AFEP Francesca Maritan 14.9.2016 Welcome u ... To our veteran - - PowerPoint PPT Presentation

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AFEP Francesca Maritan 14.9.2016 Welcome u ... To our veteran - - PowerPoint PPT Presentation

Sep 20, 2023 42 likes •302 views

AFEP Francesca Maritan 14.9.2016 Welcome u ... To our veteran members u Thank you to MMS for hosGng Agenda Introduc)on to member mee)ng: Francesca Maritan The Arms War Fraud in the Digital Age: Andrew BarneL, Director, Barclays

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AFEP

Francesca Maritan – 14.9.2016

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Welcome

u ... To our ‘veteran’ members u … Thank you to MMS for hosGng

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Agenda

Introduc)on to member mee)ng: Francesca Maritan The Arms War – Fraud in the Digital Age: Andrew BarneL, Director, Barclays Corporate and InternaGonal, Fraud Risk Management, Barclays PSD2 ‘Strong Authen)ca)on’: Mike Southgate Update from the Exec: Francesca Maritan.

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Strong Customer Authentication: An AFEP Guide

Mike Southgate - 14-09-2016

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Regulatory Update

PSD 2 Due January 2018 Defines “Strong customer Authentication” And the Liabilities that will fall upon firms if they fail.

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Strong Customer Authentication

“authenGcaGon based on the use of two or more elements categorised as

  • knowledge (something only the user knows),
  • possession (something only the user possesses)
  • inherence (something the user is)

that are independent, in that the breach of one does not compromise the reliability of the

  • thers, and is designed in such a way as to protect the confidenGality of the authenGcaGon

data;

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Knowledge

Examples of Knowledge:

  • Passwords
  • Pin Numbers
  • Security Ques)ons
  • Personal data, such as DOB
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Possession

Examples of Possession:

  • Key Fobs
  • Debit Card/Card reader
  • Phone
  • Secure file (Security cer)ficate)
  • The Exorcist
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Inherance

Examples of Inherance:

  • Fingerprint
  • Voice Recogni)on
  • Iris scanner
  • Facial recogni)on
  • behavioural data cannot be considered as a standalone inherence element
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When is this needed:

a) accesses its payment account online; b) initiates an electronic payment transaction; c) carries out any action through a remote channel which may imply a risk of payment fraud or other abuses

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When isn’t this needed:

  • the payer initiates online a credit transfer, where the payee is

included in a list of trusted beneficiaries previously created by the payer

  • initiates online a credit transfer where the payer and the payee are

the same natural or legal person and the payee’s payment account is held by the payer’s account servicing payment services provider; (You have two customers sending funds to each other)

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How it works

Login with password Code sent via text to user Code is entered into web page User can Login Fingerprint is validated

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How it works

Login Add new Bene Validate User User can send a payment

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ArGcle 74

Payer’s liability for unauthorised payment transac)ons “Where the payer’s payment service provider does not require strong customer authenGcaGon, the payer shall not bear any financial losses unless the payer has acted fraudulently”

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ArGcle 73

Payment service provider’s liability for unauthorised payment transac)ons “payer’s payment service provider refunds the payer the amount

  • f the unauthorised payment transacGon immediately, and in

any event no later than by the end of the following business day, aaer noGng or being noGfied of the transacGon”

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ImplicaGons

Some SeVlement methods will reduce risk, but not liability Credit/Money on account may increase it Covers all dealing methods, Online, telephone/Fax, Email Includes areas such as servicing the account, changing name/address etc Implemented by January 2018.

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ExecuGve CommiLee Update

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AFEP Roundup

June 2016

u Member meeGng and social u Common ReporGng Standards confirmaGon from HMRC

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AFEP Roundup

July 2016 u EU Seminar round table (summary to be contained in September newsleLer) u MiFID II arGcle 10 discussion with FCA & HMT

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AFEP Roundup

August 2016

u Cyber Intelligence Sharing Partnership u Payments Strategy Forum consultaGon document u European Banking Authority consultaGon paper on strong customer authenGcaGon (following iniGal call for informaGon February 2016) u CirculaGon of new NCA glossary codes u Changes in requesGng a defence under POCA or TACT (via Barclays - forwarded on by El) u CirculaGon of FATF Guide on Counter Terrorist Financing

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Round Tables

u Risk Management

u Inform and share ideas u Collate concerns u Garner member opinions u Inform discussions with regulatory and government bodies.

u 12th October 2016 8:30 - 11:30. TWO SPACES LEFT. Held at: Stephenson Suite, The Euston Square Hotel, N Gower St, NW1 2LU. Email El MarGn if you would like to aLend.

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AFEP AGM

u Re-appointment

u Jamie Cooke – Director u Francesca Maritan - Chair

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AFEP AGM

Welcome to Execu)ve CommiVee Mentees

u AJ Penniston u Kam Biring u Dipesh Patel u Joanna Jenkins u Munish Trehan

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AFEP AGM

Thank you to Execu)ve CommiVee

u Jude Bahnan u Ian Benson u Jamie Cooke u Richard Creed u Laura Hanna u Neville Lacey u David Miles (reGring) u Millie Richardson u Mike Southgate

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AFEP AGM

Renewal

u Due September u Full - £750 to £950 u Associate - £375 to £475 for associate u Online renewal process

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Close

u Next members mee)ng, Wednesday 7th December, 5pm, hosted by Barclays at 5th North Colonnade, Canary Wharf

u Francois Rogers from Payment Systems Regulator and Chris Young from the MET Police – Cyber-intelligence Sharing Partnership (CISP) u Survey on seats …