PCI SECURITY STANDARDS COUNCIL BRINGS GLOBAL PERSPECTIVES ON SECURE CARD TRANSACTIONS TO MALAYSIA

• APAC Community Meeting scheduled in Kuala Lumpur on 20th November, 2013
• Agenda to feature thought leadership insight on cybercrime protection, data breach forensics, the future of Payment Card Industry (PCI)

KUALA LUMPUR, Malaysia, November X, 2013: MCA Public Services and Complaints Department reported 13 cases of credit card fraud in Malaysia amounting to RM662,000 in the first six months of 2013 alone.

According to PayPal, Malaysia's online shopping market size is estimated to be RM 5 billion in 2014. 58% of online shopping in Malaysia is conducted through card payment. In the 2012 ACI Worldwide Impact Report, credit card fraud rate in Asia Pacific was reported at almost 30% and 14% of debit and credit card holders in Asia Pacific cited having experienced fraud multiple times during the past five years. Statistics show that payment fraud is a serious issue across Asia Pacific. As emerging nations show increasing spending capabilities, using card payment for commodities like travel, consumables, bill payments will rise.

The PCI Security Standards Council (PCI SSC), an open, global forum for the development of payment card security standards, understands how critical it is to secure card payments and strengthen awareness about security standards among intermediaries, service providers, and consumers.

The Council’s annual gatherings provide the opportunity for global leaders representing a breadth of industries and geographies to come together and discuss the latest updates and challenges in payment card security.

This year, the Asia-Pacific Community Meeting comes to Kuala Lumpur, Malaysia. The meeting will feature Paul Black, managing principal for the Verizon Risk Team. Technology forensics expert Paul Black will provide an inside look at the forensic investigator’s role in the payment card industry, including insight into the nature of today’s attacks, and case studies from the Asia-Pacific region. Key stakeholders across the payment card chain as will attend this one day event at Shangri-La Hotel, Kuala Lumpur.

This year, the meeting will also unveil new versions of the PCI Standards, provide technology updates and discuss the future of PCI with speakers:
• Bob Russo, general manager, PCI Security Standards Council
• Leon Fell, Director, Solutions Standards, PCI Security Standards Council
• Troy Leach, chief technology officer, PCI Security Standards Council

“With the increasing convenience of card payments, there has never been a more apt time for us to engage with the PCI community on insights and challenges around securing card payments, and get companies involved in the conversation about how to protect consumer’s payment card data.

We are excited about being in Malaysia this year. It is a vibrant country, with growing card useage and an emerging hub of all things modern and technologically advanced. We hope to have some very insightful discussions with the PCI community in Malaysia and beyond at the Asia-Pacific Community Meeting this year,” said Bob Russo, general manager, PCI SSC.

With new versions of the PCI Standards coming out this year, we’re looking forward to discussing these updates with the community. The expertise and variety of perspectives represented by this year’s speakers will make for engaging dialogue as we examine the latest challenges in increasing payment security globally,” Bob concluded.

The agenda for this year’s Asia-Pacific Community Meeting can be found at https://www.pcisecuritystandards.org/communitymeeting/2013/asiapacific/agenda.html.