Forum focuses on credit card security

The issue of security in the credit card industry has been focused on by MasterCard at its eighth annual security and risk management conference.

Over 180 members of industries ranging from financial services and law enforcement to technology attended the event, which was held in Limassol, Cyprus on October 19th and 20th.

The summit was MasterCard’s fifth pan-regional security and risk management conference and discussed the latest methods and strategies in ensuring transaction and data security.

Presentations covered topics including the changing role of the acquirer, issuer responsibilities, organised crime and technology.

Chris Thom, chief risk officer for MasterCard, said that the summit was part of the company’s commitment to offering the most secure payment network in the world.

"In our efforts to advance commerce globally, MasterCard knows that security is critical to all members of the MasterCard payment card value chain and that only through collaboration and sharing best practices with our customers, processors, law enforcers and other partners will we achieve the highest level of success," he added.