Banks cooperate in handling suspected fraudulent transactions

The banking system has warned users, preventing transactions at risk of fraud with an amount of about 1,500 billion VND. Banks will coordinate more closely through a handbook to coordinate support in handling accounts or cards with transactions suspected of fraud.

To date, the State Bank has collected about 600,000 accounts related to suspected fraudulent, counterfeit, and swindling transactions. Fraudsters often tend to transfer money through many different banks. This reality requires commercial banks to have close coordination to handle and trace the flow of money. Based on the manual, the parties will agree on a process for receiving, verifying, and handling requests for support related to suspicious transactions.

Mr. Nguyen Minh Phuong - Head of the Risk Management Subcommittee, Bank Card Association said: "In addition to the State Bank having a banking warning system, this handbook helps in handling the situation later if customers have made suspicious risky transactions so that member units can stop or handle them immediately in the shortest time. This provides a safe and best environment for card transactions as well as money transfer transactions".

Ms. Le Thi Hong Nhung - Deputy Head of Napas Service Operation Monitoring Center shared: "Maybe in the first transaction the customer warns the bank, we cannot immediately prevent that transaction. However, we can exclude those accounts from the banking system as well as prevent the next cash flow, that is, prevent the next fraudulent transactions".

As planned, banks will incorporate the handbook into their internal processes and provide training to departments such as call centers, risk management, legal affairs, etc. to standardize implementation processes, increase automation, and trace money flows suspected of fraud.

Mr. Nguyen Quoc Hung - General Secretary of the Vietnam Banking Association commented: "It will limit the flow of money into an account and transfer it to other accounts and transfer it to multiple accounts at the same time, credit institutions can coordinate with each other. First of all, check whether that account is fraudulent or not, if there are signs of fraud or scam, this account can be immediately held so that the fraudulent money cannot go out."

The banking association also said it will coordinate more closely with the Ministry of Public Security to prevent and promptly handle fraudulent transactions, contributing to protecting the legitimate rights of customers and ensuring the safety of the payment system.

Source: https://vtv.vn/ngan-hang-phoi-hop-xu-ly-cac-giao-dich-nghi-ngo-gian-lan-lua-dao-100251021181853209.htm