Cybercrime , Fraud Management & Cybercrime

New Project Studies Online Payments Fraud Prevention

The Federal Reserve Bank of Atlanta and Georgia State University’s Evidence-Based Cybersecurity Research Group are working together on a research project focused on how to prevent online payments fraud.

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Trish Supples, innovation subject matter expert, retail payment office, at Federal Reserve Bank of Atlanta and David Maimon, a research director at Georgia State University, describe the project's goals in a joint interview.

The partnership plans to look into new payment methods as well as learn more about synthetic ID fraud.

"We are interested in central bank digital currencies," Supples says. "There are a number of jurisdictions or countries that have launched a central bank digital currency. Though the underlying technology is secure, what if it were to go offline because of some vulnerability? We want to explore those aspects."

In a video interview with Information Security Media Group, Supples and Maimon discuss:

• The highlights of the partnership effort;
• How to prevent payment fraud through automation and operational practices;
• Top payment fraud trends.

Maimon directs the Evidence-Based Cybersecurity Research Group at Georgia State University. He is also a research associate with the HUJI Cyber Security Research Center at The Hebrew University of Jerusalem.

Supples is an advanced innovation subject matter expert at the Retail Payments Office of the Federal Reserve Bank of Atlanta.