Visa (NYSE: V), a global leader in digital payments, recently organized Pakistan’s esteemed “Fraud Prevention and Risk Management Summit.”
Held in Karachi, this significant gathering was part of Visa’s ongoing commitment to fostering secure payments and safeguarding the digital payments infrastructure in Pakistan. The summit aimed to ensure that issuers and acquirers are well-informed about potential risks and equipped with the necessary tools to defend against attacks. Umar S. Khan, Visa’s Country Manager for Pakistan & Afghanistan, emphasized the importance of empowerment in the fight against fraud, highlighting Visa’s extensive investments in technology over the years to enhance security measures.
Khan noted that the summit underscored the critical role of technology in financial management and provided valuable insights into card and digital payment security best practices. Visa aims to support Pakistan’s efforts in advancing digital payments, which could significantly boost the country’s GDP by 2025. The event, attended by 60 participants from Lahore, Karachi, and Islamabad, featured workshops led by Faten Wehbi, Visa’s Head of Risk for North Africa, Levant, and Pakistan, covering various aspects of fraud prevention and risk management.
Participants gained insights into the latest threats in the payment landscape and learned strategies for proactive fraud detection and prevention. The workshop also highlighted the tools available within payment ecosystems to efficiently manage and combat fraud. Visa remains committed to providing secure payment experiences through initiatives like the Visa CEMEA Security Summit and regional awareness campaigns promoting safe payment practices. By implementing technologies such as Visa Advanced Authorization, Visa Secure, and tokenization, Visa aims to reduce cyber threats while ensuring smooth and secure transactions.
