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02/02/2010 -
When it comes to the fight for payment processing security, knowledge may be the best weapon. At least that is the opinion of the Financial Services Information Sharing and Analysis Center, which is hosting what it calls the Cyber Attack against Payment Processes event from February 9 to 11, payment processing news website the Green Sheet recently reported.
The exercise will be a simulation of a cyber attack, designed to "test the security of payment networks, educate organizations on system vulnerabilities and recommend improvements to better secure those networks."
The event will confront participating organisations with a series of cyber attack scenarios, and then ask them how they would respond to the attacks. Their responses will then be evaluated to see what the state of payment processing security really is. The exercise will also give organisations an opportunity to "introspectively" evaluate their security strengths and weaknesses.
"I'm fairly certain that many participating companies are going to realize that they're not as prepared as they think they are," Robert Carr, chairman and CEO of Heartland Payment Systems, told the Green Sheet.
Carr's involvement in the event is no surprise, as he recently told the Federal Reserve Bank of Philadelphia that knowledge gained from a payment processing breach should be widely distributed in the industry so everyone can learn from it.
