Leveraging COBIT5 in NFC-based payment technology: challenges and opportunities for security risk mitigation and audit

Author

Techoro, Tebug Mba ; Butakov, Sergey ; Aghili, Shaun ; Ruhl, Ron

fYear

2015

fDate

20-21 Feb. 2015

Firstpage

1

Lastpage

6

Abstract

Near field communication (NFC) payment technology was expected to revolutionize businesses, yet presents major challenges relating to security and assurance in the Canadian payment ecosystem. This paper suggest some of the best practices in various frameworks for Risks and Assurance management in implementing NFC-based payment technology (NFC-BPT). The NFC-BPT risks and threats are analyzed in conjunction with justified risks data from Canadian NFC Mobile Payment Reference Model (Canadian NFC-MPRM). The output of the analyzed risk is mapped to COBIT5 (Control objective for Information and Related Technology) for Risk and COBIT5 for Assurance processes through which, a comprehensive assurance steps will be obtained on data security, fraud, theft and malware for payment credential issuers and acquirers.

Keywords

electronic money; fraud; invasive software; mobile computing; near-field communication; risk analysis; COBIT5; Canadian NFC mobile payment reference model; Canadian NFC-MPRM; Canadian payment ecosystem; Control objective for Information and Related Technology; NFC-BPT risk; NFC-based payment technology; assurance management; assurance process; audit; data security; fraud; malware; near field communication payment technology; payment credential acquirer; payment credential issuers; risk analysis; security risk mitigation; theft; Computer crime; Data security; Decision support systems; Information technology; Legislation; Malware; COBIT5 for risk and COBIT5 for assurance; NFC-BPT; acquirers; data security; fraud and malware security and assurance steps; implementation; payment credential issuers;

fLanguage

English

Publisher

ieee

Conference_Titel

Mobile and Secure Services (MOBISECSERV), 2015 First Conference on

Conference_Location

Gainesville, FL

Type

conf

DOI

10.1109/MOBISECSERV.2015.7072875

Filename

7072875