Customers make credit transactions at LPBank Nam Dinh Branch.

As one of the pioneering banks in implementing solutions to meet the requirements of data cleaning, risk prevention, and customer protection of the State Bank of Vietnam, the system of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) in the province has deployed the Smart Alert feature on the BIDV SmartBanking application, allowing automatic identification and warning to users of the banking application when transferring money to an account number with signs of suspicious risk. Accordingly, when customers enter the recipient's account number, the system will automatically scan with the database provided by the authorities (Ministry of Public Security, State Bank of Vietnam, etc.). In case the account is detected to be on the list of suspected fraud, the system will immediately turn on a notification that the recipient account may be on the list of suspected risk and warn customers to consider when making transactions. Similarly, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) Nam Dinh Branch also developed a security risk warning feature on the VPBank NEO app. With the above warning feature, VPBank NEO will issue a warning as soon as the customer starts to open the application and guide how to turn off potentially risky features if it detects that the customer's device is granting accessibility permissions to apps or is at risk of being accessed/controlled remotely. For example, instructions on turning off accessibility permissions on Android phones, and blocking emulated devices from using banking apps. In addition, the VPBank NEO app can also automatically block money transfers to accounts on the blacklist suspected of fraud, avoiding situations where customers lose money due to fraud.

The Military Commercial Joint Stock Bank (MB) has deployed a feature to quickly and effectively identify fraudulent account information, helping customers feel more secure when transferring money on the MBBank application. This is a particularly useful feature in the context of rapidly developing information technology, with increasingly sophisticated forms of fraud. MB has deployed this additional feature to provide safe and secure banking services to each customer. Accordingly, when transferring money, customers will receive a warning in case the recipient is a fraudulent account. This allows customers to easily block strange and suspicious transactions, helping to protect their accounts and assets. In addition, the MBBank app has the ability to proactively detect and immediately warn customers when their phones show signs of being infiltrated and taken over by malware. This advanced technology continues to reinforce the bank's goal of "protecting wallets". In addition to App Protection technology, with the goal of putting customers' transaction safety first, MB also always improves solid defense layers for each transaction such as passwords, D-OTP, biometric authentication technology, and fraudulent account warnings based on information provided by the Department of Cyber ​​Security and High-Tech Crime Prevention (A05). Along with that, banks such as Vietcombank, Techcombank, VPBank... have issued card fraud transaction insurance packages, helping customers minimize risks when their credit cards are stolen or used illegally. When using this insurance package, customers are reimbursed for the amount lost due to fraudulent transactions in case of data theft or transactions not made by the cardholder, with fees ranging from 10-50 thousand VND/month, depending on the insurance value.

In the coming time, the banking industry needs to continue to promote communication and financial education with many forms of expression that are easy to understand, easy to remember, easy to implement and have a widespread effect; in which it is necessary to target people in rural areas, the poor, young people, students, etc. to improve knowledge and skills for people when using banking services on digital platforms, helping to minimize risks for customers, thereby forming a good financial community. Strengthening the safety of the deployed technical security system such as: Solutions to authenticate customers for Internet Banking transactions according to the risk level of the transaction (transaction type, transaction amount); 3D Secure authentication solution for online card payment transactions; solutions to monitor and warn about suspicious transactions based on minimum criteria including: Transaction time, transaction location (geographical location, network IP address), transaction frequency, transaction amount, number of incorrect authentications to have measures to prevent and warn customers. In addition, the State Bank needs to strengthen the management, inspection and examination of payment service provision activities to promptly detect and handle violations. At the same time, it is necessary to accelerate the implementation of Project 06, thereby cleaning up customer data, effectively exploiting chip-embedded citizen identification data in verifying customer identification information... for the opening and use of payment accounts/bank cards. On the part of credit institutions, regularly update and grasp attack and fraud tricks, and at the same time strengthen measures to monitor and track the operations of important systems and Core Banking, ATMs, portals, websites, Internet Banking systems to promptly detect and proactively handle; conduct security scans and assessments of applications provided on the unit's internet to detect and fix security vulnerabilities.

For people using online banking services, to avoid the risk of losing money in their accounts, they should note: Comply with the regulations and instructions of banks providing online transaction services, register to receive notifications of changes in transaction balances; for passwords to access online transaction services, they need to set passwords that are difficult to guess, ensure security rules, change passwords regularly and do not use password saving features to log in automatically; do not provide online banking login name, password, authentication code (OTP code) via phone, email, social networks, web... 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, they need to lock the card on the electronic banking application or notify the bank as soon as possible to avoid the risk of losing money in the account. Log in by typing the address of the e-banking website directly instead of selecting the available link; log in only on the bank's official website and only install applications from official stores such as Google Play and App Store. Keep personal information and account information confidential; regularly monitor and update warnings about safety and security in online payments from the service provider bank and from the mass media.

Article and photos: Duc Toan