The above sharing was given by the leaders of Tuoi Tre Newspaper, the State Bank of Vietnam (SBV) and representatives of the National Payment Corporation of Vietnam (NAPAS) at the press conference announcing the series of events for Cashless Day 2024, held in Ho Chi Minh City on May 28.

Mr. Tran Xuan Toan, Deputy Editor-in-Chief of Tuoi Tre Newspaper, said that through the scams, many people do not understand why the victims are so naive and this is something only insiders can understand. People are lacking skills on digital platforms and educating people to protect themselves is a very important goal that the organizers of Cashless Day are aiming for.

The Ministry of Information and Communications and technology experts continuously recommend that people should slow down a bit, think 1-3 seconds before confirming a money transfer order to help limit fraud during transactions.

Mr. Nguyen Hoang Long, Deputy General Director of the National Payment Corporation of Vietnam (NAPAS), also said that the recent widespread fraud cases mainly come from non-technical factors, when scammers manipulate the psychology of service users through tricks of seduction, playing on greed or fear... so that victims make real payments and transfer money to the scammers.

To solve this problem, the first step is to coordinate communication and propaganda to raise awareness. Users sometimes have to decide a little later before making a money transfer to avoid falling into the trap of scammers.

NAPAS representative also shared that, in addition to banks deploying a system to identify specific behaviors that are likely to be fraudulent and warn customers, the company is also drafting a set of coordination procedures based on a legal foundation, so that when fraud is identified, the receiving bank can be notified for timely handling.

These are technical factors that are deployed immediately to slow down the money transfer process and limit fraud cases. Banks can block transactions on digital banking when notified of signs of fraud, or require customers to go to the counter to make withdrawals. These measures will slow down the flow of money for fraudsters.

Mr. Le Anh Dung, Deputy Director of the Payment Department, State Bank of Vietnam also shared that in the past 5 years, since Tuoi Tre Newspaper launched Cashless Day, it has witnessed the remarkable development of cashless payments, bringing many conveniences to users.

However, rapid development will also encounter problems of security and safety, and this is a trade-off between convenience and comfort and security and safety. Therefore, how to determine the appropriate balance between safety and comfort is a problem that needs to be raised.

Mr. Le Anh Dung said that in the second half of 2023 and early 2024, online fraud will flourish, many people will "suddenly" lose money, mainly because scammers will target the weakest link in the payment value chain, which is the user. These are completely non-technical factors.

Many people think the reason is because of hackers hacking into the banking system, but Vietnamese banks are very safe and secure, there is no way hackers can break in and enter as if there were no one there.

To protect people, communication is the first and most effective line of defense to help them gain knowledge and awareness of the risks when using banking services for payment.

According to the representative of the State Bank, from the risks that people face, payment service providers must strengthen system security measures, payment security, and find solutions to protect people with the motto "a thick orange peel has sharp nails". This is the responsibility of all parties, bringing safe and secure services to customers.