New and Upcoming MRC On-Demand Sessions
Introducing MRC On-Demand: Spring Conference Content! In lieu of the MRC's cancelled spring 2020 conferences, MRC Vegas and MRC Paris, we are re-purposing presentation content as digital sessions available day or night at your convenience. Over the coming months, MRC members will have exclusive access to new content every Monday. Each presentation will also have a corresponding Q&A discussion hosted on the MRC Communities forums.
In order to access MRC On-Demand sessions, you will be required to sign in using your MRC login and password. If you do not have a login but your company is an MRC member, please contact your company's MRC Subscription Master or Administrator for an invitation to join your company's membership, or reach out to our Membership team for help.
Unsure if your company is a member? Just see our Membership Getting Started page for details.
Available MRC On-Demand Sessions
If Data is the New Oil, Should We Be Considering "Green" Alternatives?
Uri Arad -- Identiq
Your business needs to know which users and data are legitimate, and which are fraudulent or compromised. Yet you only see a small part of each user's online life. To validate their identities, you need access to information beyond your own data.
Until now that has meant working with data providers who aggregate the data and knowledge you and your peers give them. eCommerce, and the modern online economy, would not be where it is today without these data aggregators. Of course, industrialization would not have happened without burning fossil fuels. That does not mean we shouldn't revisit the choice of fuel we use. And the new oil, they say, is data.
Join us for a session of exploring the "green" alternatives to data providers and learn about provider-less approaches, the reason they can help validate new data points such as credit card ownership, and why they are gaining traction in the fraud prevention space.
RFIs and RFPs Do Not Drive the Best Outcomes
For fraud and payments, a competitive tender is a fairly standard practice across many industries. Companies enter into the process for many reasons, but fundamentally, it is a way the purchaser gets to spec out the market in a consistent way, with an aim to determine the best value for money.
It can be a costly decision to select the wrong supplier in any discipline. In our world, the consequences can mean a lack of agility to deal with changing business demands and fraud patterns, which in turn impact the bottom line detrimentally. It is also a competitive environment where vendors are determined to win every deal.
This presentation will look at the process from both a purchaser and vendor perspective. We will share experiences of running RFI and RFP processes, what has gone well and not so well, and highlight why the process does not always reflect what you are eventually going to buy. We will also discuss some of the consequence of not asking the right questions as well as explore how you can encourage good quality responses to an RFP and more easily assess them.
The Dark Web -- A Europol and Risk42 Collaborative Case Study
Tobias Wieloch -- European Cyber Crime Centre (EC3), Europol; Timo Grossman -- Risk42
The MRC signed a Memorandum of Understanding with Europol last year to affirm the important work being done between law enforcement agencies and the private sector. In this session we hear from Europol and Risk42 who have worked together to detect and prevent financial and payment crime. Learn from these industry experts on case studies, best practices, and how best to engage law enforcement when you see issues in your business.
Account Creation: That Unsuspected Source of Fraud
Jo Lawrence -- Mastercard; Rosemary O'Neill and Magali Vander Vorst -- NuData Security
Credit card cycling, rewards fraud, inventory denial -- they all cause harm at the end of the user journey but always start at account creation. Looking for automated attacks is not enough as bad actors are now hiring workers to manually do the dirty job for them (human farms). We will go over the attacks that stem from new accounts, how these human farms work, and what signs you can look to stop those accounts that are not so innocent.
Is Your Fridge Running? Then You'd Better Catch It: Fraud and the IOT
Steve Durney -- Ethoca
In a single home today, it is not uncommon to find more than a dozen devices connected to the Internet. As people connect more, it is only a matter of time before we see a huge increase in unauthorized purchased being made via these technologies. What does this mean for merchants? Will typical fraud tools provide protection? How will this impact your bottom line?
If you have asked yourself any of these questions, you are in luck: Ethoca's Steve Durney has answers. Building on the success from his session at MRC Seattle 2019, this forward-looking presentation from Ethoca's resident technology and strategy expert will reveal the results of his investigation into this growing trend, outline the potential pitfalls, and list the steps that merchants should take to ensure they are protected.
Enabling Faster Payments Without the Fraudsters
Parul Sharma -- LexisNexis Risk Solutions; Deborah Kinsella -- Pitney Bowes
Customer experience is more important than price. Consumers value a fast, convenient shopping experience, and eCommerce merchants who can deliver those experiences gain market share. As merchants have created defenses, fraudsters have increased the intensity and sophistication of attacks. How do we handle the threat of increased fraud and move faster than the fraudsters while delivering a compelling user experience?
In this session, LexisNexis Risk Solutions and Pitney Bowes will talk about the use of existing data, machine learning, and networks to block fraudsters and provide a great customer experience.
Insights Into Top Performers: Initial Results of the MRC 2020 Global Payment Survey
Joe Salerno -- CyberSource; Sam Anson -- Sony Interactive Entertainment; Trevor Nies -- Microsoft; Peter Shore -- Comcast
The 2020 MRC Global Payment Survey, developed in collaboration with CyberSource, shares the results and the key insights from the survey focusing on how merchants are approaching payment commerce, the challenges companies are facing, the best practices they employ, and the benefits they are experiencing. Other topics discussed in this session include a perspective of upcoming trends in the market related to payment commerce.
