Visa Security Summit May 2011 – Jakarta, Indonesia

Ground Labs was proud to sponsor and present at the Visa Security Summit 2011 in Jakarta held on the 24th – 26th May 2011. This summit brings together financial institutions and Visa business partners from across the Asia Pacific region to address the ongoing threat of payment fraud and growing data security issues that we are faced with as an industry.

With over 300 delegates in attendance, the event covered a broad variety of topics including fraud detection through advanced authorisation, ATM compromises, Verified by Visa with Dynamic Authentication, Successful EMV/Chip case studies and other relevant industry topics.

The event was fortunate enough to attract some of Visa’s most senior risk and fraud executives including Ellen Richey (Chief Enterprise Risk Officer), Eduardo Perez (Global Head Payment System Security) and Ingrid Beierly (Director, Cyber-Security & Investigations) who all presented at different points throughout the summit on Visa’s initiatives to fight evolving payment fraud patterns that have lead to criminal convictions globally.

Also in attendance were 2 of our Asia Pacific partners, Stickman Consulting and Vectra Corporation. Both partners were event exhibitors promoting their innovative PCI compliance solutions for financial institutions and merchants which included our Card Recon and Enterprise Recon cardholder data discovery software solutions.

Ground Labs presented on PCI compliance challenges faced by the merchant community including the dangerous situation that exists from Level 2 – 4 merchants who are undergoing the self-assessment and SAQ sign-off process without fully understanding the content of the PCI DSS or the ramifications that a simple oversight could create. This is an evolving issue as the number of smaller merchants being compromised continues to grow. Once again we demonstrated how Cardholder Data Discovery can highlight many areas of non-compliance and risk within a merchant environment and help an organisation understand it’s true PCI compliance scope.

The event format run by Visa was first class and highlights just how an organisation like Visa functions and presents it’s trusted brand to the world. The Hotel Mulia was clearly one of Jakarta’s top hotels with five-star facilities and the highest level of physical security we have seen to date. On the subject of Indonesia, the event keynote address was provided by Ellyana Fuad, Visa Country Manager for Indonesia who offered some amazing insights on Indonesia and it’s people including the interesting fact that Indonesia currently ranks #3 in the world for Facebook usage and has the highest % of it’s population using Twitter compared with all other countries. These figures demonstrate the massive future growth potential of this region, particularly in areas of technology, banking and payments including PCI compliance…

The next Visa Security Summit will be held from the 14th – 16th of June 2011 in Dubai at the Grand Hyatt Hotel.