Cybersecurity attacks on the payments system, many occurring at merchant endpoints, have cost the industry hundreds of millions of dollars in 2014. Both private and public resources have been mobilized to improve defenses and better manage risks. The best practices described in the National Institute of Standards and Technology’s (NIST) recently issued Cybersecurity Framework though "voluntary" are but one of the results of heightened attention to cybersecurity issues. This panel will focus on the industry’s response to cybersecurity challenges, including challenges surrounding implementation of the NIST standards, privacy issues that are likely to be addressed in future versions, and ways in which FIs, FMUs and other payment system participants need to adapt to an ever-evolving threat environment.

WilmerHale Partner Jonathan Cedarbaum will moderate the panel "Cybersecurity: NIST Standards and Emerging Best Practices," and WilmerHale Partner Franca Harris Gutierrez will moderate the panel "Third Party Risk Management – Due Diligence in the Age of Increased Regulatory Expectations."