The Payments Fraud Working Committee goal is to create a comprehensive best practices strategy to mitigate fraud in payments, using a balanced approach considering all key stakeholders – issuers, merchants, acquirers, networks and third parties. Working Committee projects include benchmarking potential tools used to address fraud, monitoring fraud levels and collaborating with other organizations to understand fraud costs and providing best practices for fraud management.
The Payments Fraud Working Committee co-chairs are:
- Marie Jordan, Visa
- Tim Mansfield, Truist
- Sree Swaminathan, Fiserv
The Payments Fraud Working Committee has completed educational resources on best practices to mitigate Payments Fraud, including:
- CNP Fraud around the World white paper, reviewing the status of CNP fraud in countries that have migrated or are in the process of migrating to EMV
- Card-Not-Present (CNP) Fraud Mitigation Techniques, educational resource providing profiles on different CNP fraud mitigation techniques
- EMV 3-D Secure, primer on the EMV 3DS protocol, its features and the data and transaction process
- Fraud Mitigation Techniques, resource tool where users can sort through different profiles of fraud mitigation techniques
- Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud white paper, providing an educational resource on the best practices for authentication methods and fraud tools to secure the CNP channel as the U.S. migrates to chip technology.
- Near-Term Solutions to Address the Growing Threat of Card-Not-Present Fraud webinar providing highlights from the white paper on CNP fraud mitigation best practices.
- Payments Resource Brief: Account Takeover, the second installment in an ongoing series of short summaries and primers on trending topics related to fraud in the industry.
- Understanding the True Costs of Fraud white paper, reviewing use cases illustrating the hard and soft costs of fraud for consumers, merchants and issuers
Working Committee participation is open to all U.S. Payments Forum members. Contact Devon Rohrer, [email protected] , for information on Working Committee participation or projects.