Panel to Focus on Similarities and Differences between Using Fraud Prevention Methods and Authentication Methods for Payments Transactions
LOS ALTOS, CA. – September 15, 2010 – ThreatMetrix™, the fastest-growing provider of fraud prevention solutions that do not require personally identifiable information (PII), is participating on a panel from 1:15 – 2:15 p.m. ET, Wednesday, September 29 on “Fraudulent Transaction Detection Systems Versus Authentication” at NACHA’s annual MEGA Council Meeting at the Renaissance Harborplace Hotel in Baltimore, Maryland.
NACHA’s Council MEGA Meeting offers a unique opportunity for Industry Council (CEBP, ECC and Internet Council) members to gather together in one location to network, learn and share valuable industry information. Meeting participants can attend any session that fits their area of interest, thereby customizing the experience and providing the highest benefit.
WHO: Moderator: Devon Marsh, senior vice president/treasury management risk, Wells Fargo Bank; Panelists: Alisdair Faulkner, chief products officer, ThreatMetrix; Peter Tapling, president and CEO, Authentify, Inc.; Shirley Inscoe, director of financial services, Memento Security.
WHAT: In an age of identity theft and corporate account takeover, it is no longer sufficient to authenticate a person with single control over creation of a transaction. It is prudent to authenticate the transaction as well. If we had universal, reliable fraudulent transaction detection capabilities, would we need to authenticate the people who initiate transactions at all? Could robust fraud detection render identity theft obsolete? If so, the business case for achieving robust fraudulent transaction detection – in essence, the authentication of transactions rather than people – may be more tolerable than chasing the moving target of commercially reasonable methods of authenticating people. Panelists in this session discuss the respective roles of fraudulent transaction detection and authentication, and the outlook for each.
WHEN: 1:15 – 2:15 p.m. ET, Wednesday, September 29
WHERE: Renaissance Harborplace Hotel, Baltimore, Maryland
To view a web-based ThreatMetrix Fraud Network demo, go to: http://info.threatmetrix.com/ThreatMetrix Product-Tour
To view a video on the ThreatMetrix Fraud Network, visit: http://threatmetrix.com/resource-center/videos-and-demos/introducing-the-threatmetrix-fraud-network/
To read a whitepaper on the ThreatMetrix Fraud Network, visit: http://info.threatmetrix.com/ThreatMetrix-fraud-network.html
About NACHA — The Electronic Payments Association
NACHA supports the growth of the ACH Network by managing its development, administration, and governance. The ACH Network facilitates global commerce by serving as a safe, efficient, ubiquitous, and high-quality electronic payment system. NACHA represents nearly 11,000 financial institutions through 18 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholder organizations to encourage the efficient utilization of the ACH Network and develop new ways to use the Network to benefit its diverse set of participants. To learn more, visit www.nacha.org, www.electronicpayments.org.
ThreatMetrix helps companies stop web fraud and enable e-commerce in real-time so they can significantly reduce online fraud, acquire more customers faster, reduce costs, and increase customer satisfaction. The ThreatMetrix Fraud Network helps online businesses verify new accounts, authorize payments and transactions and authenticate user logins in real-time without relying on personally identifiable information (PII). ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix device profiling goes beyond browser fingerprinting to identify the device, bypass proxies and detect the use of botnets. ThreatMetrix’ simple and cost-effective software-as-a-service (SaaS) approach to implementation enables companies to get results in hours or days, rather than weeks or months. The company serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including social networks (dating, gaming), financial services, e-commerce, affiliate marketing and payments. For more information, visit www.threatmetrix.com or call 1-650-625-1451.
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