Glenbrook's Linda Elliot was at the Chicago Federal Reserve Banks’ 2008 Payments Conference where this year’s topic was Payments Fraud: Perception versus Reality. Her observations are here; she makes the important distinction between fraud prevention and data security.
There was ample discussion of PCI data security programs, their costs and benefits, and the status of PCI standards as a near-default standard for data security in all participants in a payments service, whether or not that service is actually a subscriber to the PCI group. However, I was troubled by an apparent rush to equate payments fraud prevention with adherence to PCI data standards. An entire panel seemed to use the terms ‘payments fraud’ and ‘data security’ as interchangeable. When participants began to discuss data security, they seemed to lose sight of other important characteristics of fraud and of fraud measures…
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During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.