The incident of the trading platform of VNDirect Securities Joint Stock Company (VNDirect) being temporarily inaccessible throughout today's session (March 25) caused the Hanoi Stock Exchange (HNX) and Hanoi Stock Exchange (HNX) to City Securities. Ho Chi Minh City (HOSE) had to issue a notice to temporarily stop connecting transactions of this securities company to the exchanges. VNDirect's incident not only disrupted investors' transactions and affected the image of the business itself, but also served as a "warning bell" to the systems of securities companies and financial institutions about network security issue.
According to Associate Professor, Dr. Dinh Trong Thinh, an economic expert, for banking and finance enterprises in general and securities companies in particular, ensuring information system security has become one of the most important issues. best.
“We know that transaction activities in the banking and finance sector take place very quickly, every minute, even every second. Therefore, information systems are always invested in by businesses to be as modern as possible, because it is very important to have a smooth and secure transaction system. Security and confidentiality systems in the Commercial banks, monetary systems, and financial companies are the top criteria, especially in the current digital technology era. The collapse of VNDirect's transaction system is a wake-up call. for securities companies in particular and the financial and banking system in general," Mr. Thinh said.
According to Mr. Thinh, it is unclear how serious the incident is, but this certainly shows that the system ensures poor information security. Notably, system failures caused by hackers are a major security problem.
Therefore, not only VNDirect but all securities companies and financial and monetary companies need to improve security and must regularly innovate, change technology, and access the most modern technology to ensure security. Ensuring smooth transactions in all situations.
Reality shows that, right in the currency market, not just securities companies, like in other countries, setting prices and closing prices is calculated every second, just fast, a few seconds late can make or lose money. money. Not to mention the fact that the problem lasted the entire trading day, that was a big problem. Therefore, this is a lesson not only for VNDirect and securities companies but also for the entire Vietnamese financial and monetary system.
In fact, VNDirect said, all customer information and assets are guaranteed to be safe and not affected by attacks. The incident only affects current transactions and maximum efforts are being made to restore the entire system, limiting disruption to customer transactions.
However, many investors expressed frustration when not being able to trade, causing them to lose trading opportunities, especially in a volatile market context like today's session.
Notably, VNDirect is a securities company with a market share of more than 7%, the third largest on HOSE, second only to VPS Securities Joint Stock Company and SSI Securities Joint Stock Company.
In fact, this is not the first time VNDirect has encountered transaction problems, but this time the problem lasted longer and by the end of the session on March 25, it still had not been resolved.
Previously, VNDirect had encountered many other similar problems. In April 4, during the trading session, investors were unable to log in to the company's website because the domain name and other extension pages had expired. In November 2022 and April 11, the company also had problems logging in transactions due to overload.
This time, not only VNDirect had problems, companies related to VNDirect also had their systems "downed"; including an insurance company, Postal Insurance Joint Stock Corporation (PTI), with a notice on the business's website: "PTI system has been attacked since 10:24 a.m. Sunday, March 3, 2024 . As of this morning, the technology team has managed to fix everything and is in the process of reconnecting in time for transactions. However, the recovery process is expected to take time so we will continue to update customers."
A business related to VNDirect is IPA Securities Investment Fund Management Member Limited Liability Company (IPAAM), which also announced "under maintenance and upgrading".
Regarding the relationship of these two businesses with VNDirect, in December 2, Vietnam Post Corporation (VN Post) completed the auction to divest all 12% of charter capital owned at PTI. After VN Post divests capital, PTI has the two largest shareholder groups: VNDirect and authorized shareholders (accounting for 2021%) and DB Insurance Company - Korea (accounting for 22,67%).
With IPAAM, this company was established in 2008, operating mainly in the fields of fund management, portfolio management and securities investment consulting. Recorded in the consolidated financial statements of the third quarter of 2023, IPAAM is the only subsidiary of VNDirect (100% owned). However, by December 12, VNDirect completed the transfer of 2023% of its capital contribution at IPAAM to IPA Investment Group.
Regarding this VNDirect transaction interruption incident, according to VNDirect, on the morning of March 24, 3, VNDIRECT's entire system was attacked by an international organization, leading to the temporary shutdown of VNDIRECT's entire trading platform. inaccessible. VNDIRECT's technology team has tried its best to restore, but due to the very large data infrastructure, it will take more time to connect.
Currently, the company is also working with partners who are leading technology corporations in Vietnam, as well as coordinating with PA05 and A05 to ensure the prevention of incidents similar to VNDIRECT for the safety of customers. market.
VNDirect said that as of this afternoon (March 25), the technology team has resolved the entire problem and is in the process of reconnecting in time for transactions. However, because the recovery process is expected to take time, VNDirect said it will continue to update investors.
VNDirect's website homepage also informed customers about the VNDirect system being attacked as above and information: "We had a difficult day but we overcame it with the companionship of our customers and partners. partner".
At noon on March 25, the Hanoi Stock Exchange (HNX) announced the temporary disconnection of remote and online trading on listed and registered securities trading markets. Derivative securities transactions, debt instrument transactions and individual corporate bond transactions from VNDirect to HNX.
HNX said this shutdown was to ensure the safety of the trading system after the department received a report from VNDirect about an incident related to the trading system that disrupted trading activities.
At the end of today's trading session, HOSE also announced to disconnect VNDirect's transaction connection to this office from March 25, 3 until VNDirect completely fixes the problem.
As soon as there is a report on VNDirect's remedial results, HOSE will evaluate and consider the time for VNDirect to resume trading.
In addition to VNDirect temporarily suspending connection, HOSE said it is still connecting and trading normally with other member securities companies.
