Are you TOO RISKY? Best Practices in Mitigating CNP Fraud Exposure
Target Audience
Risk, fraud, collections and treasury managers are the primary focus of this session. However, anyone looking to improve their fraud practices or lower risk of bad accounts will benefit from the session.
Presentation Technical Level
Intermediate - The next step beyond the basics. For attendees with some industry experience.
Summary of Topic
In a 2011 MRC survey, fraud managers reported that 41% of the time they use telephone number lookups as their primary risk assessment tool. Fraudsters, however, know phone based authentication and other fraud tools can be tricked. Current, TN lookups provide very little identifying information about the type of phone service, its user, spoofing attempts and other common fraud practices. In fact, this lack of data is most prevalent where risk of fraud is highest with wireless, prepaid wireless and VoIP devices. One of the increasing threats for fraud is through spoofing of phone numbers and Caller IDs to misrepresent identity with card issuers. Using telco data sourced directly from the carriers, issuers and merchants can use a layered authentication approach to detect and mitigate phone number spoofing and other threats; ensuring the integrity of mobile, landline, VoIP and cable telephone number reverse look-ups as a primary identity verification technique.
Fraud managers have had challenges with quality and coverage of telco data because, until now, privacy laws severely restricted access to phone company records. However, operators of the national telecom databases are adopting new approaches which maintain privacy laws, yet make it possible to verify identity using their authoritative data. SMEs from TNS will delve into this topic explaining new acceptable use policies as well as merchant case studies help you use mobile phone, VoIP and telco data that is sourced directly from the carrier to increase your verification practices.
Audience Takeaway
This session will provide attendees with:
- clear understanding of how fraudsters are using mobile phone and VoIP accounts to mask identity and/or spoof phone numbers and Caller IDs
- direction on how these fraudulent attempts can be mitigated with telco data that is sourced directly from the carriers databases
- ideas on how verification technology can pin-point mobile phone location
Submitters
Travis Lee, Transaction Network Services, Inc.
Presenters
Dan Lyman, Transaction Network Services, Inc.
Title
SVP, Global Products
Presenter Biography
In December 2006, Dan took on the role of Senior Vice President of the Global Products team within the Payments Division.
Formerly the Vice President of Sales Engineering & Product Management within the Telecommunications Services Division of TNS, Dan has been with the company since 2001, holding various positions in consultative solutions engineering and product strategy. Before joining TNS, Dan was the Director of Product Management at Fastcomm Communications (currently Encore Networks) in Dulles, VA.
As the SVP of Global Products, Dan leads a team of 20 plus staff responsible for working with the regional general managers within TNS’ Payments Division to develop and implement product and marketing strategies, equipping the sales teams with messaging, tools, pricing, and contracts, and providing consultative technical support and project management to pre and post-sales customer engagements. As part of his role, Dan enjoys the challenge and responsibility of working with the regional teams and other stakeholders to identify new market opportunities and influence how product development resources are allocated.
Dan received his bachelor’s degree in electrical engineering from Virginia Tech University.
He is based at TNS’ Headquarters in Reston, Virginia and resides in nearby Bristow with his wife and three children. When not at TNS, Dan enjoys watching his kids’ athletic activities, spending time with his family, golfing and travelling.
Travis Lee, Transaction Network Services, Inc.
Title
Presenter Biography
Travis Lee is the Director of Product Marketing For Transaction Network Services Payments Division in North America. He has worked in Product Marketing and Product Management roles with TNS, AOL, LexisNexis and other companies for 15 years.
His emphasis at TNS has been on guiding the product direction and market needs for the payments solutions at TNS which include eCommerce – Card Not Present and Card Present gateway services as well as payment communication security and services. As one of the leading eCommerce gateway providers in the world, he has been involved in understanding the problems merchants and providers face in combating fraud and mitigating risk.