Visa updates CBI officials about cyber crime,card fraud trends

Has stepped up its electronic payment security initiative with a Cards Fraud & Payments Risk Awareness Programme

To spread awareness on changing nature of cyber crime and card frauds in India, global payment company Visa has sensitised CBI officials about modus operandi of electronic payment frauds and measures to combat them.

Visa said it has stepped up its electronic payments security awareness initiative with a Cards Fraud and Payments Risk Awareness Programme for Indian law enforcement agencies.

"This programme has been developed in response to growing government and public concerns around increased fraud exposures around electronic payment products, cyber security and cyber crime," it said in a statement.

Thursday, Visa conducted a workshop here where Central Bureau of Investigation (CBI) officials of economic offence wing were given information on global trends in fraud risk management, cybercrime and measures available to detect and combat them.

The company said that given the rapidly changing nature of cybercrime and card fraud in India, the objective of the awareness programme was to share the modus operadi of electronic payment frauds and the intricacies involved in them.

"This programme also focused on providing information on new technologies to track and combat online and offline frauds," the company said.

Visa Group Country Manager (India and South Asia) Uttam Nayak said the company is committed to developing 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," he said.

V K Gupta, Special Director of CBI said that as a law enforcement agency, it is critical to understand the evolving cybercrime landscape and the latest technology used to track and prevent criminal activities.