Inspector Ms Sharreen Ibrahim, Officer-in-Charge of Team receiving their award from Tolan Steele, Senior Vice President, Risk Services, Visa.
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.
According to a statement by global payments technology company, the Commercial Affairs Department won the award for its outstanding efforts in managing and preventing payment card fraud in Singapore.
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.
"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. 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 Tan Boon Gin, Director of the Commercial Affairs Department, Singapore.