The State Bank of Vietnam (SBV) has issued a warning to citizens regarding the use of online banking services and how to avoid the risk of losing money from their accounts.
According to the SBV, with the increasing sophistication of cybercrimes, banks have been implementing solutions to ensure information security, such as biometric authentication for money transfers as per Decision 2345. However, it is also crucial for citizens to enhance their awareness of cyber security and follow guidelines for safe electronic banking.
Citizens are advised to adhere to the regulations and instructions provided by their banks for online transaction services. It is recommended to enable notifications for transaction and balance changes.
When it comes to passwords for online transaction services, it is essential to use strong and unpredictable passwords that follow safety protocols. Regularly changing passwords and avoiding password-saving features for automatic login are also important precautions.
Never disclose your online banking username, password, or one-time password (OTP) to anyone, including bank staff, over the phone, email, social media, or the web.
In case your login credentials are compromised or suspected to be compromised, promptly notify your bank for timely assistance. If you lose your card, block it through your electronic banking app or inform your bank as soon as possible to prevent potential financial loss.
It is advisable to avoid using public computers or Wi-Fi networks when accessing electronic banking systems. Instead of clicking on pre-existing links, manually type the web address of your bank’s official website to ensure security.
Avoid public Wi-Fi for money transfers. Photo: Hoang Ha. |
Only install applications from official stores like Google Play and the App Store. When installing an app, carefully examine the developer information and the permissions requested by the app. Keep your device’s operating system up to date to benefit from the latest security patches released by the manufacturer.
For online shopping and payments, stick to reputable and licensed websites that provide clear contact information. Always safeguard your personal and account information.
Stay informed about online payment security warnings and updates from your bank and through mass media. Be vigilant, as there have been cases of fraudsters impersonating bank staff to assist with biometric installation and stealing user information for financial gain.
Banks advise customers never to provide OTPs, digital banking passwords, or any other sensitive information to anyone, including bank employees. Be cautious of suspicious links received via chat, SMS, or email, as they may be attempts to deceive and steal your data.
Banks will not directly contact customers to guide them through biometric enrollment or request personal information through calls, SMS, email, or messaging apps like Zalo, Viber, or Facebook Messenger.
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What should customers without an embedded-chip CCCD or NFC-enabled phones do? For customers without an embedded-chip CCCD (with a valid CCCD or ID card as per legal regulations) or those using non-NFC-enabled phones, a one-time in-person registration of biometric information at the bank counter is required for transactions over VND 10 million. After this, customers can perform transactions through Mobile Banking/Internet Banking without visiting the bank branch. In the future, when the Ministry of Public Security provides electronic identification and authentication services, banks will integrate Mobile Banking/Internet Banking applications with the national electronic identification and authentication system, allowing customers to register their biometric information through their electronic identification account provided by the Ministry of Public Security. |
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In 2023, according to statistics from the Information Security Portal (Ministry of Information and Communications), there were nearly 16,000 reports of online scams in Vietnam, resulting in estimated losses of VND 390,000 billion, equivalent to 3.6% of GDP. Among these reports, 91% were related to fraud in the banking and finance sector, a 64.78% increase compared to 2022. |
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