Barry Smith has spent more than 30 years in credit and debit card fraud, identifying and resolving fraud loss issues for both issuers and acquires. He was the systems and programming manager for Chase Manhattan Bank in the 1970s 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, Barry was recruited by First Interstate Bank to resolve growing cardholder and merchant fraud problems in their California portfolio. In 1992, he was hired by Bank of America after a 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 expenses.
Barry 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 worked with financial institutions in the US, Europe, Asia, Latin and South America, recommending ways to reduce losses. Barry has served on various fraud committees with VISA USA and VISA International since 1986.
Today, Barry focuses 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.
