Visa forum focuses on ways to combat electronic payment frauds

The Law Enforcement Awareness Programme was designed to share the modus operandi of electronic payment frauds and the intricacies involved in them. The program also focused on providing information on new technologies to track and combat online and offline frauds and cyber-crime.

Major Dr. Khalid Aref Alshaikh and other officials from the Anti-Economic Crimes Department of the General Department of Criminal Investigations of Dubai Police participated in an extensive Visa Law Enforcement forum in Dubai earlier this week, which included insight and intelligence on global trends in fraud and risk management; cybercrime and measures available to detect and combat them.

Forum presenters included Neil Fernandes, Visa Head of Country Risk Management for MENA, India and South Asia; Azzam Alameddin, Head of Government Relations for MENA; Yasser Kunhi, Visa Associate Director, Country Risk Management, Middle East; Rubayat M. Zahir, Visa Account Information Security Program Lead for Visa APCEMEA Region; and, Alexander Amalorpavaraj, Visa Fraud Investigation for Visa APCEMEA.

Marcello Baricordi, General Manager - UAE at Visa, said: "Fraud and Risk management technologies are continuously evolving. The need of the hour is collaborative efforts from all partners within the value-chain to keep fraudsters at bay. Visa is committed to developing a safe and secure electronic payment experience through card use at Point of Sale and online. The Law Enforcement forum in Dubai is aimed at highlighting technological innovations and advances in risk management. Through such programs we play our part in keeping the payment system safe and ensure that law enforcement agencies have the latest skills at their disposal."

Neil Fernandes, Visa Head of Country Risk Management for MENA, India and South Asia, said: "Visa employs multiple layers of security that work together to help us manage fraud. From anti-counterfeit features, to network-based fraud detection, to data security standards to help keep sensitive information secure, Visa is committed to leading the industry toward a more secure, trusted payment system. We will continue to work with all partners to ensure the cardholders and other stakeholders remain protected."

Visa's efforts have kept global fraud rates near historic lows, enabling account holders to use Visa with confidence. In fact, with technological innovations and advances in risk management, fraud rates have declined by more than two-thirds in the past two decades.