CrediMax holds credit card security and fraud seminar

The awareness session was conducted at the Ministry of Interior- Economical Crime Division.

The seminar was addressed by Mr. Fahad Al Nasser, Head of Card Security at CrediMax who presented various types and aspects of credit card crimes along with preventive tools and methods that can be adopted and practiced to combat such crimes.

"The seminar comes as part of the cooperation between CrediMax and Ministry of Interior in providing maximum security and comfort when it comes to Credit Card usage. We are extremely glad to play an active role in this matter and cooperate with Ministry of Interior," said Mr. Al Nasser.

He added, "Since fraud cases have increased rapidly and globally recently, it is curial that all entities are involved understanding security features, discovering counterfeit cases. We in CrediMax believe that addressing such matter should be a joint venture and responsibility evolving the ministry of interior and other financial institutions to shed a light on this global problem and create maximum awareness to fight this crime. And to take the proper legal action for it."

Frauds can be detected and eliminated in several ways that include customer and merchant education, application and use of the latest technology such as getting notification by SMS after transactions, chip card and data encryption and collaboration between all relevant parties like banks, card associations, merchants, police, legislation, judicial and executive bodies.

"Imparting proper information and education, and the adoption of the latest technology are prime essentials to combat card fraud," concluded Mr. Al Nasser.