SBV urges customer information security

The State Bank of Vietnam (SBV) has issued a decree asking businesses to enhance customer information privacy after an alleged breach of mobile retail chain The Gioi Di Dong (Mobile World) revealed personal information of more than five million customers.
sbv urges customer information security

Customers should think carefully before providing personal information on the Internet. (Source:genk.vn)

The breach hit the headlines last week after a hacker posted three files including more than five million emails, 31,000 bank card numbers and transaction histories on RaidForums.

The Gioi Di Dong quickly denied it was the source of the stolen data. The company said it did not store any information related to customers’ bank card numbers or transaction history, adding that banking information is processed by payment service providers, meaning the information could not have been stolen from The Gioi Di Dong. The company said its information system was safe and operating normally.

On November 10, the Authority of Information Security under the Ministry of Information and Communications said it had found nothing to indicate The Gioi Di Dong’s system had been hacked.

After working with the company, the Authority of Information Security said the emails and bank numbers were likely collected from other sources and did not have anything to do with The Gioi Di Dong.

Still, the breach was alarming. The origin of more than five million emails and 31,000 bank card numbers has not been identified.

The SBV asked payment service providers and intermediaries to work with The Gioi Di Dong to identify the cause and monitor the transactions of cards involved in the breach to protect customers.

The central bank also asked payment service providers to comply with customers’ information privacy regulations.

The SBV said in a note on its website on November 10 that initial reports from banks had not found any cases of account appropriation of customers with cards exposed by the breach. However, the breach caused security concerns among customers.

The central bank said it would work closely with other management agencies to uncover the hackers and their motives and dole out punishments in accordance with established laws.

Several days after The Gioi Di Dong’s alleged breach, a hacker posted data which was said to be stolen from baby product retailer Concung.com and threatened to publish data stolen from technology retail chain FPT Shop.

According to security forum WhiteHat, the data said to have been taken from Concung.com included names, positions and working addresses of more than 2,200 employees. More than 2,100 phone numbers, 1,130 emails, 2,200 identity card numbers and 1,390 portraits were also revealed.

According to the Authority of Information Security, cyber attacks designed to steal personal information of customers became more common in 2018.

In Document No 8511/NHNN-TT, the authority asked firms to enhance customer privacy and information security.

Data collection, storage, processing and transmitting must be encoded to comply with security regulations.

The authority urged customers to think carefully before providing personal information to online services and to regularly change passwords.

Ngo Anh Tuan from security company BKAV said enterprises should invest in security systems, especially firms with retail stores and online marketplaces.

Source: VNA

Related News

Four challenges that put pressure on monetary policy management

Four challenges that put pressure on monetary policy management

VCN - According to the State Bank of Vietnam (SBV), monetary policy in the coming time will face many pressures, including the impacts of the international context and the continued implementation of the policy of reducing interest rates.
Difficulty in finding banks eligible to receive compulsory transfers

Difficulty in finding banks eligible to receive compulsory transfers

VCN - Reporting to the National Assembly, the State Bank of Vietnam (SBV) said that one of the difficulties in restructuring the credit institution system is the long process of finding and negotiating banks eligible to receive compulsory transfers.
Pressure on exchange rate plunges

Pressure on exchange rate plunges

VCN – The State Bank of Vietnam (SBV) has taken measures including intervening in the foreign exchange market and tightening liquidity to reduce pressure on the Vietnamese dong exchange rate.
Businesses flexibly navigate exchange rate fluctuations

Businesses flexibly navigate exchange rate fluctuations

VCN - Exchange rate fluctuations increase cost pressures for businesses when importing raw materials as well as for USD-denominated loans. However, some units have found quite effective solutions to mitigate the shock caused by exchange rates.

