With every transaction, millions of shoppers transfer personal and financial information via credit card readers and online channels. The security of consumers' information is the most vital part of a bank's legitimacy, TMC news reports. For the past two years, there has been an average of nearly one million identity theft
and fraud cases in the United States, according to the Federal Trade commission. Identity verification is a hot topic these days, as currently the rate of stolen identities is approximately three times higher than it was in 2001. "Credit or debit card and check fraud, just like computer information fraud, is based on bank information obtained unlawfully, and represents a major challenge to the effectiveness of bank security," says Miguel Angel Carlos Jaime, chairman of the CELAES Conference Committee. As one of the most important conferences held in the banking industry every year, the Annual Bank Security Summit will be held in Miami on September 15-16. Representatives from Walmart, American Express, the U.S. Secret Service and other prominent members of the financial industry will discuss topics such as risk management, electronic security and banking fraud.