Visa International holds annual Fraud Forum in Jordan

The event, chaired by Mr. Theo Benz, Head of Fraud Control at Visa International Middle East, aimed to help create a proactive environment through which stakeholders collaborate to collectively fight fraud in the electronic payments industry.

Visa International's member banks, local security forces, and other card issuers were all invited by Visa International to attend the event. Through its interactive agenda, all parties present updated their knowledge on the latest fraud prevention techniques adopted world-wide, and were also made aware of the latest incidents of financial fraud encountered by authorities in both the region as well as in neighboring regions.

During the event, open discussions on the effectiveness of the latest measures taken by Visa International to protect the electronic payment industry from different forms of financial fraud took place, as well as a healthy give and take of ideas and suggestions on the matter.

Commenting on the forum's proceedings, Mr. Benz said, 'This is a very important event for us at Visa International. We are always happy to support local efforts to promote safe payments. We also believe in the importance of using world-leading technologies and we continuously call for the promotion of consumer education and awareness in this regard so as to ensure safer transactions. We work relentlessly in collaboration with member banks and other relevant parties operating across the industry and encourage strict law enforcement for the prevention of fraud.'

From his end, Mr. Naser Abu Ghazaleh, Visa International's Regional Manager for the Levant, added that unlike cash which opens the door to high volumes of counterfeit crime, electronic payments reduce fraud and are a far more secure and transparent way to pay. 'The joint efforts made by all parties present during the Forum will help ensure that Jordan remains a secure destination for electronic payments as well as a safe place to do business. Achieving these goals will ultimately help to safeguard tourism and to support government plans to promote investment and economic growth,' he said.

'We at Visa International make security our top priority and we continuously enhance our security programs to make sure that Visa remains the best and most secure way to pay. By adhering to that core value, Visa International does not only protect cardholders, but it also contributes to the business success of the merchants and members and in turn to Jordan's economic security and advancement,' Mr. Abu Ghazaleh added.