Banks need to invest more in security technology

Banks need to invest more in technology and operations staff, modernizing systems to ensure transaction safety.

Recently, at some banks, there have been incidents of risk and fraud in payment activities, as well as card payments and electronic payments. Suddenly losing money from hundreds of millions to tens of billions of dong in bank accounts has made many people using card payment services and electronic payments feel insecure.

Specifically, a customer who opened an account at the Joint Stock Commercial Bank for Foreign Trade of Vietnam lost 500 million VND in his card account in just one night; at the Joint Stock Commercial Bank for International Trade (VIB), a customer also had 3 purchases made by a thief for more than 1,500 USD.

To conduct safe banking transactions, customers need to comply with information security regulations.

Or recently, Ms. Tran Thi Thanh Xuan, Director of Quang Huan Company in Ho Chi Minh City, complained about the loss of 26 billion VND in her account at Vietnam Prosperity Joint Stock Commercial Bank (VPBank)... These incidents show that the security of customer information at banks needs to be further strengthened.

As a long-time ATM card user and frequent online payment user, Ms. Hoang Thu Hang, in Cau Giay, Hanoi, expressed that online payment is very convenient because she can choose products and pay without having to move, or transfer money to people in remote areas without having to go to bank locations. "Recently, there have been consecutive customers losing money in their bank accounts, making many account holders worried. I hope that banks will have measures to secure information and avoid losing money in customers' accounts," Ms. Hang suggested.

According to experts in the field of network security, banks have invested in equipping quite modern security systems. However, security still depends a lot on the team of information technology engineers operating the system with the requirement that no errors can occur. Therefore, in addition to building a tight security system, the human factor must also be taken into account.

Mr. Dao Gia Hanh, Technology Director of FPT Information System Company, said that banks need to increase investment in information technology technical staff, grasp and update modern security methods, ensuring high security for customers. For users of services, it is necessary to comply with the regulations of the bank.

“To avoid risks when transacting online banking services, users must protect themselves first. Computers and phones should reinstall anti-virus software when receiving emails from unknown sources, not acquaintances, or strange links. Do not click on those links. In case of suspicion, call the customer care center of the service provider to clarify, thus limiting unfortunate risks,” Mr. Hanh advised.

Developing non-cash payments and promoting e-commerce are inevitable trends as our country integrates more and more deeply into the international economy. In fact, the number of users of e-payment services is increasing. However, in addition to the conveniences, the risk of bad guys taking advantage of the internet to attack and profit from e-payments is also increasing.

Mr. Bui Quang Tien, Director of the Payment Department, State Bank of Vietnam, said that to minimize risks, ensure security, safety and confidentiality in electronic payment activities, banks must regularly monitor, supervise, evaluate and further improve business processes; and upgrade information technology systems.

“The security, safety and protection of customers’ rights of commercial banks must ensure superior technology, and comprehensive attention must be paid to security and safety when implementing them. The State Bank requests that units, especially banks providing intermediary payment services as well as payment services to customers, properly perform their tasks and guide customers to perform the correct operations to avoid being exploited by hackers,” Mr. Tien pointed out.

It is expected that this September, the State Bank will organize an industry-wide conference on payment activities and information technology, with representatives from the Ministry of Public Security, the Ministry of Information and Communications, the Banking Association, commercial banks, etc. to discuss solutions to strengthen state management of payment activities and information technology in the banking sector.

From reality as well as experience, perfecting business processes in the payment field, security solutions in new conditions, hopefully the banking industry will ensure safety and efficiency of payment activities through banks, as well as ensure the rights of people and banks in the coming time./.

According to VOV