Apr 14 2009 |
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Visa leads effort at PCI conference to minimise payment information vulnerability
Visa opens PCI Dubai Conference
Dubai, UAE 14 April 2009: Visa , the leading payment solutions provider, has participated in PCI Dubai, the leading payment industry conference and addressed stakeholders from across the GCC payment industry on various issues surrounding data security and payment card fraud. Participants also shared best practices, emerging technologies, and discussed ongoing industry challenges during the daylong event.
Kamran Siddiqi, MENA General Manager, Visa , delivered the keynote speech at the conference which promotes the widespread adoption of the Payment Card Industry Data Security Standard (PCI DSS). In his speech, Mr Siddiqi focused on data protection and fraud prevention through common data security policies and practices.
" Visa has been at the forefront of the issue of data security and payment card fraud, initiating its Account Information Security (AIS) programme in 2000. The programme, which originally concentrated on the importance of data storage, was the precursor and foundation for the PCI DSS," said Kamran Siddiqi, General Manager, Visa Inc.
"Gartner, the information technology research and advisory firm, estimates that 20 - 30 % of Global 1000 companies suffer exposure resulting from privacy mismanagement. The costs to recover from these security mistakes often range from $5 - 20 million for each organisation. Whether data loss is occurring accidentally by businesses or illegally through theft by individuals, the loss of data and the resulting fraud are largely preventable concluded Siddiqi.
About
Visa
Visa
operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the
Visa
,
Visa
Electron, Interlink and PLUS brands.
Visa
enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.
Contact:
Linsey Worgan, d'pr
Tel: +971 4 3233668,
Email: linsey@d-pr.ae
© Press Release 2009
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