State Bank prevents more than 1,500 billion VND in online fraudulent transactions

In recent times, the banking industry has synchronously deployed many technological and legal solutions, thereby preventing more than VND 1,500 billion in suspicious transactions; reducing the number of individual customers being scammed by nearly 60% compared to the same period in 2024.

Director of the Department of Information Technology Le Hoang Chinh Quang shared at the press conference

At the press conference on the morning of October 3, Director of the Information Technology Department, State Bank of Vietnam (SBV) Le Hoang Chinh Quang said that recently, to proactively respond to online fraud, SBV has synchronously deployed 4 groups of solutions.

Accordingly , the State Bank has issued a group of related documents to ensure information security and data confidentiality in the industry, including Circular No. 50/2024/TT-NHNN regulating safety and security for providing online services in the banking industry, with specific regulations on conditions, standards, regulations, and methods to ensure transactions on the internet environment.

The banking industry has actively deployed technological solutions, enhanced biometric authentication solutions and electronic signatures depending on transactions; increased the application of technology such as artificial intelligence (AI) to warn and detect early unusual and suspicious transactions; at the same time, the State Bank of Vietnam deployed a system to monitor payment accounts and e-wallets suspected of being counterfeit.

Currently, about 600,000 accounts have been collected, with 300,000 warnings to stop suspicious transactions, preventing 1,500 billion VND.

In addition, the State Bank has increased propaganda and warnings to people about security and safety and fraud prevention.

At the same time, closely coordinate with the authorities (police) in the process of fighting and handling fraud crimes in cyberspace.

Also according to Mr. Le Hoang Chinh Quang, in recent times, the State Bank has resolutely implemented Project No. 06. The State Bank is actively pioneering in connecting with the National Data Center to perform public services, bringing all public services to the National Public Service Portal.

In terms of credit information data, 44.5 million customer records have now been cleaned.

Compared to the same period in 2024, the number of individual customers who lost money has decreased by 59%; the number of accounts receiving fraudulent money has decreased by 52%.

However, Mr. Quang said that when the State Bank has regulations relating biometrics to personal accounts, criminals tend to switch to business accounts. The State Bank is coordinating with the Ministry of Public Security to review and amend the legal framework, promptly issuing a Circular amending and supplementing Circular No. 50, which further adjusts regulations on business accounts that are at high risk of being exploited for fraud and property appropriation.

Source: https://daibieunhandan.vn/ngan-hang-nha-nuoc-ngan-chan-hon-1-500-ty-dong-giao-dich-lua-dao-truc-tuyen-10388994.html