Commercial Affairs Department/Singapore Police Force receives Visa Law Enforcement Award
The Commercial Affairs Department of the Singapore Police Force was presented with Visa Law Enforcement award
Award recognizes significant contribution towards the fight against payment card crime by organizations across Asia Pacific, Central Europe, Middle East and Africa (AP & CEMEA) regions.
The Commercial Affairs Department, is one of only 12 organizations to be awarded prize for its tireless efforts in preventing payment card fraud in Singapore
Singapore - Visa has recognized the Commercial Affairs Department of the Singapore Police Force with a Visa Law Enforcement award at the Visa AP & CEMEA 2014 Security Summit.
The Commercial Affairs Department, won the award for its outstanding efforts in managing and preventing payment card fraud in Singapore.
“I would like to congratulate the Commercial Affairs Department of the Singapore Police Force, for winning a Visa Law Enforcement award at this year’s Visa Security Summit. The Commercial Affairs Department has demonstrated a clear commitment to keeping payments safe for consumers,” said Ooi Huey Tyng, Visa country manager, Singapore and Brunei.
“Visa believes security is a shared responsibility and works hand-in-hand with the entire payments community in Singapore, including law enforcement, to protect the payment ecosystem against potential attacks. Even with global fraud rates near historic lows at less than 6 cents in every $100 transacted, we must adapt faster than fraudsters who seek to do damage. We hope that this recognition of the Commercial Affairs Department’s, effort will encourage the financial services industry to work with Visa and law enforcement to better secure the future of payments,” added Ooi Huey Tyng.
The 2014 Visa Security Summit marks the event’s 10th year, bringing together security professionals from financial institutions, industry service providers, partners, regulators and law enforcement agencies from around the world. This year, it was held in Singapore.
“This award recognises not just the efforts of the Commercial Affairs Department in managing and preventing payment card related crimes but is also testament to the close cooperation and support that the Commercial Affairs Department has with relevant stakeholders, like Visa. This partnership gives us the ability to intervene at any point throughout the lifecycle of a transaction and has proven effective in frustrating the criminal and protecting the card holder”, said Mr Tan Boon Gin, Director of the Commercial Affairs Department, Singapore.
Caption: Inspector Ms Sharreen Ibrahim, Officer-in-Charge of Team receiving their award from Tolan Steele, Senior Vice President, Risk Services, Visa.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 47,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com, visaapnews.asia and @VisaNews.