Bahrain banks in e-payment safety vow
Manama, May 12, 2013
The Bahrain Association of Banks (BAB) has announced that it encourages its members whether as issuers, acquirers or processors to implement best practices for detecting and preventing e-payment fraud.
The BAB made the statement in the wake of the disclosure of a massive bank fraud carried out against Bank Muscat in Oman and the National Bank of Ras Al Khaimah.
The fraud involved computer hackers breaking into a MasterCard operation and increasing credit levels on cards and then using fake cards to withdraw money from ATM machines in 27 different countries.
To that end BAB are holding a workshop this Thursday at the Gulf Hotel in co-operation with Alaric entitled "Fraud Trends in the Financial Sector" to which all its members are invited.-TradeArabia News Service