Protection Against Sim Swap Fraud
Clare Messenger -- JT Group
PSD2 regulations are sure to have a significant impact on the banking industry. Consumers will have a new sense of financial independence. This could mean more peer-to-peer payment systems, faster transactions, less reliance on physical cards, and more integration between financial apps and services.
Opening up access to a bank's information -- to a consumer's financial information -- is sure to attract the attention of criminals looking to exploit the system. How can banks and merchants ensure a customer is who they say they are and that a transaction is a valid one?
Mobile operators have a wealth of data that can assist in determining a customer's identity and checking to see if the mobile device has been compromised in any way. To date, the mobile operators have worked closely with the criminal enforcement teams to find fraudsters.
In the UK, the mobile operators are now providing network data checks in real time that helps to stop a fraudulent act happening in the first place. As fraudsters look for vulnerabilities in the consumer space accounts are being hacked via sim swap scams. The sim swap activity targets a weakness in the two-factor authentication and two-step verification in which the second factor or step is a text message (SMS) or call placed to a mobile telephone.
JT Global, as a Tier One Mobile Network Operator, is a trusted partner of the UK MNO and MVNO organisations. We can demonstrate how simple network and device checks at the time a transaction is taking place can help merchants and banks determine if an account is compromised. A simple check to see if a sim has been swapped and when provides an additional layer of intelligence that protects both the merchant and the consumer.
Subscriptions: Always On
James Tiltman -- Worldpay from FIS
From video games to B2B technology, TV to yoga lessons, consumers are committing to monthly payments in almost every sector. But is that because subscriptions are inherently attractive to consumers, or are they just a means to an end? And how does the structure of subscription-based products affect businesses and their day-to-day operations?
As one of the world's foremost payment experts, Worldpay has explored users' relationships with subscriptions, delved deeper into the growth of this model, and analyzed how brands can capitalize.
Adding Friction Doesn't Have to Hurt the Customer Experience
Stephanie Olsen -- Netflix
In today's world of advanced fraud techniques and focus on customer trust, it can be a tough conversation for Fraud and Abuse leaders to convince growth teams that adding friction can actually enhance the customer experience. Using friction to verify information or ensure bots are not scripting against your service can be essential to a robust fraud mitigation strategy; however, selection of the friction and use of data to support selection is imperative to making positive change across your company.
In this presentation, you will hear more about Netflix's journey and the close partnership the Customer Trust team and Growth teams have in the roll out of user challenges and fraud mitigation strategies. The presentation will include insights on how the company rolled out their first piece of friction and how leveraging data helps drive success in this space.
Attendees walk away from this session with ideas of how to present ideas to your Growth team and drive an effective and efficient partnership with a shared goal of increased trust and decreased fraud.
How Does the Impact of Your Role as a Payment Professional Compare to That of Your Peers?
Yuval Ziv -- SafeCharge; Louise Garratt -- easyJet; Peter Shore -- Comcast; Peter Sidenius -- Edgar, Dunn & Company
The payment manager role has evolved over the past 5 years. Such a role has become increasingly strategic and connected with other departmental functions. Today, payment managers are significant contributors to business growth. To understand the evolution of the merchants' payments function and its role in organizations, SafeCharge and Edgar, Dunn & Company teamed up to undertake a new survey, following the whitepaper 'The 7 Habits of Successful "New" Payments Leaders' presented in 2018.
To support this research, an online survey was conducted on merchants from across the globe, who provide a diversified range of goods and services (e.g., physical goods, travel, and digital goods/services). The survey identified how payment managers are actively implementing 'The 7 Habits of Successful "New" Payments Leaders' and the benefits of these habits.
During the session, presenters will share results from the survey, share their views, and illustrate the main aspects of the payment function role evolution, lending context to the latest trends driving the new generation of payment leaders.
The New Mastercard Excessive Fraud Merchant (EFM) Program and Changes to the Mastercard ECP (Excessive Chargeback Program)
Jonathan Trivelas -- Mastercard; Julie Fergerson -- Merchant Risk Council
Mastercard will be presenting how the new Excessive Fraud Merchant (EFM) program is being implemented and the upcoming changes to the Excessive Chargeback Program (ECP). Additionally, we will be discussing questions merchant members have been asking about these programs and the upcoming changes with Mastercard.
The Rising Threat of Deepfakes and the Data Sciences Needed to Defeat Them
Sanjay Gupta -- Mitek; Blake Hall -- ID.me
More than just viral videos of celebrities being made to say things, deepfake technologies are being used to produce nearly flawless fake identity documents and personal ID images. In this session, Mitek and ID.me will discuss the evolving threat posed by deepfakes as well as explain how the combination of AI and biometric verification technologies can be used to better catch and prevent this new method of identity fraud.
