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Crime on the cards

Crime on the cards

Source: The Federal Reserve Bank of Philadelphia

On 13 and 14 September 2006, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Funds Transfer Association (EFTA) hosted a conference entitled 'Information security, data breaches, and protecting cardholder information: Facing up to the challenges'.

The two-day event was designed to bring together a diverse set of stakeholders from the US payments industry to discuss a framework to guide industry practices and inform public policy. In attendance were individuals from the major payments networks, card issuers, and banks, as well as consumer and merchant representatives and regulators.

Conference participants emphasised that the industry must address two fundamental issues: (1) increasingly dangerous threats to sensitive consumer information and (2) public perception and understanding of the risks from data breaches.

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