Latest News

Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN – Motivated by the revenue collection by the end of December 2024, the General Department of Taxation has accomplished the revenue collection.
General inventory of public assets raises efficiency of use and management of country

General inventory of public assets raises efficiency of use and management of country's resources

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by a representative of the Department of Public Asset Management (Ministry of Finance) at the press conference on the implementation of the General Inventory Project of public assets organized by the Ministry of Finance on the afternoon of December 18.
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN – Important national projects, inter-regional transport projects, riverbank and coastal erosion treatment projects all have disbursement rates lower than the estimated average disbursement rate of the whole country, the Ministry of Finance said.

More News

Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
PM urges stronger measures to manage interest rates

PM urges stronger measures to manage interest rates

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to proactively, flexibly, promptly, and effectively manage the monetary policy in combination with the expansionary fiscal policy and others.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
Vietnamese products: Conquering foreign customers in supermarket systems

Vietnamese products: Conquering foreign customers in supermarket systems

VCN - According to the Ministry of Industry and Trade, the proportion of Vietnamese goods in distribution channels currently reaches more than 80% in supermarkets and 60% or more in traditional retail channels. For many retailers, Vietnamese goods have become a growth driver as they not only do business successfully in the domestic market but also export.
Answering many questions from businesses at dialogue conference on tax and customs policies

Answering many questions from businesses at dialogue conference on tax and customs policies

VCN - Many opinions and recommendations related to tax and customs issues were raised by the business community at the dialogue on tax and customs policies and administrative procedures in 2024, organized by the Ministry of Finance.Representatives of the Ministry of Finance, the General Department of Taxation, and the General Department of Customs provided specific responses, and affirmed that they will continue to research and advise on the assessment, review, and amendment and supplementation of appropriate regulations.
Enterprises face difficulties in tax refunds due to partners closing

Enterprises face difficulties in tax refunds due to partners closing

VCN - On December 13, at a dialogue conference on tax and customs policies and administrative procedures organized by the Ministry of Finance in coordination with the Vietnam Chamber of Commerce and Industry (VCCI), enterprises proposed solutions to many problems related to tax policies such as VAT refunds, tax declaration procedures, electronic invoices, etc.
Strengthen the management and use of electronic invoices for e-commerce

Strengthen the management and use of electronic invoices for e-commerce

VCN - Prime Minister Pham Minh Chinh requested ministries, branches and localities to strengthen the management and use of electronic invoices and improve the efficiency of tax collection for e-commerce.
Ministry of Finance proposes comprehensive amendments to the Personal Income Tax Law

Ministry of Finance proposes comprehensive amendments to the Personal Income Tax Law

VCN - The Ministry of Finance has just completed the proposal to draft the Personal Income Tax Law (PIT) and officially solicited public comments. By amending and supplementing nearly 90% of the total number of articles of the current PIT Law, the Ministry of Finance has submitted to the Government for permission to propose the draft PIT Law to replace the PIT policy system. The project is expected to be approved by the National Assembly in May 2026.
Expansionary fiscal policy halts decline, boosts aggregate demand

Expansionary fiscal policy halts decline, boosts aggregate demand

VCN - Customs News interviews Ms. Nguyen Thanh Nga, Deputy Director of the Institute for Financial Strategy and Policy (Ministry of Finance).
Read More

Your care

Latest Most read
Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
Tax sector achieves revenue target of about VND1.7 million billion

Tax sector achieves revenue target of about VND1.7 million billion

VCN - With the determination to accomplish the revenue collection to create resources for economic development under the Prime Minister's direction, the entire Tax sector has made efforts to perform the revenue collection in the last days of 2024.
General inventory of public assets raises efficiency of use and management of country

General inventory of public assets raises efficiency of use and management of country's resources

VCN – The implementation of the General Inventory Project by the Ministry of Finance, ministries, central and local agencies has ensured progress according to Project 213 and the plan issued by the Ministry of Finance. This is the information provided by
Publicizes progress of public investment disbursement for important national projects

Publicizes progress of public investment disbursement for important national projects

VCN - The Ministry of Finance has issued Document No. 13213/BTC-DT to publicize the progress of public investment disbursement of key national projects.
Six SOEs to be transferred back to industry ministry

Six SOEs to be transferred back to industry ministry

Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
Mobile Version