MoMo is determined to fight online gambling.

SGGPO 10/11/2023 08:23

MoMo always actively cooperates and supports the review and provision of information on transactions showing signs of violations, helping the police to promptly detect and apprehend criminals.

MoMo, a familiar financial application for mobile users.

Recently, the media reported that the Bac Giang Police have completed their investigation and recommended the prosecution of several defendants in a gambling ring that used MoMo transaction codes. This case was dismantled by the Bac Giang Police in December 2022.

In this case, MoMo actively cooperated and supported the Bac Giang Provincial Police in reviewing and providing information on transactions showing signs of violations, helping the police to promptly detect and apprehend criminals. This is an issue that needs to be clearly understood, highlighting the efforts of businesses in working with authorities to combat crime.

MoMo representatives actively participate in forums on combating cybercrime.

In 2022, MoMo also collaborated with 318 central and local police agencies and units, providing information in over 1,500 investigation cases, which was highly appreciated by the aforementioned agencies and units. MoMo was honored to receive letters of thanks and certificates of commendation from police agencies in the provinces of Bac Giang, Binh Duong, Lang Son, Nghe An, Ha Tinh , Quang Nam, Kon Tum, etc.

Mr. Nguyen Ba Diep, co-founder of MoMo

According to Mr. Nguyen Ba Diep, co-founder of MoMo, to help prevent online gambling, MoMo has invested heavily in researching various technological solutions, with over 100 experts and engineers, at a cost of tens of billions of VND over more than a year from December 2021 to February 2023. This is a very challenging problem because criminals rely on the transaction codes of e-wallets for gambling; if these codes are canceled, it would be impossible to distinguish between different types of transactions or to trace transactions across the entire system.

In February 2023, MoMo changed its business processes, upgrading the MoMo application to version 4.0.16. In this upgrade, the application displays the transaction code to the sender before the transaction is completed, instead of displaying it afterward as before. Simultaneously, MoMo integrated v-key technology (https://www.v-key.com/) into its system to prevent gambling activities using emulators to access the application and automatically scan transaction codes for betting purposes. As a result, MoMo noted that most large-scale gambling activities involving odd/even betting have been effectively prevented and eliminated.

MoMo always has programs to develop its technology.

The company is also testing various new technologies such as facial recognition, fraud detection through AI, and Big Data to improve the efficiency of customer identification and verification. However, malicious actors still find ways to exploit e-wallets to commit illegal acts, such as using the identities, documents, and bank accounts of people they rent or borrow to create multiple e-wallet accounts, making it difficult to verify violations.

“MoMo has petitioned the authorities to allow payment intermediary businesses and e-wallets to connect with the National Population Database managed by the Ministry of Public Security to help with electronic identification and verification of user information quickly and accurately, contributing to the review and prevention of suspicious accounts and transactions, and increasing the effectiveness in preventing and combating cybercrime,” Mr. Nguyen Ba Diep shared.

To protect users and prevent crime, MoMo has implemented user account identification and management in accordance with the law and the State Bank of Vietnam. Specifically, one citizen identification card (CCCD/CMND) can register up to three MoMo accounts. However, one phone number can only register one MoMo account. To use MoMo, users need to use their CCCD/CMND to verify that the information matches their phone number and bank account.

MoMo offers many conveniences in daily life.

According to regulations from the State Bank of Vietnam, the spending limit for e-wallets is 100 million VND per month. If a user has 2 or 3 phone numbers registered with one Citizen Identification Card (CCCD/CMND), the total monthly limit for all accounts will still only be 100 million VND. This is something MoMo users need to be aware of and understand.

Through its efforts and achievements, MoMo affirms its commitment to providing and operating safe and sound payment intermediary services in accordance with the directives and guidelines of the Government and the State Bank of Vietnam.

"In the fight against online gambling and harmful information on the internet, we propose and hope for continued support from relevant authorities to improve the effectiveness of preventing and combating violations of the law, and to recommend investigating and strictly handling gambling cases as mentioned above to deter and warn others, while protecting stable business operations and safeguarding the legitimate rights and interests of users and businesses," said Mr. Nguyen Ba Diep.

Source: https://www.sggp.org.vn/momo-kien-quyet-chong-co-bac-online-post713474.html