To keep abreast of the rapid development and the associated risks in the payment card sector, Commercial Crime Bureau (CCB) organised an experience-sharing session with the sector on December 17.

The session sought to familiarise CCB officers with the operation of the payment card sector, its marketing practices, prevalent typology of fraud and, most importantly, the latest developments and the risks of mobile payment methods.

Three speakers from the payment card sector shared their valuable experiences with CCB officers by explaining high-risk mobile (contactless) transactions and the use of mobile phone malware by fraudsters to intercept One-Time Password. They also discussed the challenges of striking a balance between risk control and customer service, and presented a modus operandi of fraudsters targeting at card issuing banks by posing as retail merchants.

The sharing session not only boosted CCB officers' professionalism, but also served as a platform for exchange of information, which is an integral part of CCB's efforts to engage its strategic partners.