The State Bank of Vietnam (SBV) has just issued recommendations to people on using banking services online to avoid the risk of losing money in their accounts.

According to the State Bank of Vietnam, in the face of complicated developments in cybercrime, in addition to banks implementing solutions to ensure information security (such as biometric authentication when transferring money according to Decision 2345), people also need to raise awareness of network information security and comply with instructions on the safe use of electronic banking services.

Therefore, people need to comply with the regulations and instructions of banks providing online transaction services and register to receive notifications of changes in transaction balances.

For online transaction service access passwords, you need to set a password that is difficult to guess, ensure security rules, change passwords regularly and do not use password saving features to log in automatically.

Do not provide your name, online banking login password, or authentication code (OTP code) via phone, email, social networks, web, etc. to anyone, including bank employees.

In case of disclosure or suspected disclosure of Username/Password , customers need to quickly notify the bank for timely support. In case of card loss, the card must be locked on the electronic banking application or notified to the bank as soon as possible to avoid the risk of losing money in the card.

Limit the use of public computers and public wifi networks when accessing the electronic banking system.

Type the address of the e-banking website directly instead of selecting the available link, only log in at the bank's official website.

DSC_4335 (2).jpg
Limit the use of public wifi when transferring money. Photo: Hoang Ha.

Only install apps from official stores such as Google Play and the App Store. When installing apps on your device, check the developer information and carefully review the permissions of the apps. Regularly update your device's operating system so that it receives the latest security patches from the manufacturer.

Make purchases and pay online at reputable, licensed websites with clear contact information.

Actively maintain and secure personal information and account information.

Regularly monitor and update warnings about security in online payments from service providing banks and mass media.

Taking advantage of the difficulties some people have in the process of biometric registration, there has been a phenomenon of scammers impersonating bank employees to support biometric installation with the aim of stealing user information to appropriate money in the account.

The bank recommends that customers absolutely do not provide OTP, digital banking password,... to anyone, including bank employees; be absolutely vigilant and do not access strange links via chat, SMS or email sent to your phone to avoid the risk of fraud and information theft.

Banks also confirmed that they do not directly contact customers to provide instructions on biometric collection, nor do they ask customers to provide personal information via channels such as phone calls, SMS messages, emails, chat software (Zalo, Viber, Facebook messenger...).

What should customers who do not have a chip-embedded ID card or use a phone that does not support NFC do?

For customers who do not have a chip-embedded CCCD (have a CCCD or ID card with a valid period according to the law) or customers who are foreigners or customers using phones that do not support NFC, to make online transactions over 10 million VND, customers only have to register biometric information once at the counter with the bank, then customers can make transactions through the Mobile Banking/Internet Banking application, without having to go to the counter.

In the coming time, when the Ministry of Public Security provides electronic identification and authentication services, banks will deploy the integration of Mobile Banking/Internet Banking applications with the electronic identification and authentication system to allow customers to register biometric information through electronic identification accounts issued by the Ministry of Public Security.

In 2023, according to statistics from the Information Security Warning Portal (Ministry of Information and Communications), there were nearly 16,000 reports from Vietnamese Internet users about online fraud, causing an estimated loss of VND 390,000 billion, equivalent to 3.6% of GDP. Of which, 91% of warnings were related to fraud and scams in the banking and financial sectors, an increase of 64.78% compared to 2022.