MasterCard shares insights on fraud and risk issues
View(s):MasterCard recently hosted a Fraud and Risk Management workshop for electronic payments professionals in Colombo. In line with MasterCard’s commitment to sharing global best practices with its partners and gaining local insights from them, the workshop is a part of an ongoing series of knowledge-sharing sessions being organised by the payments technology company in the island, the company said.
Speakers at the event included Melvin Chew, Vice President, Customer Fraud Management, Law and Franchise Integrity, MasterCard; Manu Kashyap, Vice President, Enterprise Security Solutions, Asia/Pacific, MasterCard; Rajeev Kumar Ellappan, Leader, Franchise Integrity and Law and Franchise Integrity, MasterCard; and Harish Babu S. N., Assistant Vice President, Card Operations, South Asia, MasterCard.
“More businesses and consumers around the world are embracing the security and convenience offered by electronic payment solutions. As members of the industry, we need to continue to work together to identify threats and explore new avenues of managing risks and preventing frauds to retain their trust in them,” said Melvin Chew, Vice President, Customer Fraud Management, Law and Franchise Integrity, MasterCard according to a media release issued by the company. “As we share our learnings from around the world at workshops such as this, we also seek to better understand market specific issues from our partners in order to work with them on addressing the same.”With several decades of fraud and risk management experience between them, the speakers identified potential points of vulnerability and outlined best practice solutions. They also emphasised on risk concepts and methodologies as well as the development of fraud management strategies to create a sound fraud and risk management framework, the release said.