News and Updates

We discovered the essential parts of ultimate creativity.

Focussing only on the truely essential parts of webdesign

We know what’s essential for a unique piece of modern webdesign

About JIFS

The JIFS/JBA 2019 Anti-Fraud Seminar

Kingston Jamaica, June 19, 2019 Keynote presenter and Director of Prosecution at the National Integrity Commission, Dirk Harrison addressing participants at the ‘Managing Fraud in a Digital World’ seminar held yesterday June 19th, encouraged a ‘Focus on solution-oriented fix, rather than a problem-oriented fix”, in his address Mr. Harrison also recommended the establishment of ‘systems which seek to detect, prevent or curtail unlawful acts’…with the presence of a ‘law enforcement or investigative apparatus with teeth, sufficiently resourced with experts with the requisite technical skill sets, a judicial system and process, that is evolving up to the time, real time’. The 2019 annual Anti-fraud seminar, under the theme ‘Managing Fraud in a Digital World’ was hosted by the Jamaica Institute of Financial Services (JIFS) in association with the Jamaica Bankers Association (JBA), was attended by over 100 participants ranging from commercial banks, credit unions, audit firms, insurance companies, public sector entities, and the petroleum and cannabis industries. The seminar is considered timely as the industry grapples with an increase in e-fraud attempts such as phishing and spoofing which have the potential to undermine activities to improve access to digital financial services in line with international trends, which could potentially have serious implications for economic growth targets, transnational business transactions and relevance. Seminar presenters Damian Small - Director of Corporate Security at Scotiabank; Nicola Whyms-Stone – Legal Counsel within the Group Legal and Compliance Division of NCB; along with international presenters, President of Diligent eSecurity (Atlanta) - Kirk Chambers, and John Lopez of 3VR, provided participants with practical tips of mitigating fraud from a personal and corporate standpoint, and highlighted the tremendous opportunities that lie in the use of machine learning and artificial intelligence as well as video surveillance to appropriately and effectively manage fraud, reducing time for investigations and potentially discouraging fraudulent activities entirely. A solution-oriented fix to successful and safe digital banking would need to employ a combination of strategies that inspire trust and transparency with clients, and create awareness of the various social engineering tactics used by criminals to gather data, while ensuring that ‘fraud prevention and detection is an organizational objective’.

Identity and Document Authentication Seminar (IDA) - December 5, 2018

The IDA Seminar, hosted by the Jamaica Bankers Association (JBA) and the Jamaica Institute of Financial Services (formerly the Jamaica Institute of Bankers – the training arm of the JBA) is strategically organized at the beginning of the Christmas season due to the historically high incidents of attempted fraud during this busy commercial season. Over 70 persons were upskilled to identify and prevent the use of fraudulent documents to transact business, as well as the hope for a future of using digital processes to authenticate identity and documents. Participants were exposed to the world of authenticating in a digital environment and acquired skills around authenticating United States and Jamaican Currency, Passports, Drivers License and TRN. Tip: Register early for December 2019 taking!

Visa Business News - Contactless Requirements for LAC Region effective October 13, 2018

Effective October 13, 2018, Visa introduces new contactless issuance and acceptance requirements for the Latine-American and Caribbean Region. Ms. Maribel Corrales, Senior Risk Manager, Risk Services for the Latin America and the Caribean for VISA advised of the new development at the 2018 Anti-Fraud Seminar: Fighting Fraud - Protecting the Economy, held at Terra Nova Hotel on July 24, 2018. Contactless payments will offer several benefits to both cardholders and merchants such as provide faster transactions at the point of sale, which could increase sales, as well as lower operating costs because of reduced cash handling.

New VISA contactless Requirements for the LAC Region, effective October 13, 2018

At the 2018 Anti-Fraud Seminar: Fighting Fraud-Protecting Our Economy, held at the Terra Noval Hotel on July 24, 2018, Ms. Marabel Corrales, Senior Risk Manager, Risk Services for the Latin America and the Caribbean Region for VISA, advised that effective October 13, 2018, Visa will introduce contactless issuance and acceptance requirements in the region. The benefits of this new move will include faster processing time for transactions at the POS, which could lead to increased sales and lower operating costs from reduced cash-handling.

JIFS Finance Club - Experience the Evolution - July 12, 2018

'People rarely succeed unless they have fun in what they are doing', Dale Carnegie July 12th, 2018 the Finance Club under the theme 'Experience the Evolution', was sponsored by Lexmark International, Temenos, ATL - Audi and Appliance Traders Limited, and was hosted at the ATL Audi Showroom. Patrons enjoyed entertainment from Tivoli Dance Troupe who took patrons through the various changes in Jamaican music, from Mento through to SKa and straight into Dancehall. Our patrons were taught the moves, while they dined on an exquisite food and drink menu. Interactive games got the crew moving as they all participated in the night's activities. Check out a few of the moments captured by following the link!

50% Scholarship Awardee - Christina Grant

JIFS is delighted to announce the award of a 50% Chartered Banker MBA Full Programme Scholarship to Christina Grant of CIBCFirstCaribbean International Bank as it seeks to ensure that employees of the financial services sector are globally prepared. JIFS is proud to be able to facilitate such an award within the banking and financial services sector in Jamaica which recognises the years of collaboration with international Partner Bangor University Business School, who provides this highly innovative Banking and Finance MBA.