Monday, 08/09/2025
   

Implementing solutions for safety and security in online and banking card payment

On June 12, 2024, at the headquarters of the State Bank of Vietnam (SBV), Vietnam Banking Association (VNBA) organized a Conference on the implementation of Decision No.2345/QD-NHNN on the solutions to ensure the safety and security in online and banking card payment transactions. SBV Deputy Governor Pham Tien Dzung, Chairman of the National Cybersecurity Association, attended and gave a keynote speech at the Conference.
card payment
Implementing solutions for safety and security in online and banking card payment

Also attending the Conference, there were representatives of the SBV entities, the Department of Cyber ​​Security and Hi-tech Crime Prevention (A05) and the Police Department for Administrative Management of Social Order (C06) of the Ministry of Public Security, several credit institutions and payment service providers, etc.

Delivering his opening speech at the Conference, Deputy Governor Pham Tien Dzung acknowledged the efforts of Vietnam Banking Association, the credit institutions; the support of the entities under the Ministry of Public Security, and all relevant stakeholders in the arrangements for the implementation of Decision No. 2345/QD-NHNN. Currently, the activities of cyber crimes in general, cyber frauds in particular are getting more and more complicated with a large scale, causing serious economic damage and negative impacts on the social order and security. Fraudsters have a lot of sophisticated tricks, taking advantage of the deepfake technology in conducting their fraudulent acts.

Deputy Governor Pham Tien Dzung
Deputy Governor Pham Tien Dzung speaks at the Conference

Deputy Governor Pham Tien Dzung requested the SBV Payment Department and the Communication Department to coordinate and enhance the communication and information to disseminate widely and frequently the contents as stated in Decision No. 2345/QD-NHNN in order to raise the people's awareness and alertness, and to protect the customers’ rights.

The SBV Deputy Governor also proposed that the Ministry of Public Security continue to coordinate with the SBV to effectively implement Decision No. 2345/QD-NHNN, contributing to ensuring the safety and security in online and banking card payment transactions.

At the Conference, Mr. Tran Cong Huynh Lan, Chairman of the Technology Committee under Vietnam Banking Association, talked about the difficulties and obstacles, as well as made some recommendations for possible solutions for the effective implementation of Decision 2345/QD-NHNN from July 1, 2024. In the implementation process, the application of the Near Field Communication (NFC) technology to read data from the chip-based ID cards may meet various difficulties, since the NFC technology is not yet supported in many customers’ devices. The credit institutions will also have to invest in the infrastructure, pay authentication service costs and operational costs, etc. The VNBA’s Technology Committee also proposed some possible technical solutions and suggestions to improve the customers’ experience in preparation for the effectiveness of the Decision.

According to Mr. Pham Anh Tuan, Director General of the SBV Payment Department, the credit institutions and the payment service providers need to enhance their research and implementation of anti-deepfake technologies in order to prevent fraudsters from deceiving customers with the purpose of misappropriating their property, and to ensure compatibility with the biometric data stored in the chip-based ID card of each customer.

Also at the Conference, Mr. Vu Van Tan, Deputy Director General of the Police Department for Administrative Management of Social Order, shared that nowadays, cyber fraudsters have a lot of sophisticated tricks, focusing mainly on transactions through the banking accounts, causing the damage of up to VND 390 trillion in 2023, equivalent to 3.6% of GDP. Mr. Tan requested the credit institutions to enhance their data clean in accordance with Plan No. 01/KHPH-BCA-NHNN on the joint implementation of Scheme 06 to ensure the authenticity of customers’ information when opening payment accounts; and to review and investigate all accounts with suspicious transactions.

During the discussion session at the Conference, the participants also raised multiple opinions and comments, and the representatives of the VNBA’s Technology Committee and the SBV Information Technology Department provided their answers and made some clarifications for a number of contents in the Decision.

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