Visa conference focuses on payment security

Visa recently arranged a conference for its clients and partners in Bangladesh to engage them with global best practices in payment security and risk management.

The global leader in payments technology stressed on the need for risk management framework and an industry agreed security roadmap.

Over 100 stakeholders of the country’s payments fraternity, including bank executives in risk management, information technology and information security, attended the Annual Visa Risk and Security Conference at The Westin Dhaka.

International experts from Visa shared key insights on critical aspects of digital payments like cybersecurity, system vulnerabilities and mobile payment frauds, the company said in a statement yesterday.

Terming the conference “an interactive platform to engage, discuss and learn from”, Vipin Surelia, head of risk services at India and South Asia, said World Economic Forum identifies large-scale cyberattacks as the 5th biggest risk facing the world in 2019.

“Emerging markets are more vulnerable to such attacks and need to take proactive steps to identify, and mitigate risks and reduce fraud incidents,” he said.

“Visa continuously engages with its partners and the regulators in the country to fight fraud and create better payment infrastructure,” he added.

Surelia said for over 30 years, Visa has played a vital role in enabling digital payments in Bangladesh.

“…we want to reiterate how essential it is for a growing market like Bangladesh to have a risk framework and an industry agreed Security Roadmap backed by strong security infrastructure to aid and accelerate this growth.”

Md Mahbubur Rahman Alam, associate professor at the Bangladesh Institute of Bank Management, emphasised on the importance of IT governance and need for board and senior management to be actively involved in cyber security.