Since late June and early July, the social community and millions of customers who have registered to use accounts and conduct online transactions through banks... have been very interested in the phrase "biometric installation" (STH) because according to Decision No. 2345/QD-NHNN dated December 18, 2023 of the State Bank of Vietnam (Decision 2345) on implementing safety and security solutions in online payments and bank card payments, starting from July 1, 2024, money transfer transactions of 10 million VND/time or more than 20 million/day and some other online banking transactions are required to authenticate STH by face.
This is a great effort of the banking industry in the roadmap to promote digital transformation, creating safety and convenience for customers when transacting. In fact, the banking industry has been doing everything possible to quickly bring Decision 2345 into life.
Customers come to transact and authenticate STH at Agribank Phu Tho Branch.
Safe security, increased benefits
According to Banking Times, there are currently over 182 million individual customer payment accounts, equivalent to over 87% of adults having a payment account at a bank, many banks have over 95% of transactions processed on digital channels. Non-cash payments have grown strongly, especially in the number of mobile payment transactions and QR codes, with an average growth rate of over 100% per year from 2017 to 2023...
Reality also proves that people are increasingly adapting, accessing, and using more non-cash payment applications in transactions and buying and selling goods due to the conveniences they bring. Instead of having to use cash, just a smartphone with internet connection can complete the transaction. Not to mention that transactions with large amounts of cash are both difficult to protect and easy to confuse.
In recent times, the conveniences and benefits that banking products and services on the Internet have brought are enormous. However, the banking industry also faces risks and challenges related to security, safety, and confidentiality issues in the face of cyber attacks, the use of high technology to defraud and appropriate people's money and bank accounts with increasingly sophisticated and complicated tricks.
Credit staff of Cam Khe District Social Policy Bank advise and support customers to install STH.
Therefore, Decision 2345 will solve two important problems: ending the situation of opening bank accounts with fake documents and eliminating the situation of opening accounts with real documents but not opened by the owner. The authentication of STH as required by Decision 2345 will identify the correct account, the correct person with the citizen identification card issued by the Ministry of Public Security.
According to Deputy Governor of the State Bank of Vietnam Pham Tien Dung, STH authentication is to create another layer of protection, the bank does not skip any security steps so it is only safer for customers. This is a big "campaign", a mandatory requirement to increase security, safety and benefits, and protect customers' assets. Even in the case that customers lose their documents, are brought to a fake bank by bad guys to defraud and steal money, it is difficult to do because there is a facial STH to confirm whether the owner is genuine or not...
With the efforts of the entire system, in the first 3 days after Decision 2345 took effect, that is, by 5:00 p.m. on July 3, 16.6 million bank accounts were checked and compared with data from the Ministry of Public Security to eliminate fake accounts that were not owned by the owner and were created with fake documents. 16.6 million customer accounts were authenticated with STH in just the first 3 days, equivalent to the number of new accounts opened within 1 year of the banking industry, of which commercial banks authenticated 2.6 million accounts on the first day of July 1, 10-20 times higher than normal days, some banks even implemented STH authentication for customers since June. By the afternoon of July 5, 19 million accounts had been authenticated with STH...
Facilitate and secure STH authentication
To facilitate customers to implement STH, the State Bank has promptly directed units to strengthen communication, guide implementation methods to all customers, prepare plans, hotline channels and arrange staff on duty 24/7 to guide and promptly support customers to register and use STH authentication information.
At the same time, proactively coordinate with the National Population Data Center, the Department of Administrative Police for Social Order (Ministry of Public Security) and relevant organizations to prepare plans to handle difficulties and problems in the process of registration and use of authentication services using STH, along with implementing technical solutions to ensure security and safety of information and customer data, comply with legal regulations on personal data protection, ensure security and safety of information systems, banks seriously implement anti-counterfeiting, anti-deepfake technology, fake still images...
Transaction officer of Saigon - Hanoi Commercial Joint Stock Bank (SHB) in Phu Tho guides and supports customers to install STH.
In the same move, in order to quickly, promptly and effectively implement Decision 2345 of the State Bank of Vietnam, meeting the needs and interests of customers, the State Bank of Vietnam Provincial Branch has directed the system of bank branches in the area to closely coordinate with mass media agencies and related sectors to promote information and propaganda work on the necessity and benefits of implementing STH in online transactions through banks; check and review information technology infrastructure, combine the use of digital platforms and social networks to diversify dissemination forms, and guide people in implementation.
Along with that, arrange forces, assign staff to be on duty at banks to promptly advise, answer, guide, and help people implementing STH, ensure safety, smoothness, create maximum convenience for customers, be alert to fraudulent activities supporting STH updates...
With proactive, active, thoughtful and thorough preparation, the "coverage" of STH across the country in general and Phu Tho province in particular has been and is being effectively implemented, creating a breakthrough, contributing to information security, ensuring the safety of personal assets, increasing benefits for customers, while strengthening prevention and effectively combating high-tech crimes and other types of crimes in the banking sector and activities.
Hoang Anh
Source: https://baophutho.vn/phu-song-sinh-trac-hoc-loi-ich-va-can-thiet-215258.htm
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