[ISN] Did Obama’s Cyber Summit Miss the Mark?

http://www.bankinfosecurity.com/did-obamas-cyber-summit-miss-mark-a-7918 By Tracy Kitten Bank Info Security February 16, 2015 Payments security was a marquee topic at last week’s White House Summit on Cybersecurity and Consumer Protection. But was it all just talk, or will decisive action result from the Summit? Some observers say that, despite commitments made by leading payment card brands to enhance security, the Summit produced no specifics about how public and private sectors will collaborate to curb cyber-fraud. They also say the card brands’ plans fail to address tokenization concerns that banking/security leaders and retailers have been at odds over for the past several months. Fraud expert Avivah Litan, an analyst at the consultancy Gartner, says most of the payments security initiatives noted by the White House are more of a roundup of innovative private-sector initiatives, rather than specific action points the government plans to take to curb cyber-related fraud. Most notable of all, Litan says, is the lacking specificity the Obama Administration has provided about action it plans to take to stop data breaches, “for example, by coming up with a method to tokenize Social Security numbers.” […]