Security World 2019: security for banking and state management

Cyberattacks are increasingly complicated and dangerous with an increasing number of attacks, requiring a comprehensive security solution encompassing regulations, technology, and human resources.


That was stated at the 13th Security World conference under the theme "Enhancing data security and safety and security for the financial banking and state management agencies" organised by the Ministry of Public Security (MPS) in co-ordination with IDG International Data Group in Hanoi.

Security World 2019: security for banking and state management

Addressing the conference, Do Anh Tuan, deputy director of the Department of Cyber Security and Hi-Tech Crime Prevention under the MPS, mentioned the serious consequences of cyber attacks targeting banks around the world.

"The world has witnessed a lot of hacker attacks on the major bank systems of the world, stealing tens of millions of euros and dollars. Many banks and important information systems in Vietnam have also suffered many cyberattacks with great economic losses.”

According to Tuan, methods to steal card information and counterfeiting cards (skimming) are becoming sophisticated in Vietnam. Currently, Vietnam has about 70 million domestic cards which can be targeted by criminals.

“In 2018 and early 2019, many foreigners traveling to Vietnam used fake cards to conduct fraudulent transactions and pay bills/services via point-of-sale (POS) machines, stealing hundreds of millions of dollars,” Tuan said.

“Since the beginning of this year, the MPS has arrested more than 120 foreigners for this crime,” he added.

Besides, he also said that many groups organise online gambling via bank accounts, with millions of dollars changing hands each day.

At the end of April, the police broke up a gambling ring worth more than VND30 trillion ($1.3 billion) and arrested 29 people.

Meanwhile, Hoang Minh Tien, deputy director of the Department of Information Security, Ministry of Information and Communications (MIC), said, "The digital transformation of the economy in the field of finance-banking has brought a lot of non-cash payment options on mobile and internet platforms. There are many risks of information security due to increasingly sophisticated hacker attacks, causing increasingly serious economic damage, as well as damaging the reputation of financial and banking institutions."

Tien also said that there are five main trends in cybersecurity in Vietnam in 2019, including attacks on e-commerce and financial-banking systems to steal information and users’ data; attacks on state agencies and organisations; impersonating agencies, organisations, and individuals to spread malicious information on the cyberspace; using artificial intelligence to spread malware; attacking infrastructure or IoT devices.

Talking about preventing attacks on core infrastructure, Le Trong Duong, director of the Vietnam Computer Emergency Response Team (VNCERT), a government cybersecurity co-ordination center under the MIC, said that Vietnam is among the top ten countries with the highest incidence of computer zombies and the top three countries attacked by the cloudnet virus the world.

 

“In the first quarter of 2019, 28 million out of 79 million events of information insecurity discovered by VNCERT were classified as high danger level. The number of highly dangerous events is increasing,” he added.

According to Duong and other experts participating at the conference, to ensure security, besides the elements of technology, and regulations, human resources is very important.

“We should invest in human resources along with co-operating with professional security service providers. Users' awareness and data backup is also a crucial element,” Duong said.

The latest statistics from the State Bank of Vietnam show that there were 26 organisations providing e-wallet services for about 10,000 customers in Vietnam.

By the end of last year, there were 4.2 million e-wallets linked to bank accounts. On average, the whole banking system handled VND300 trillion ($13.04 billion) per day in 2018, up 25 per cent compared to 2017.

Meanwhile, according to the statistics of the National Cyber ​​Security Center under the MIC, in 2018 there were 10,220 cyberattacks on information systems in Vietnam.

Particularly, there were 5,932 phishing attacks; 3,198 interface change attacks; 1,090 attacks installing malicious code.

Particularly in the banking sector and business system connecting with banks, many sophisticated attacks took place, revealing customer data leading to worrying consequences. VIR

Phuong Hao

Cybercrime targets finance sector

Cybercrime targets finance sector

Vietnam’s cybersecurity was being compromised, posing new challenges in ensuring information safety, especially in the finance-banking sector, State agencies and organisations.  

Cyber-attacks double in Q1: VNCERT

Cyber-attacks double in Q1: VNCERT

Up to 4,770 cyber-attacks on Vietnamese websites were reported in the first quarter of 2019, doubling the figure recorded in the same period last year, according to the Vietnam Computer Emergency Response Teams (VNCERT).  

Vietnam can become a cybersecurity powerhouse: Minister

Vietnam can become a cybersecurity powerhouse: Minister

Vietnam can become a cybersecurity powerhouse thanks to its world-class cybersecurity human resources and the dream to become a powerful nation, local media quoted Minister of Information and Communications Nguyen Manh Hung as saying.  

 
 

Other News

.
Dialogue looks at Vietnam - EU maritime economic cooperation
Dialogue looks at Vietnam - EU maritime economic cooperation
SCI-TECH & ENVIRONMENTicon  20/08/2020 

A dialogue with the theme “Sustainable Maritime Development: Sharing Vietnam and EU’s Perspectives” took place in Hanoi on August 19 with over 150 in attendance.

Information and Communications Ministry sets eight key programs for the new period
Information and Communications Ministry sets eight key programs for the new period
SCI-TECH & ENVIRONMENTicon  19/08/2020 

“The ICT industry can create a pair of wings for the country to fly. One wing is digital technology and the other is communication," Information and Communications Minister Nguyen Manh Hung said.

Western sea dyke needs urgent protection
Western sea dyke needs urgent protection
SCI-TECH & ENVIRONMENTicon  19/08/2020 

Many sections of the western sea dyke in Ca Mau and Kien Giang provinces in the Mekong Delta have seriously eroded and could collapse at any time if prompt protective measures are not taken.

