DHAKA: Speakers at a two-day workshop on payment card risk management said that cyber threat on transaction has become the key concern worldwide.

Protecting customers' personal data is not only good for business it has also become the law worldwide as there is risk, they added.

The two-day workshop on payment card risk management was held at a city hotel from November 7.

The workshop was organized by Innova Corporation (Innova), a fast track consultation and ICT solutions provider imparting Information Security Consultation on The Payment Card Industry Data Security Standard (PCI-DSS), risk management, and compliance etc.

Innova, which is also as authorized representative of Risk Associates of Australia, arranged the workshop for the key technical and security officials of different financial institutes of the country.

Risk Associates is an Australian IT consulting group that provides information security, risk management, information governance, and compliance programs to clients across Australia, southeast Asia, Europe, Caribbean and North America.

Dr Aftab Rizvi, Managing Director of Risk Associates & Principal Consultant and Director at Gaming Associates Pty Ltd conducted the training session during the workshop.

Aftab was the world's first tester of regulated internet based gaming systems, commencing internet gaming systems testing in 1997.

During the session, Dr Aftab discussed on The Payment Card Industry (PCI) compliance and The Payment Application Data Security Standard (PA-DSS) covering technology, security, policies, procedures and operational aspects of a business as an international certified trainer.

He said when it comes to processing credit card transactions, small businesses must follow PCI Security Standards to make sure that all companies that process, store or transmit credit card information maintain a secure environment to protect customer credit information.

On the other hand, PA-DSS, formerly referred to as the Payment Application Best Practices (PABP), is the global security standard created by the Payment Card Industry Security Standards Council (PCI SSC).

PA-DSS was implemented in an effort to provide the definitive data standard for software vendors that develop payment applications.

So to offer the service for card and online banking service, it is very important for the service providers to understand the PCI and PA-DSS clearly that allows them to offer the best for their consumers.

The use of credit/debit cards and online banking has also become general phenomena in global business nowadays, where security is very important, specially to address the risk of cyber threat.

That’s why cyber threat on transaction has become the key concern worldwide. And protecting customers' personal data is not only good for business it has become the law worldwide as there is risk.

Dr Aftab Rizvi further said, “And you cannot ignore it to address. As a company to work for risk management we assist you with PCI compliance and trained and aware people about the technology and help them review and scan their security service and standardized it to offer”.

Innova CEO M Zakirul Hasan said, “The vulnerability to do online transaction and use cards has increased a lot and this is why we need to be prepared to meet the challenges where such knowledge based training helps a lot”.

“This is very expensive training worldwide and we are happy to arrange it having the subsidize facility of Risk Associates, Australia,” he added.

Numbers of participants attended the workshop and certificates were distributed among them after its completion.

BDST: 1930 HRS, NOV 11, 2015
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