Visa in Delhi to Combat Electronic Payment Frauds
Visa (Business Wire India)
New Delhi, Delhi, India
Visa has stepped up its electronic payments security awareness initiative with a Cards Fraud and Payments System Risk Awareness Programme for Indian law enforcement agencies.
This programme has been developed in response to growing government and public concerns around increased fraud exposure around electronic payment products, cyber security and cyber-crime.
Yesterday, Visa conducted an exclusive workshop in New Delhi where CBI officers of Economic Offence Zone participated. This workshop included insight and intelligence on global trends in fraud risk management; cybercrime and measures available to detect and combat them.
The programme is part of Visa’s ‘Risk awareness Campaign’ aimed at empowering stakeholders with knowledge that will enable them to use their cards with greater confidence and provide security.
Given the rapidly changing nature of cyber crime and card fraud in India, the objective of the awareness programme was to share the modus operandi of electronic payment frauds and the intricacies involved in them. The programme also focused on providing information on new technologies to track and combat online and offline frauds.
Prior to Delhi, Visa had conducted a similar awareness programme for the Criminal Investigation Department (CID), Karnataka State Police in Bangalore in February 2012.
Mr. Uttam Nayak, Group Country Manager – India and South Asia, 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 develop a safe and secure online experience. Through such programmes we play our part in keeping the country’s payment system safe and ensure that law enforcement agencies have the latest skills at their disposal. We will continue to work with all partners to ensure the cardholders and other stakeholders remain protected.”
“Cyber crime is dynamic in nature and new trends and methods continue to emerge every day. As a law enforcement agency, it is critical for us to understand the evolving cybercrime landscape and the latest technologies used to track and prevent criminal activities,” said, Shri. V. K. Gupta, Special Director, CBI.
Owing to the global nature of card industry and the ease and speed of transaction, law enforcement agencies often face problems in tracking both the evidence and the criminal, as we operate within our territorial jurisdiction. In such a scenario, the card industry can be of immense help to the law enforcement agencies in tracking the money trail and help in collecting vital evidence for investigations. In this background, I feel today’s workshop by Visa was of immense benefit to all of us, not only as police officers but also as general users of electronic money,” said, Shri. O.P.Galhotra, Joint Director, Economic Offense Zone, CBI, New Delhi, while inaugurating the workshop.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com
To view the photograph, please click on the link below:
L-R: Vivek Vasishtha, Visa; Sujay Vasudevan, Visa; O.P.Galhotra, Joint Director, Economic Offense Zone, CBI, New Delhi; Shri. V. K. Gupta, Special Director, CBI; Shri Uttam Nayak, Group Country Manager – India and South Asia, Visa; Neil Fernandes, Visa; Ms. Vineeta Thakkur, DIG, CBI