Breakfast Briefing - War on Fraud October 13th 2010

Paynet Group recently hosted over 25 partner banks for an Executive Breakfast Briefing Session dubbed `War on Fraud'. The industry and indeed the region is currently under significant threat from many forms of banking and local and international card fraud with an endless list of offenders, not the least including currency fraudsters at agents, CIT heists, card skimming, ATM fraud, collusion, cheque fraud, identity theft, embezzlement, counterfeiting and card fraud.

Paynet's Technical Director, Ron Webb, took guests through a presentation highlighting the risks and some of the emerging technologies and practices that are being applied by the fraudsters. Mr Webb highlighted various requirements that would help in mitigating these frauds with a key emphasis on the need to be adequately equipped for this fight.

Through Paynet's processing centre, we have developed high levels of fraud detection through proactively monitoring of the ATM networks and in providing value add services for credit and debit cards used across the merchant outlets.