ValuCard Nigeria provides training on Card Fraud Management

Followng the successful inauguration of ValuCard’s Payment Card Fraud Management Forum in November 2007, the company has commenced an intensive two-day Card Fraud Management training for executives, senior officers and operatives of banks, the Economic and Financial Crimes Commission (EFCC), Nigeria Immigration Service, Nigeria Customs Service, National Drug Law Enforcement Agency (NDLEA) and the Nigerian wing of Interpol.

The programme is aimed at equipping participants with requisite knowledge, skills and strategies to prevent, investigate, apprehend and prosecute card fraudsters.

The training is necessitated by the increasing number of high profile banks in the country that are now issuing domestic and international Visa cards to their discerning customers for use as means of payment at Points of Sale, for purchases over the Internet as well as for making withdrawals at ATMs within and outside Nigeria via ValuCard’s world class switching, transaction processing and acquiring platform.

It is also coming at a time when ValuCard is piloting a new cost-effective global money transfer solution aimed at enabling Nigerians in the Diaspora to remit money to their loved ones in Nigeria via a secure Internet channel.

According to Mrs. Ochanya Dan-Ugo, Head, Risk & Control of ValuCard Nigeria Plc, the training curriculum include, amongst others, Identification of key payment card fraud issues; formulation of cohesive and effective card fraud & risk management strategies, in line with global best practices in the payment card industry; development of counter-measures to deal with fraud and other criminal activities in the payment industry.

Dan-Ugo explained that the primary objectives of the training are to ensure the protection of cardholders against the antics of card fraudsters; increase risk management efficiency amongst participants; and protect the country’s image as it relates to economic crimes.

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