Thứ Ba, 18 tháng 6, 2013

Involving Consumers in Mobile Security

Asian Institutions Offer Important Lessons


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When it comes to mobile security issues, U.S. financial institutions and other organizations could learn some important lessons from banks in Asia’s most developed markets, including Singapore, says payments fraud expert Tom Wills. For example, Asian banks are more willing than their U.S. counterparts to involve consumers in security measures, he says.


“I’ve found that financial institutions here [in Asia] are very willing to embrace security and to get their consumers involved in securing their own financial assets,” he says during an interview with Information Security Media Group (transcript below).




In the U.S. and other Western markets, organizations are often reluctant to involve customers in security – for fear of resistance. But Wills sees a different mindset in Singapore and other leading Asian markets.


“I’ve found that they’re willing to experiment and try different ways to see what sticks,” he says. “And I think that would be a good take-away for U.S. financial institutions as well … not to worry about trying to new things.”


Wills adds: “In more advanced countries in [Asia Pacific], the types of threats that are going on are very similar to what we’re seeing in the U.S.”


During this interview, Wills discusses:


  • The role EMV plays in mobile payments throughout Asia;

  • How PCI impacts financial services;

  • Mobile application security risks facing every global market.

Wills, who now serves as the director of Ontrack Advisory, a company focused on payments innovation, is an expert in digital trust. For more than three decades, he has worked with companies such as Visa, VeriFone, Intuit, Wells Fargo and Bank of America, as well as multiple startups, to enhance security and compliance. He is a frequent speaker and media commentator on the topics of mobile, identity and security.


Also, see these webinar training sessions featuring Wills:


Asia’s Mobile Market



TRACY KITTEN: Would you say that the mobile market in Asia is much more advanced in the U.S. because of adoption, or is there more at play here?



TOM WILLS: There’s more at play, absolutely. The mobile market in Asia, just like the market itself in Asia, is a complex thing to describe. Let me just break that down for you a little bit. Asia itself, if you just want to talk about Asia Pacific, which would be Southeast Asia as well as East Asia, the Indian subcontinent and Australia and New Zealand – we’re talking about 24 different countries. And you have the whole [range] of economic development of those 24 different countries in that region, from Australia and New Zealand, which have a profile that’s similar to the United States, to China and India, which together have a third of the world’s population and very unique technology and financial services environments, to countries like Singapore and Hong Kong, Korea and Japan, which are, indeed, very advanced technologically when we’re talking about payments.



The answer is going to vary depending on the country that we’re talking about. When we say we like to talk about how technology has advanced with respect to payments in Asia, really … we’re talking about a few countries. We’re talking about Singapore, Hong Kong, Japan and Korea. Why is that? It’s because the smart phone penetration in those countries is very, very high compared to other countries in Asia at the opposite extreme. We could be looking at Bangladesh, Laos or Cambodia where smart phone penetration is maybe only about 5 or 6 percent. And the technology environment is different in those two different types of countries.


Unique Cyber-Risks



KITTEN: Would you say there are unique cyber-risks that threaten some of these different markets in Asia that we don’t see threatening markets in the western world?



Involving Consumers in Mobile Security

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