at this session will learn about how those payment types and changed over the years. A closer examination of the fraud taking place with the types of payments, particularly with payment cards, will shed some critical information on how merchants and acquirers can better prepare themselves to meet these threats in CNP environments.

Presenter: David Lott, Retail Payments Risk Expert, Federal Reserve Bank of Atlanta

Trends, Training, Team Building and Techniques: An Hour with the Original Internet Godfather

Join Brett Johnson, reformed online fraud pioneer and former member of U.S. Most Wanted list, in a highly interactive session. Brett will showcase the latest criminal trends and exploits as a way to drive home the importance of proper security training, team building, information sharing, and the necessity of using a layered security approach to prevent fraud. In this session Brett will:

  • Present real-time examples of the latest techniques criminals are using to defraud e- and m-commerce businesses.
  • Share his thoughts on how information sharing is the linchpin of effective antifraud efforts
  • Take any and all questions, so expect a lively and fluid discussion and expect the unexpected!

Presenter: Brett Johnson, Cybercrime, Cybersecurity and Identity Theft Consultant

Optimizing Your Cross-Border Setup

While many companies recognize the opportunity to grow revenue by selling cross-border, most of them see massive declines as they begin their global journey. Avoid common mistakes and learn best practices around fraud, credit card processing, alternative payments and your global checkout. In this session you will learn to:

  • Understand how global fraud differs from domestic fraud and how simple changes to your rule set can make a massive difference to your business.
  • Be a hero at work and walk away with the same knowledge the big players use to navigate the global credit card processing ecosystem.
  • Understand alternative payments and how most of them are completely useless to your business.

Presenter: Carl Miller, Managing Director, Global Retail Insights Network

Setting Standards to Prevent, Detect and Respond to CNP Fraud

Responding to a clear lack of comprehensive guidance for merchants, processors, issuers, networks, and others in the CNP payments and fraud industry, the X9A Financial Industry Standards Committee published a Technical Report in July, 2018. The report helps all CNP industry stakeholders understand the risks presented by criminal activity to more effectively prevent, detect, and manage card-not-present fraud. Members of the X9A workgroup including the Federal Reserve, merchants and card networks will present and discuss the key elements of this effort allowing attendees to better understand:

  • Types of CNP fraud attacks and how to protect against data theft;
  • How to detect and prevent CNP fraud using mitigation tools and processes
  • How to respond and implement an adaptive CNP fraud mitigation model.

Moderator: Susan Pandy, Director, Payment Strategies, Federal Reserve Bank of Boston
Panelists: Andrew McGloin, Senior Director of North America Risk, Visa; TBA, Best Buy; Others TBA

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