ANTD.VN - In the past 2 years, there were 2 ATM skimming (card information theft) incidents in 2024 affecting 13 member banks. Regarding domestic card online payment fraud, there were an average of 12,000 transactions checked and complained with fraud codes/month via NAPAS.
Criminals understand the psychology of each person to manipulate and defraud.
According to statistics, up to now, more than 87% of adults in Vietnam have a payment account at a bank; the growth in the number of payment transactions via the internet and mobile is about 90%/year.
Digital banking has made great strides, especially after the State Bank issued Decision No. 2345/QD-NHNN on implementing security solutions in online payments and bank card payments to further enhance solutions to ensure safety, security, and better protect service users against online fraud.
Currently, 25 credit institutions have sent data to the Department of Administrative Police for Social Order (C06) for cleaning with nearly 2.5 million customer records sent and received feedback.
However, the Vietnamese banking industry is still facing many major challenges, as financial technology crimes are increasing with increasingly sophisticated, complex, and unpredictable forms of forgery, fraud, and scams.
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The rise of cashless payments comes with an increase in fraud crimes |
Mr. Nguyen Minh Tam, Vice President of the Card Association, shared that currently, criminals attack and steal data/information from the banking system/bank equipment, from points of sale linked to the bank or directly from customers using the service... They even understand the psychology of each group of people to manipulate and defraud.
According to the actual situation at the member banks of the Card Association in the past 2 years, Mr. Nguyen Ngoc Quy, Head of the Risk Management Subcommittee, Card Association, said that 2 ATM skimming (card information theft) incidents in 2024 affected 13 member banks, with a total recorded loss of about 2 billion VND.
Regarding domestic card online payment fraud, an average of 12,000 transactions were recorded, with fraud codes checked and complained about/month via NAPAS (the number of customers who did not check or complain was very large).
Regarding risks in international card issuance, the Risk Management Subcommittee has identified a number of large-scale data leaks; shifting the verification and complaint codes from fraud to codes indicating not receiving goods and services. As for risks in international card payment, transactions with signs of money laundering are still common, and fraud occurs at large, reputable online card acceptance units...
Share information, identify risks early
According to Mr. Cao Viet Hung, Deputy Head of Department 4, A05, Ministry of Public Security, there are 4 reasons for the increase in card crimes. First, the awareness of a large number of customers using card services or online payments is still limited.
Second, the situation of buying and selling personal data, renting and lending bank accounts is widespread and difficult to control. Although the subjects constantly change their methods and tricks, they all have the same goal: to appropriate people's assets (money).
Third, there is a lack of legal framework to manage and handle transactions and purchases of "virtual currency", "virtual assets", and "digital currency".
Fourth, international cooperation and information exchange between the Vietnamese police and foreign law enforcement agencies still face many difficulties and limitations, lacking synchronization and flexibility, leading to failure to thoroughly handle high-tech criminal organizations with foreign elements.
Faced with increasingly complex digital payment security risks, Mr. Nguyen Ngoc Quy said that member banks of the Card Association have coordinated through 24/7 groups to identify risks early as soon as the market generates a few transactions; warn all member banks; deploy interbank communication, trace and find common ground;
Continuously coordinate with A05 in localities as soon as risks are identified; Report to the State Bank, Banking Association, share information among member banks to support and respond appropriately according to risk appetite.
“Currently, we are actively coordinating with A05 to establish a special project, coordinate the capture of cyber criminals, and at the same time deploy internal prevention solutions for each bank,” added a representative of the Risk Management Subcommittee.
The Banking and Card Association is also preparing to issue a set of rules to clarify the process of coordinating the handling of risks in payment and fraud in the field of card payments.
A05 representative recommended that the banking industry should focus on investing in and upgrading information systems, especially biometric authentication systems, eKYC, etc. Banks should deploy system connections with databases of accounts related to illegal activities to promptly prevent, stop, and recover assets for customers.
Further strengthen the coordination between commercial banks, the State Bank of Vietnam, the Ministry of Public Security, and the Ministry of Information and Communications to promptly detect, disseminate, and warn about new criminal methods and tricks in card payment activities...
Source: https://www.anninhthudo.vn/ngan-hang-chia-se-du-lieu-de-nhan-den-toi-pham-lua-dao-ngay-tu-nguy-co-post595427.antd
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