Safe solutions in banking transactions

Under the guidance of a bank employee, the customer proceeds with the steps to update facial biometrics.

Recently, in the province as well as the whole country, there have been many cases of people being scammed by scammers who appropriated money in their bank accounts using increasingly complex and sophisticated tricks and technologies. In response to this situation, the State Bank issued Decision 2345/QD-NHNN dated December 18, 2023 on implementing safety and security solutions in online payments and bank card payments. The decision takes effect from July 1, 2024. Accordingly, online transactions worth over VND 10 million/time or VND 20 million/day must be biometrically authenticated by fingerprint or face. This solution allows management agencies and service providers to accurately identify account holders, transaction performers, and beneficiaries. Thereby, helping to enhance security, prevent unauthorized access to Mobile banking applications, and protect customers' assets. At the same time, it helps to put an end to the practice of buying, selling, and renting bank accounts for the purpose of fraud in cyberspace. Sharing about this issue, Mr. Pham Manh Kien, Deputy Director of the State Bank of Vietnam, Dien Bien Province Branch, said: “For transactions of 10 million VND or more per transaction and a maximum of 20 million VND per day, biometric verification is required, which is currently the face; and in the future it may be the iris according to the program being implemented by the Ministry of Public Security . Through comparison with the face to confirm that the person directly transacting on that account is the owner; this will ensure more safety and security”.

For the convenience of transactions, many people in the province have now updated their biometrics in two ways: Online through the banking app and directly to the bank for instructions. As someone who regularly makes online money transfers through the Mobile banking application, from the first day Decision 2345 took effect, Ms. Trinh Thi Ngoc, Tan Thanh ward (Dien Bien Phu city) went to the transaction office of the Joint Stock Commercial Bank for Industry and Trade ( Vietinbank ) to have the staff guide the biometric authentication steps. Ms. Ngoc said: "When I received the bank's notice about having to update biometrics, I was a bit worried and found it difficult to do on the software. Therefore, I went directly to the bank to ask the staff for instructions. Through that, I feel that transferring money with this biometric will be safer, because I have to authenticate my face instead of entering the OTP code like before".

Many people come to Vietinbank to update biometrics.

Unlike Ms. Ngoc, instead of going to the bank to get support for updating, many account holders install online on the banking app. However, doing it online is also difficult. Mr. Nguyen Manh Hung, Muong Thanh ward ( Dien Bien Phu city) shared: “For the convenience of transactions, when the bank account received a notification about updating biometrics, I proactively installed it on the Mobile banking application. However, during the implementation process, an error occurred. I think that perhaps in the first days of implementation, the banking system was overloaded, so I sympathize. I will try again and choose a time when fewer people access to update. If it still doesn't work, I will definitely have to do it directly at the bank to avoid affecting my transactions."

Up to now, joint stock commercial banks in the province have implemented the requirement for account holders to authenticate biometrics when transferring money via online accounts or depositing money into e-wallets over 10 million VND/time or 20 million VND/day. To install biometrics in the Mobile banking application, customers can bring their chip-embedded citizen identification cards to the bank's transaction points for specific instructions; or they can install online by accessing the bank's Mobile banking application and following the steps instructed on the application. Ms. Nguyen Hai Tuyen, Deputy Head of Customer Transaction Department, BIDV Bank Dien Bien Branch shared: "BIDV Bank in general and BIDV Dien Bien in particular have notified all customers and supported customers to install biometrics. At the same time, assigned focal staff at transaction offices and branches to support customers after hours, on holidays and in densely populated areas to ensure the most convenient biometric installation work".

BIDV Bank staff guide customers to update biometrics.

According to statistics, the province currently has nearly 564,000 active bank accounts, including over 557,000 personal accounts. To help customers improve the security of their accounts and promptly comply with Decision 2345 of the State Bank, banks in the province are focusing on implementing measures to update biometric data. With the proactive support and guidance of banks, in the coming days, people should proactively update biometric information on the Mobile banking application to enhance security in transactions; at the same time, proactively plan financial plans and avoid affecting the progress of transactions in the coming time.

Source: https://baodienbienphu.com.vn/tin-tuc/kinh-te/216361/giai-phap-an-toan-trong-giao-dich-ngan-hang