The Financial Services Information Sharing and Analysis Center (FS-ISAC), a non-profit organization and the leading industry venue for collaboration on critical security threats facing the financial services sector, has formed the Payments Processing Information Sharing Council (PPISC). The PPISC is a forum for sharing information about fraud, threats, vulnerabilities and risk mitigation practices in the payments industry.
The FS-ISAC has many special partnerships with related government intelligence, regulatory and law enforcement agencies including the Department of Homeland Security (DHS). It was established in 1999 by the financial services sector in response to 1998's Presidential Directive 63. That directive – later updated by 2003's Homeland Security Presidential Directive 7 – mandated that the public and private sectors share information about physical and cyber security threats and vulnerabilities to help protect the U.S. critical infrastructure.
Constantly gathering reliable and timely information from financial services providers, commercial security firms, federal, state and local government agencies, law enforcement and other trusted resources, FS-ISAC quickly disseminates physical and cyber threat alerts and other critical information to its member organizations. This information includes analysis and recommended solutions from leading industry experts.
Membership to the PPISC is limited to executives of payments processors. The Council’s focus is to confidentially provide and share information to member chief executive officers, chief operating officers, chief information officers and chief security officers.
Payments processing professionals who would like to join the PPISC – can learn more at www.fsisac.com and www.ppisc.com.
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"There has never been a forum available specifically to the payments industry where we could share information on a confidential basis. FS-ISAC is a highly regarded organization with a trusted community of industry leaders that has been sharing information in the banking, brokerage, insurance and related financial services industries for the past 10 years. It has the expertise, experience and infrastructure in place to immediately influence open lines of communication in the payments processing industry while protecting the confidential nature of sensitive information."
– Bob Carr, chairman and chief executive officer, Heartland Payment Systems