The Challenges Of Fraud In The Age Of The Mobile Internet
Seminar
Background:
You take out your entire family for a nice dinner. The bill comes, you whip out your credit card, take your last sip of wine and all of a sudden the waiter returns saying, “I’m sorry, your card has been declined.” This embarrassing scenario could go two ways – if actual fraud was detected as soon as the waiter swiped the card, you are grateful and your confidence in the card’s financial institution just skyrocketed. If the card was declined by mistake, your loyalty just shattered and you very well may move to another institution. Now take it one step beyond and assume that the card could be copied in any of 1,000 ways through mobile internet access and you can see, from a bank’s perspective, the issues of the modern world are increasingly challenging. How do you deal with such scenarios? To find out Derek Wylde, the Head of HSBC’s Global Fraud Group, will provide us with some insight into their best practices and worst nightmares.
Derek Wylde has extensive experience in financial services having joined HSBC in 1976. After an early career in retail banking he joined the card services division of HSBC in the UK in 1995 as Fraud Prevention Manager and progressed to Head of Fraud Management when he assumed responsibility for all aspects of plastic card fraud management - issuing and acquiring - for HSBC in the UK. In 2004 he took up a new role as Head of Group Fraud Risk where his job is to determine and co-ordinate anti-fraud strategy, policy and activities and the use of anti-fraud technology across HSBC Group. He is a member of MasterCard's Global Fraud Advisory Council. Derek is married to Tina, has two sons and his interests include gardening (because he has to) and playing cricket and golf (to escape the gardening).
Resources:
Speaker(s):
-
Derek Wylde
Head of Fraud Management
HSBC
Location
IoD hub, City of London
New Broad Street House, 35 New Broad Street
London
EC2M 1NH