Card Not Present Fraud

Faster Payments Initiative: What's Next?

Federal Reserve's Ed O'Neill Offers an Update, Reviews Security Issues
Ed O'Neill, assistant vice president of secure payments, Federal Reserve

Faster payments can help to make payments more secure, but they can also raise new security issues. How can those be mitigated? The Federal Reserve has two task forces tackling this and other important issues, and a new report will be released soon.

In a video interview at Information Security Media Group's recent Fraud and Breach Prevention Summit in Chicago, Ed O'Neill of the Federal Reserve discusses:

See Also: DevSecOps: How to Change Old Behaviors

  • The security issues related to faster payments;
  • Why the Fed will not endorse specific technologies for faster payments;
  • An update on the activities of the two task forces - and the types of organizations involved;

O'Neill joined the Federal Reserve in January 2016 as assistant vice president of secure Payments. He is responsible for the design, development and implementation of key elements of the Federal Reserve's payment security strategy to reduce fraud risk and advance the safety, security and resiliency of the U.S. payment system. O'Neill also supports the Secure Payments Task Force in meeting its objectives and serves as the Federal Reserve's liaison for the task force's information sharing and data protection work groups.

About the Author

Tracy Kitten

Tracy Kitten

Former Director of Global Events Content and Executive Editor, BankInfoSecurity & CUInfoSecurity

Kitten was director of global events content and an executive editor at ISMG. A veteran journalist with more than 20 years of experience, she covered the financial sector for over 10 years. Before joining Information Security Media Group in 2010, she covered the financial self-service industry as the senior editor of ATMmarketplace, part of Networld Media. Kitten has been a regular speaker at domestic and international conferences, and was the keynote at ATMIA's U.S. and Canadian conferences in 2009. She has been quoted by, ABC News, and MSN Money.

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