The June/July issue of Cards&Payments has an article profiling Ellen Richey,head of global enterprise risk for Visa. Some interesting points from the article.
Q: Is it possible for companies to maintain compliance all the time?
A: Maintaining compliance is basically just disiplined execution. Security needs to be built into the business process so it is part of the everyday work.
Q: You said recently that Visa expects the US to adopt chip technology that is being used elsewhere to make purchases more secure. When do you think that will happen?
A: The fundamental technology will have to be consistent all around the world, and the EMV standard is what needs to be applied to maintain interoperability. But the U.S. is not going to be adopting a chip-and-PIN credit card or debit card any time in the very near future. What we're seeing today in the U.S. is contactless-chip technology rolling out.
Q: What will be the greatest security advance?
A: First, we think the industry ultimately needs to move toward dynamic data. Trying to protect static data within the system is going to be, I hope, less and less of a problem because the data will be less and less vulnerable. Once its stolen, it would be unusable. That would be the ultimate advance. Secondly, what I would like to see is continuously improving collaboration among all stakeholders - better communications and better cooperation to advance security - because we think security is absolutely a shared responsibility, and everybody has a role to play.
Monday, July 27, 2009
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