Why Fraudsters Love Your Contact Center's Authentication, and Customers Hate It
Dave Krasinski and Lance Hood -- Neustar
As chip credit cards make retail fraud more difficult, criminals are increasing their attacks on call centers. Meanwhile, contact centers employing knowledge-based authentication, making it easier than ever for criminals to socially engineer call center agents and take over customer accounts. Asking more challenge questions is just asking for trouble.
Instead of callers' personal information -- which is freely available on the dark web -- contact center leaders need an "unhackable" and layered approach to identify and authenticate callers. Forward-thinking contact centers are finding success using authoritative data that link users' accounts with their calling devices. The result is better protection for customer accounts and improved customer experience.
MRC On-Demand Sessions coming soon
50 Billion Connected Devices in 2020 -- What Does This Mean for Payments?
There is unprecedented growth in the Internet of Things (IoT). Gartner calculates that around 8.4 billion IoT devices were in use in 2017, up 31 percent from 2016, and this will likely reach 20.4 billion devices by 2020. This staggering growth is not slowing down.
What does this mean for payments? Will we pay for petrol directly without leaving our cars? Will retail go down the path of Amazon Go? Will we ever need to carry cash again? How are security and payments affected by IoT?
This session will highlight the good IoT can bring, especially in developing nations. The presentation will also explore the foundation of IoT, where it is today, and where it is predicted to go. Throughout this journey the talk will explore where and how payments have enhanced or slowed us down.
AWS Analytics Enables Fraud Prevention for Sony's PlayStation
Sony Interactive Entertainment
Sony Interactive Entertainment built their EVE Fraud System as a big data platform to aggregate transactional activity of users, approving $40 million in additional purchases per month with no increase in declines or chargebacks from banks.
In this session, learn how Sony used Amazon Kinesis Data Analytics, Amazon Kinesis Data Firehose, AWS Lambda, AWS Glue, Amazon Simple Storage Service (S3), and Amazon DynamoDB to generate aggregations and retrieve them in a single purchase transaction in less than 180 milliseconds.
Components of a Payments Orchestration Layer
Using the lessons learned from merchants with sophisticated and well-funded platforms, it is possible for any enterprise merchant to realize similar benefits. Merchants can ensure their requirements are met with intelligent architecture design and a good understanding of a payments platform's components.
This session identifies what works well among the sophisticated merchant platforms and defines the necessary requirements for each of the platform components. The discussion is not technical; it is designed to assist business users in articulating their requirements to vendors and their own engineering teams. The findings shared are intended for a provider-agnostic environment.
Enabling Simpler and Safer Commerce with FIDO Authentication
FIDO, Mastercard, eBay, and Google
As shopping is now increasingly online, mobile, and connected via IoT, the classic challenge arises: how can merchants provide the highest levels of security in the authentication and payment experience without causing added friction? Merchants have had to live with tradeoffs, until now: open standards from the FIDO Alliance are leading the way towards more secure and convenient authentication and payments experiences on the web across platforms.
In this panel, executives from major eCommerce, platform, and payment providers will discuss FIDO's standards-based, interoperable authentication capabilities that reduce the use of annoying (and revenue-hindering) passwords and significantly streamline the checkout experience. Attendees will learn the basics of FIDO, how it can be integrated into eCommerce experiences, and the fit with other standards in the space. The end goal? Making the dream of secure and seamless checkout a reality.
The Economics of Cybercrime: Understanding Fraudsters' Motivation
Arkose Labs and Expedia
The global economy has never been more connected, with the ability to transact freely anywhere, anytime, across borders, and across multiple currencies -- and naturally cybercrime has followed suit. Interwoven into the global cybercrime phenomenon, however, is the huge economic disparity between countries which are now connected by the digital economy.
This session will provide a deeper understanding of the social and economic realities that drive certain regions to become hotbeds of fraud and cybercrime, providing new insight into the correlation between regional economic performance and attack levels. Global economic inequality is manifesting itself in cybercrime, as individuals facing poor employment rates, low wages, and limited access to higher education increasingly turn to fraud. Fraudsters operate globally, with the support of an intricate set of support functions that has sprung up across the world. By targeting businesses and consumers in regions with stronger currencies, the potential gains are high, while barriers to entry remain low.
The presenters will use key economic indicators alongside fraud data from the Arkose Labs network to shed new light on the motivation behind the global fraud ecosystem. Understand how regional differences in economic incentive plays out in real world attacks, and how this affects fraudsters' appetites to persevere with attacks once faced with step-up challenges.
The Rise of Open Banking -- the Saga Continues...
Payments Reg Expert
The session will cover:
-The EU experience of Open Banking (including PSD2/RTS/GRPR) with focus on the UK experience
-How Open Banking is driving payments innovation, financial inclusion and new payment methods for merchants
-The move to Open Finance and Open Data
-The importance of customer experience and what is still outstanding
-The up to date position on the status of the RTS and SCA implementation
-What is happening around the globe with the different approaches taken in different jurisdictions
Trials and Tribulations of False Positives
A tale of one merchant's experience to reduce false positives. In early 2018 Ding configured their platform to randomly select a percentage of declined payments from their fraud engine due to suspected fraud. This way they could accurately track said suspected payments to see if they received alerts of fraud. This is Ding's story.