Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud Webinar
As the U.S. migrates to EMV chip technology to secure the card-present channel and reduce in-store counterfeit card fraud, it is critical to simultaneously secure the card-not-present (CNP) channel. The EMV Migration Forum CNP Fraud Working Committee hosted a webinar on the best practices for authentication methods and fraud tools to provide this necessary protection of the CNP channel.
This webinar was based on the recently-published CNP Fraud Working Committee white paper and provides information to industry stakeholders on current tools and best practices for securing the CNP channel which can be implemented in parallel with the U.S. EMV migration. Additional techniques that are currently in development and scheduled to become available in late 2016 and beyond are not covered.
The webinar covered the following topics:
- CNP fraud in an EMV world, including CNP fraud comparisons in countries that implemented EMV
- Methodology for the evaluation and analysis of authentication methods and fraud tools
- Authentication methods: a review of the authentication discussed in the white paper
- Fraud prevention tools: a review of the fraud tool discussed in the white paper
- Tokenization: messaging protocol that enables real-time cardholder authentication during an online transaction
- 3-D Secure: technique which replaces card data with surrogate values (i.e., “tokens”) that are unusable by outsiders and have no value outside of a specific merchant or acceptance channel
Webinar speakers were: Randy Vanderhoof, EMV Migration Forum; Francine Dubois, NagraID Security; Rodman Reef, Reef Karson Consulting; and Neeraj Gupta, Vantiv.
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