(3)In light of the interconnection between payment instruments and payment systems, the smooth operation of payment systems is dependent on public confidence in payment instruments. Financial loss due to fraud undermines public confidence in payment instruments and it is therefore important to adopt measures that ensure that payment instruments are secure and that their users and the payment systems through which such payments pass are also secure. It is therefore duly justified to monitor the levels of fraud, and the means by which such fraud is carried out, to ensure the safety, security and efficiency of those instruments, thereby ensuring their smooth operation.