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Wednesday, October 27, 2010

SABRIC tackles e-payment fraud @ e-PPAN forum

The South African Banking Risk Information Centre (SABRIC) would tomorrow in Lagos, tackle how to combat electronic payment frauds in the country at the E-Payment Providers Association of Nigeria (E-PPAN) Techno-Interactive Forum.

SABRIC’s representative, Ms Susan Potgieter is expected to lead a team of online crackers to the one-day forum at the event slated to hold at Eko Hotels, Lagos.

SABRIC will be represented by Susan Potgieter who leads a dynamic team of crime combaters at the commercial crime busters.

Confirming this, the Executive Secretary and chief executive officer, E-PPAN, Mrs. Onajite Regha, said that the fifth edition of the Techno-Interactive Forum would be presided over by Bashorun J.K Randle, an accomplished Chartered Accountant with experience spanning over three decades and several industries on the theme “Combating Fraud, Taming the Beast in e-Payment.”

Regha also said that Potgieter has a wealth of experience in combating commercial crime and bank related commercial crime.

“Susan is currently the Vice-President of the South African Chapter of the Association of Certified Fraud Examiners (ACFE) and an alternate director on the interim board of the Institute of Commercial Forensic Practitioners (ICFP),” she said.

The E-PPAN boss said that Techno-Interactive Forum is the most significant payment industry event which holds quarterly in Nigeria.

“It is designed to address specific issues identified in the e-payment industry and to come up with a road map of resolving these concerns. The forum attracts technocrats, experts, business icons, consultants, regulators from the financial industry, government agencies, investors, senior level executives from private companies and seasoned professionals,” she said.

She decried that fraud has evolved in its sophistication and scope, and the effect of fraud on corporate organizations as well as the nation as a whole is devastating.

“Therefore being cognizant of global fraud trends, risk management techniques, fraud indicators are key to reducing potential loss and paramount in securing a fraud free business environment,” she said.

Regha also listed some of the objectives of this edition include to understand the current security measures applied to the operation of card transactions and educate stakeholders on existing global measures used in other climes.

Additionally, she said, the forum would outline what best practices needs to be implemented to prevent e-fraud attacks and institute ways of enforcing these practices, as well as clarify existing law enforcement initiatives in combating card fraud to industry players and regulatory bodies for effective fraud management among others.

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