Visa to Bring Together Business Leaders to Address Security in the Payments Industry

“Cardholder Security in the New Electronic Payments Age,” will be the title of a ground-breaking summit of security-minded professionals being hosted by Visa USA on October 5, 2005 in Washington, D.C. Assuring the continued security of the U.S. payments industry and the protection of those who rely on it will be major topics of the day’s discussions.

Although Visa’s fraud rate has fallen to historic low levels, Steve Ruwe, executive vice president, operations and risk management, Visa USA, says this summit provides an opportunity for achieving even greater, long-term security through coordinated action.

“As today’s criminals become more sophisticated, unpredictable and complex, all players in the global payments system must be unified and resolute in protecting cardholder information,” Ruwe said. “All of us at Visa, member financial institutions, merchants, government and law enforcement have a shared responsibility for stopping fraud. The key is to take a holistic approach to security issues, and work together to find even more ways to protect consumers and deter criminals, many of whom reside outside the United States. This summit intends to bring together key players from various industries, law enforcement, consumer protection organizations and government to address the security threats of today and tomorrow,” Ruwe said.

The summit, which will be attended by a select group of Visa Member financial institutions, merchants, policy makers, security professionals, analysts, and consumer advocates, will cover a wide range of current issues, including:

• Reducing the threat of data compromises;
• Protecting customer information;
• Fighting fraud and ID Theft; and,
• Helping ID theft victims

Delivering the morning keynote address will be a man with impeccable credentials in fighting crime and ensuring public safety: Hon. Rudolph Giuliani, Chairman and Chief Executive Officer, Giuliani Partners, LLC, and former Mayor of the City of New York. Additionally, the agenda will include speeches by Visa President and CEO, John Coghlan as well as senior-level law enforcement officials.

In addition, several experts will participate in four separate panel discussions, including representatives from the nations’ leading banks and e- commerce merchants. Leading consumer protection organizations, such as the Council of Better Business Bureaus, will join government and industry analysts to address major issues surrounding identity theft.

“Over the years, Visa has deployed multiple layers of security to ensure that all of our stakeholders are protected by the latest and most advanced anti-fraud technologies, products and services,” Ruwe said. “Equally important is our ongoing commitment to education and working with key players from financial institutions, consumer advocacy groups, the government as well as the merchant community to ensure maximum cooperation in the fight against fraud. To us, this means listening as much as talking, and we’re proud to bring this distinguished group together to advance this dialogue and work harder to keep fraud low and the payments system secure.”