for visa internal use only visa europe this information is not intended, and should not be...
TRANSCRIPT
For Visa Internal Use Only
Visa EuropeThis information is not intended, and should not be
construed, as an offer to sell, or as a solicitation of an offer to purchase, any securities
Visa Europe
“Who we are and our perspective on Risk Management”
Catalin Cretu, Country Manager, Romania
Piet Lakeman, Senior Manager
Risk Management Department
Presentation Identifier.2Information Classification as NeededVisa EuropeRomania, July 2010
Visa in the world – the current situation
• Visa Inc.
– Regional businesses merged to become a global publicly-traded company
– Canada, USA, Asia Pacific, Latin America and Caribbean, Central and Eastern Europe, Middle East and Africa
• Visa Europe
– Association structure - Owned and operated by over 4,000 European Member Banks
• Visa Europe is a “not for profit” organisation
Presentation Identifier.3Information Classification as NeededVisa EuropeRomania, July 2010
Visa Europe Risk Management Department
Presentation Identifier.4Information Classification as NeededVisa EuropeRomania, July 2010
Managing Fraud – A Chain Approach
Visa Europe Risk Management cannot manage fraud on its own. This can only be accomplished if all stakeholders provide their specific input and expertise.
In this chain Visa Europe Fraud Management (as part of the Risk Management Department) provides:
– Fraud Prevention and Operations
– Product Risk and Development
– Management Information and Analysis
– Public Sector engagement
Presentation Identifier.5Information Classification as NeededVisa EuropeRomania, July 2010
Improving Law Enforcement Support & Co-operation
&
Public Sector and other relevant Stakeholders engagement
A more pro-active approach
Two new initiatives
Presentation Identifier.6Information Classification as NeededVisa EuropeRomania, July 2010
What is driving the requirement for changes
Some highlights:
• We face many challenges in a difficult economic climate
• Fraud landscape has changed main problems are data
compromise and CNP fraud
• Organisational structures are changing (priorities/cost savings)
• The public sector has an effect on our commercial activities
• New technologies
Presentation Identifier.7Information Classification as NeededVisa EuropeRomania, July 2010
Public Sector and other relevant Stakeholders engagement
Presentation Identifier.8Information Classification as NeededVisa EuropeRomania, July 2010
Public Sector and other relevant Stakeholders engagement
Aim and Objectives
• To increase our relationship with the Public Sector and other
relevant stakeholders directly or indirectly involved in
combating fraud and abuse of payment cards in Europe at
strategic level
• Agree on actions with a mutual benefit for all stakeholders
involved, Visa Europe and its Members
Presentation Identifier.9Information Classification as NeededVisa EuropeRomania, July 2010
Who do we target
Public Sector and other relevant Stakeholders engagement
• Government and Regulators
• European Affairs
• Academic world
Presentation Identifier.10Information Classification as NeededVisa EuropeRomania, July 2010
What do we want to achieve:
• To ensure that the legal and regulatory frameworks are developing in line with the payment system technologies and practices
• To “steer” priorities from organisations such as the Judiciary and Law Enforcement agencies
• To make sure they can operate more efficient
Why Public Sector Engagement ?
Presentation Identifier.11Information Classification as NeededVisa EuropeRomania, July 2010
How does it work?
Presentation Identifier.12Information Classification as NeededVisa EuropeRomania, July 2010
Participation in the Financial System
Participation in the Financial System can be divided in three main phases
– The enrolment phase
– Use of the financial system
– The contract termination 1. Enrolment phase
2. Use of the financial service
3. End of contract phase
1. Enrolment phase
2. Use of the financial service
3. End of contract phase
Presentation Identifier.13Information Classification as NeededVisa EuropeRomania, July 2010
Identify specific
Projects/Opportunities
Develop a “country plan”
(agree on short, middle and
long term objectives)
Execute “country plan”
(deliver short, middle and
long term objectives)1. Enrolment phase
Public Sector
&
Visa Europe
Identify specific “consultancy needs”
(Subject matter experts )
Analysis of the situation
(Legislation, crime situation,
Shadow economy, investigation
capacity, knowledge etc. etc.)
Presentation Identifier.14Information Classification as NeededVisa EuropeRomania, July 2010
Our current activities in Romania
• Established relationships with:– Prosecutor's Office attached to the High Court of Cassation
and Justice
– Cybercrime Unit Romanian National Police
• Established a Visa Fraud Forum with our Romanian Members
– Police involvement
• We supported CEOP (Child Exploitation Online Protection – a UK police organisation) with the establishment of an Advisory Panel
– Three day training event plus a one-day regional conference “A Changing World: Young People and Risk in the Online Environment” schedule for November 2010
Presentation Identifier.15Information Classification as NeededVisa EuropeRomania, July 2010
Our current activities in Romania
• Organised in coop with Prosecutor’s office and Cybercrime Unit two day training for Judges, Prosecutors and police officers on non-cash means of payment (Various stakeholders involved such as Visa’s Legal department, DCPCU, Dutch Prosecution Service, Rep. Council of Europe, a Forensic Company)
Presentation Identifier.16Information Classification as NeededVisa EuropeRomania, July 2010
Extensive network
• European Affairs
• National Governments/Regulators
• Academic World
• International Law Enforcement organisations
• Domestic Law Enforcement organisations/Judiciary
• Local Embassies
• Forensic laboratories/companies
• Other private companies
• Etc. etc.
Presentation Identifier.17Information Classification as NeededVisa EuropeRomania, July 2010
“The most trusted currency in the world”