Rancho Mirage, CA • April 14-16, 2008
Barry Smith
Barry was the Systems and Programming Manager for Chase Manhattan Bank in the 1970’s and was hired in 1972, by Citibank to develop the first automated fraud detection and processing system. After demonstrating the success of this system he was hired by MasterCard in 1984 to control the initial outbreak of worldwide credit card counterfeiting. After two years at MasterCard, First Interstate Bank recruited him to resolve growing cardholder and merchant fraud problems in their California portfolio. In 1992, he was hired by Bank of America, after their merger with Security Pacific Bank resulted in rapidly growing fraud losses. He reduced losses by more than 60% within the first two years while also reducing personnel and operating expenses.
Barry has spent more than 30 years in the Credit and Debit card fraud industry identifying and resolving fraud loss issues for both Issuers and Acquires. He has proposed and worked on the development of many of the major fraud control systems and techniques utilized worldwide, by the Associations and industry today. He has visited financial institutions in the US, Europe, Asia, Latin and South America working with them, and recommending ways to reduce losses. Barry has served on various fraud committees with VISA USA and VISA International since 1986. He is currently an independent consultant focusing exclusively on reducing fraud losses in the Bankcard industry. His clients include CUNA Mutual Insurance Company, Various Credit Unions (Large and small), Sun Trust Bank, Exxon/Mobil, First Bank of Marin, Payment Systems (PSCU- a major Credit Union processor), FDIC, Valley Bank, Visa USA, Visa International (Singapore and Taiwan) and various International Internet Merchants.
