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25 August 2005

Baiduri Bank and the Royal Brunei Police Force represented Brunei at Visa Asia Pacific’s Risk Management Conference 2005 held last week in Singapore. The two organisations were part of a group of 200 member bank representatives and local law enforcement officials from across Asia that came together to discuss technologies, strategies and counter-measures in the fight against payment card fraud.

Mr Ti Eng Hui, Deputy General Manager Retail Banking & Branch Network of Baiduri Bank and Royal Brunei Police Force Inspector Lim Chiang Han attended the conference.

During the three-day conference, international experts from Visa pointed to the current level of collaboration between the industry, law enforcement and government agencies as a success story in the fight against card payment fraud.

As a result of this region wide collaboration, Visa payment card fraud has been managed down to a five-year low. According to Visa Asia Pacific, card fraud has dropped to three cents for every US$100 spent in the region or 0.03 as a percentage of sales volume in the first quarter of 2005. This is compared with 0.07 in the first quarter of 2000. The Asia Pacific figure is also lower than the global card fraud rate, which currently stands at 0.07 percent.

Commenting on the Visa Asia Pacific Risk Management Conference 2005, Mr Pierre Imhof, General Manager of Baiduri Bank said, “We are honoured to be invited by Visa Asia Pacific to participate in this premier annual event. This is an excellent platform to highlight key issues, share best practices and foster closer cooperation between industry and law enforcement agencies in a continuing effort to combat payment card fraud in the region.

“By working with Visa and the Royal Brunei Police Force, we hope to play a part in payment card fraud prevention and investigation in Brunei. This is our commitment to the country and its people,” added Mr Imhof.

” Baiduri Bank Charity Golf provides an opportunity for golfers to make a difference in the local community. “By participating in the Baiduri Bank Charity Golf, golfers will not only get to enjoy a good game of golf, but also contribute to local charities and help build a brighter future for deserving children,” said Mr Imhof.

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