Regarding the system incident of VNDIRECT Securities JSC (HoSE: VND), late at night on March 25, the State Securities Commission (SSC) issued Official Letter No. 1837 warning about the security of the online securities trading system.
At the same time, securities companies are required to immediately implement the following contents to ensure the safe, stable and smooth operation of the stock market:
Firstly , ensure that the information technology (IT) system and backup database operate safely and continuously as prescribed in Clause 10, Article 89 of the 2019 Securities Law.
Second , proactively review and immediately check security plans for the company's IT system, especially the stock trading system and internet-connected systems to promptly fix security vulnerabilities (if any).
Third, conduct checks on online transaction processes; risk control processes; system and data backup processes; IT system operation management processes; develop measures to respond to and overcome potential security risks.
Fourth, in case the company detects signs of security insecurity, it must be proactive and focus resources to handle and remedy the situation; promptly report to the State Securities Commission; Stock Exchanges, Vietnam Securities Depository and Clearing Corporation (for member securities companies) and competent authorities for coordination in direction and handling.
The State Securities Commission requests VNDIRECT to seriously and urgently implement and report the results of the review, inspection, and remedial plan (if any) of the above contents before April 1, 2024.
VNDIRECT website status at 9:00 am on March 26.
Previously, at 10:00 a.m. on Sunday, March 24, 2024, VNDIRECT's entire system was attacked by an international organization, resulting in VNDIRECT's entire trading platform being temporarily inaccessible.
VNDIRECT's technology team has made every effort to restore, but due to the large data infrastructure, it will take more time to connect.
In order to ensure the safety of the trading system, on the morning of March 25, the Hanoi Stock Exchange (HNX) has just announced the temporary disconnection of remote trading and online trading of VNDIRECT on the listed securities trading markets, registered securities trading, derivatives trading, debt instrument trading and individual corporate bond trading.
On the same afternoon, the Ho Chi Minh City Stock Exchange (HoSE) also temporarily disconnected VNDIRECT's trading connection from March 25 until the company completely resolved the problem.
A similar incident occurred at the Post and Telecommunication Joint Stock Insurance Corporation (PTI). On the PTI homepage, there was a similar announcement that the system was attacked from 10am on Sunday, March 24.
Not only that, IPA Securities Investment Fund Management Company Limited (IPAAM) also appeared to be inaccessible.
Both PTI and IPAAM are related to VNDIRECT. Specifically, PTI has two largest shareholder groups: VNDIRECT and authorized shareholders (accounting for 42.33%) and DB Insurance Company - Korea (accounting for 37.32%).
Regarding IPAAM, this company was established in 2008 and is the only subsidiary of VNDIRECT (100% owned capital). However, by December 2023, VNDIRECT had completed the transaction of transferring 100% of its capital contribution at IPAAM to IPA Investment Group .
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