The Bahrain Association of Banks (BAB) has announced that it encourages its members whether as issuers, acquirers or processors to implement best practices for detecting and preventing e-payment fraud.

The BAB made the statement in the wake of the disclosure of a massive bank fraud carried out against Bank Muscat in Oman and the National Bank of Ras Al Khaimah.

The fraud involved computer hackers breaking into a MasterCard operation and increasing credit levels on cards and then using fake cards to withdraw money from ATM machines in 27 different countries.

To that end BAB are holding a workshop this Thursday at the Gulf Hotel in co-operation with Alaric entitled "Fraud Trends in the Financial Sector" to which all its members are invited.-TradeArabia News Service