Trend Micro Vice President to Participate at World Bank Group-International Monetary Fund Annual Meetings to Address Challenges of an Unregulated Virtual Economy

For the first time, a technology company takes part in this event

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Oct 08, 2013, 08:07 ET

DALLAS, Oct. 8, 2013 /PRNewswire/ -- Trend Micro (TYO: 4704; TSE: 4704), a pioneer in security software and solutions, today announced Tom Kellermann, the company's vice president of cyber security, will serve as a panelist at the 2013 World Bank Group (WBG) – International Monetary Fund (IMF) Annual Meetings. The session, "Dealing with the Challenges of an Unregulated Virtual Economy," seeks to bring global awareness and understanding to the emergence of an unregulated virtual economy on Oct. 9 at the World Bank Headquarters in Washington, D.C.

"I am honored to have been selected as a panelist for this very important discussion on the virtual economy," said Kellermann. "As the 'shadow economy' continues to expand, policy makers must address its pervasive impact on their regimes and sustainable development. No nation is immune to the negative externalities, which stem from cyberspace, and I hope all regimes use strategic multilateralism to manage this threat."

With the creation of virtual currency – a type of unregulated, digital money – regulators and law enforcement authorities have expressed concern over emerging, unregulated online ecosystems. While virtual economies could be an efficient way for certain kinds of payments to be conducted, such as low-value payments, there are many pitfalls, including the circumvention of central banks and monetary authorities to control the supply of money. This factor alone could lead to financial instability in addition to money laundering and financing of terrorism, due to the inherent anonymity and fluid cross-border transactions.

In response, the International Centre for Missing & Exploited Children, partner of the Global Forum on Law, Justice and Development, in collaboration with the World Bank Legal Vice Presidency and the World Bank Financial Inclusion and Infrastructure Practice (FPD) have organized this panel. This discussion will help stakeholders, including domestic and global organizations, better understand positive aspects associated with the new ecosystems, as well as risks, such as criminal activities.

Massimo Cirasino, head, payment system development group, World Bank, will serve as moderator for the panel. In addition to Kellermann, the panel will include Jason Thomas of Thomson Reuters Special Services. The panel will take place from 11 a.m. – 12:30 p.m., during the Civil Society Forum at World Bank Headquarters, 1818 H Street, NW, Washington, D.C., in room I2-250.

To learn more about virtual currency and its online implications, please visit: http://www.trendmicro.com/cloud-content/us/pdfs/security-intelligence/white-papers/wp-deepweb-and-cybercrime.pdf.

About Trend Micro

Trend Micro Incorporated a global leader in security software, rated number one in server security (IDC, 2013), strives to make the world safe for exchanging digital information. Built on 25 years of experience, our solutions for consumers, businesses and governments provide layered data security to protect information on mobile devices, endpoints, gateways, servers and the cloud. Trend Micro enables the smart protection of information, with innovative security technology that is simple to deploy and manage, and fits an evolving ecosystem. All of our solutions are powered by cloud-based global threat intelligence, the Trend Micro™ Smart Protection Network™ infrastructure, and are supported by over 1,200 threat experts around the globe. For more information, visit TrendMicro.com.

About The Annual Meetings

The Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world's financial system. This year's Annual Meetings events will take place in Washington, D.C., October 11-13, 2013.

SOURCE Trend Micro Incorporated