Card Not Present Fraud , Fraud Management & Cybercrime , Mobile Payments Fraud
How Fraudsters Are Adapting to Changes in Payment Methods
David Lott of the Federal Reserve Bank of Atlanta Discusses the Latest Trends
The COVID-19 pandemic has led to changes in the way payments are made. David Lott of the Federal Reserve Bank of Atlanta discusses how fraudsters are adapting to the changing landscape.
See Also: Cybercrime-as-a-Service: The High Cost of Digital Transformation on Fraud
In a video interview with Information Security Media Group, Lott discusses:
- Payment fraud schemes exploiting the pandemic;
- The continued use of cash and checks;
- Recent activities of the Retail Payments Risk Forum.
Lott, a retail payments expert with the Retail Payments Risk Forum of the Federal Reserve Bank of Atlanta, has more than 40 years of experience in the field. He works with payments stakeholders in researching payment systems and products, focusing on risk mitigation strategies. He works with representatives from the Federal Reserve Bank in Boston in facilitating the meetings of the Mobile Payments Industry Workgroup and is a representative of the Federal Reserve Bank of Atlanta in several inter-agency and Federal Reserve System working groups. Recently, he assisted an ANSI X9A team in developing a technical review paper on card-not-present fraud.
