Payments security is a forefront issue today with incessant cyber-attacks, large-scale data breaches that expose millions of consumers' sensitive information and billions of dollars of fraudulent payment transactions.

This conference brought together payments system participants, academics and policymakers for an exchange of thoughts and views on payments security and fraud as matters of importance for preserving public confidence in worldwide retail payment systems. Some of the questions addressed included: What economic principles underlie the determinants of payments security? What options are available to better align incentives of payments stakeholders? How best are resources allocated between preventing, detecting and responding to payments security threats? How should the changing threat landscape affect the ways in which sensitive information is secured and used for retail payments? What roles should private players and public authorities play to solve the puzzle of payments security? 

View presentations and videos from the event below.

Esther L. George
President and Chief Executive Officer
Federal Reserve Bank of Kansas City


PDFConference Summary
Terri Bradford
Payments Research Specialist
Federal Reserve Bank of Kansas City

PDFOpening Remarks
Kelly J. Dubbert
First Vice President and Chief Operating Officer
Federal Reserve Bank of Kansas City

PDFOpening Keynote: Building a Safer Payment System Through Collective Action
PDFRemarks | PDFGeneral Discussion | External LinkVideo
Keynote Address:
PDFJerome H. Powell
Board of Governors of the Federal Reserve System

PDFSession I: The Economics of Payments Security
PDFPaper | PDFCommentary | PDFGeneral Discussion

PDFTyler Moore
Assistant Professor of Computer Science and Engineering
Southern Methodist University

PDFAdam Levitin | PDFPresentation
Professor of Law
Georgetown University Law Center

PDFSession II: Monitoring Payment Fraud: A Key Piece to the Puzzle
PDFPaper | PDFCommentary | PDFGeneral Discussion

PDFAlexandre Stervinou | PDFPresentation
Deputy Head, Payment Oversight Division
Banque de France

PDFChris Hamilton | PDFPresentation
Executive Director
Australian Payments Clearing Association

PDFLuncheon and Keynote Address: Achieving a Resilient Cyber Ecosystem: A Way Ahead
PDFRemarks |  PDFGeneral Discussion
Keynote Address:
PDFPeter Fonash
Chief Technology Officer, Office of Cybersecurity and Communications
U.S. Department of Homeland Security

PDFSession III: Managing the Threats to Data Security
PDFPanel Discussion | PDFGeneral Discussion

PDFTracy Kitten
Executive Editor, BankInfoSecurity and CUInfoSecurity
Information Security Media Group

PDFMark Carney | PDFPresentation
Vice President, Strategic Programs

PDFRobert Carr | PDFPresentation
Chief Executive Officer
Heartland Payment Systems 

PDFLiz Garner | PDFPresentation
Vice President
Merchant Advisory Group

PDFVernon Marshall | PDFPresentation
Functional Risk Officer
American Express

PDFSession IV: Devaluing Data: If the System Cannot Be Made Secure, Can the Information Be Made Worthless?
PDFPanel Discussion PDFGeneral Discussion

PDFMarianne Crowe
Vice President
Federal Reserve Bank of Boston

PDFSteve Schmalz
Solution Architect
RSA, the Security Division of EMC

PDFRadha Suvarna
Managing Director, Head of U.S. Emerging Payments, Citi Cards
Tokenization Subcommittee, X9

PDFMadhu Vasu
Senior Director, Innovation and Strategic Partnerships
Visa Inc.

PDFBranden R. Williams | PDFPresentation
Chief Technology Officer, Cyber Security Solutions
First Data Corp.

PDFSession V: Role of Industry Collaboration in Payments System Security
PDFPanel Discussion PDFGeneral Discussion

PDFJonathan Williams | PDFPresentation
Director of Strategic Development
Former Director, Federal Reserve Information Technology

PDFCharles Bretz | PDFPresentation
Director of Payments Risk
Financial Services Information Sharing and Analysis Center

PDFSandra Kennedy
President, Retail Industry Leaders Association Co-Chair
Merchant Financial Services Cybersecurity Partnership

PDFNancy O’Malley | PDFPresentation
Chief Payment System Integrity Officer
MasterCard Worldwide
Member, Payments Security Task Force

PDFLiz Votaw | PDFPresentation
Senior Vice President, OmniChannel Authentication Strategy
Bank of America; Board of Directors, Fast IDentity Online Alliance

PDFSession VI: Role of Government in Payments System Security
PDFPanel Discussion | PDFGeneral Discussion

PDFGordon Werkema
Payments Strategy Director
Federal Reserve Bank of Chicago

PDFAnjan Mukherjee
Counselor to the Secretary and Deputy Assistant Secretary for Financial Institutions
Policy Office, U.S. Department of the Treasury

PDFChrissanthos Tsiliberdis | PDFPresentation
Senior Market Infrastructure Expert
European Central Bank 

PDFCoen Voormeulen | PDFPresentation
Director of the Cash and Payments Division
De Nederlandsche Bank
Working Group for Cyber Resilience, BIS

PDFClosing Remarks
External LinkVideo
Esther L. George
President and Chief Executive Officer
Federal Reserve Bank of Kansas City

PDFConference Attendees