Vietnam takes the lead in ASEAN’s digital evolution
Vietnam takes the lead in ASEAN’s digital evolution
SCI-TECH & ENVIRONMENTicon  19/08/2020 

With its great potential in IT, Vietnam as ASEAN chair has been making efforts together with other member states in boosting the application of high technologies to adapt to the Fourth Industrial Revolution, which is sweeping regionwide.

Time to ensure security of water sources, safety of dams and lakes: experts
Time to ensure security of water sources, safety of dams and lakes: experts
SCI-TECH & ENVIRONMENTicon  20/08/2020 

Vietnam has recorded outstanding socio-economic development and has been lauded for it by the international community, but along with progress, the country is facing challenges with water management and security, an official has said.

Food donated to save zoo animals in HCM City
Food donated to save zoo animals in HCM City
SCI-TECH & ENVIRONMENTicon  18/08/2020 

Saigon Zoo has received tonnes of fruits and vegetables from donors across the country to feed the zoo animals after a recent plea from the managers.

Vietnam aims to be among top 30 countries for Global Cybersecurity Index
Vietnam aims to be among top 30 countries for Global Cybersecurity Index
SCI-TECH & ENVIRONMENTicon  17/08/2020 

By 2030 Vietnam will be listed as one of the top 30 countries for the International Telecommunication Union’s (ITU) Global Cybersecurity Index, targeted the national digital transformation program. 

Ben Tre province repairs eroded riverbank section
Ben Tre province repairs eroded riverbank section
SCI-TECH & ENVIRONMENTicon  16/08/2020 

The Mekong Delta province of Ben Tre is restoring a section along the banks of Ba Lai river that eroded when a temporary dam was removed along the banks.

Bluezone helps saves resources to fight against Covid-19
Bluezone helps saves resources to fight against Covid-19
SCI-TECH & ENVIRONMENTicon  16/08/2020 

If this app is deployed on a large scale enough, Bluezone will help save huge social resources and cost to fight Covid-19 epidemic in Vietnam, as well as help the economy resume operation under the new normal state.

5G network testing licences for Viettel, VNPT and MobiFone extended
5G network testing licences for Viettel, VNPT and MobiFone extended
SCI-TECH & ENVIRONMENTicon  16/08/2020 

The Telecommunications Department said that the Vietnam Post and Telecommunications Group’s (VNPT) license to test the 5G technology has expired and it has asked for extension. 

Ministry proposes solutions to raise Vietnam’s e-Government rankings
Ministry proposes solutions to raise Vietnam’s e-Government rankings
SCI-TECH & ENVIRONMENTicon  14/08/2020 

In its recent report on the UN’s e-government rankings, the Ministry of Information and Communications has proposed that Prime Minister direct and assign key tasks to ministries, branches and localities to implement a number of solutions

Make-in-Vietnam blockchain platform debuts to assist digital transformation
Make-in-Vietnam blockchain platform debuts to assist digital transformation
SCI-TECH & ENVIRONMENTicon  14/08/2020 

The Ministry of Information and Communications, on August 13, held a ceremony to debut the akaChain blockchain platform, as part of a programme introducing “Make in Vietnam” digital platforms.

Emergency declared as landslides occur in Hanoi
Emergency declared as landslides occur in Hanoi
SCI-TECH & ENVIRONMENTicon  14/08/2020 

The Hanoi People’s Committee has announced an emergency situation as landslides have occurred along rivers in the capital city.

Indigenous Australians 'farmed bananas 2,000 years ago'
Indigenous Australians 'farmed bananas 2,000 years ago'
SCI-TECH & ENVIRONMENTicon  13/08/2020 

Archaeologists say they have found ancient banana farms once managed by Australia's Indigenous peoples.

Vietnamese youth raise voices for a clean environment
Vietnamese youth raise voices for a clean environment
SCI-TECH & ENVIRONMENTicon  13/08/2020 

The International Youth Day celebration with the theme “Vietnam we want in 2030: Youth act for clean environment” was held on Wednesday in Hanoi by the United Nations (UN) in Vietnam and the Ho Chi Minh Communist Youth Union.

Revised environmental protection highlights recycling: National Assembly
Revised environmental protection highlights recycling: National Assembly
SCI-TECH & ENVIRONMENTicon  13/08/2020 

The principle of “considering waste as a resource” mentioned in the environmental protection bill introduced in the National Assembly’s meeting in April has been clarified, emphasising recycling and reusing.

Vietnam on track to make Covid-19 vaccine
Vietnam on track to make Covid-19 vaccine
SCI-TECH & ENVIRONMENTicon  16/08/2020 

Vietnam is one of 42 countries capable of producing a Covid-19 vaccine.

Vietnam warned of failing to implement domestic solid waste treatment plan
Vietnam warned of failing to implement domestic solid waste treatment plan
SCI-TECH & ENVIRONMENTicon  17/08/2020 

The slow development of a waste collection, transport and treatment system in Vietnam is caused mostly by limited financial resources.

Digital transformation still cannot reach SMEs
Digital transformation still cannot reach SMEs
SCI-TECH & ENVIRONMENTicon  17/08/2020 

Covid-19 has given a strong push to the digital transformation process in the last half of the year. However, this remains out of reach of small and medium sized enterprises.

Ninh Thuan faces water security problems
Ninh Thuan faces water security problems
SCI-TECH & ENVIRONMENTicon  16/08/2020 

Ninh Thuan is the driest province in the country. Severe droughts have been affecting the locality over many years, causing serious damage to agricultural production.

 
 
 
Leave your comment on an article

OR QUICK LOGIN