Security crucial in the digital transformation process

Ransomware attacks increased sharply in 2021 and would continue to do so, VSEC said, adding that ransomware infections had spreadnbsp;rapidly due to the growth of online learning and working platforms.

A text message from a bank warns about fraudulent links which may steal money from the users' accounts. Enhancing network information security and safety was a crucial factor in the digital transformation process. — Photo nld.com.vn

Enhancing network information security and safety was a crucial factor in the digital transformation process, the Vietnamese Network Security Joint Stock Company (VSEC) has said, warning that phishing attacks targeting the financial and banking industry might increase.

In a recent report, VSEC said that ransomware attacks, silent attacks on technology apps and attacks in the financial and banking industry were three major trends this year.

Ransomware attacks increased sharply in 2021 and would continue to do so, VSEC said, adding that ransomware infections had spread rapidly due to the growth of online learning and working platforms.

According to statistics by Cybersecurity Ventures, ransomware attacks caused an average loss of around US$102.3 million per month globally. In Việt Nam, the number of computers attacked by data encryption viruses in 2021 was more than 2.5 million, 4.5 times higher than 2020, according to a survey by Bkav. Most users were still confused and did not know how to respond when their computer was infected with malware.

The digital transformation process in Việt Nam has witnessed many remarkable achievements but to develop sustainably, the process must go hand in hand with information security, VSEC said, warning that many organisations and businesses had not paid adequate attention to ensuring network information security and safety, which created holes for hackers to spread ransomware.

VSEC also pointed out that silent attacks on technology apps would also be a trend as the COVID-19 pandemic had forced a number of businesses to digitalise to operate and serve customers, leading to increased demand for technology apps. The design and launch of apps without adequate investment in information security would make users easy prey for hackers.

Phishing attacks have been on the rise since last year and continue to be a big threat to organisations and businesses, especially those in the banking and finance industry.

The COVID-19 pandemic had led to a sharp increase in the demand for online transactions and payments, creating room for hackers to target online banking services and e-wallets, VSEC said.

Phan Chung Thủy from the University of Economics HCM City cited Karpersky’s findings that Việt Nam ranked 21st in the world with more than 670,000 phishing attacks in 2020.

A survey by the Việt Nam Information Security Association showed that more than 50 per cent of attacks targeted financial and banking institutions.

Thủy said that banks must pay special attention to information security during the digital transformation process.

VSEC said that attacks would continue to increase in 2022 as awareness about information security of many users remains limited. Maintaining network information security monitoring and security testing would help enterprises and organisations to respond quickly when an incident occurred.

Previously, the Authority of Information Security under the Ministry of Information and Communications said that phishing attacks were the main trend in cyberattacks this year, besides targeted attacks to spread malicious code in order to obtain control of Internet of Things devices such as cameras and attacks on cloud platforms.

The ministry’s statistics showed that more than 1,000 fraudulent websites were handled during the past year. The department also provided warnings about fraudulent websites to users at the address canhbao.ncsc.gov.vn. — VNS

Source: VNA
vietnamnews.vn

Related News

Digital transformation in Customs sector is a revolution

Digital transformation in Customs sector is a revolution

VCN - This content was emphasized by Deputy Director General Tran Duc Hung at the Workshop introducing the requirements of technical process serving the construction of the Information Technology (IT) System to implement Digital Customs organized by the General Department of Customs on October 24, 2024.
Ba Ria-Vung Tau Customs cultivates a stronger relationship with enterprises

Ba Ria-Vung Tau Customs cultivates a stronger relationship with enterprises

VCN - Ba Ria - Vung Tau Customs Department held a conference to review the development of Customs - Business partnership.
Tax support policy is a "lift" for business bounceback

Tax support policy is a "lift" for business bounceback

VCN- Sharing with Customs Magazine, economic expert, Associate Professor, Dr. Dinh Trong Thinh highly appreciated the effectiveness of tax and fee reduction measures implemented by the Government and the Ministry of Finance. These policies not only enable businesses to reduce input costs and increase profits, but also promote consumption and production of businesses.
HCM City Customs to benefit from Korean Customs

HCM City Customs to benefit from Korean Customs' digital transformation expertise

VCN - HCM City Customs Department is in the process of promoting digital transformation, and Korean Customs is willing to share experiences so that HCM City Customs Department can soon achieve this goal.

Latest News

Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3.92%.
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

VCN - Discussing in groups about the project "1 law amending 7 laws" in the financial sector according to the program of the 8th Session on October 29, 2024, National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigned by the Prime Minister.

More News

State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

VCN - According to the report sent to the National Assembly before the 8th Session of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Stipulate implementation of centralized bilateral payments of the State Treasury at banks

Stipulate implementation of centralized bilateral payments of the State Treasury at banks

VCN - The Ministry of Finance (MOF) gathers feedback on the draft Circular regulating the management and use of accounts of the State Treasury opened at the State Bank of Vietnam (SBV) and commercial banks.
Rush to finalize draft decree on public asset restructuring

Rush to finalize draft decree on public asset restructuring

VCN - According to the Ministry of Finance, the draft Decree regulating the rearrangement and handling of public assets is being urgently completed by the Ministry of Finance to submit to the Government for promulgation.
Inspection report on gold trading activities being complied: SBV

Inspection report on gold trading activities being complied: SBV

The State Bank of Vietnam (SBV) has announced that inspections on compliance with legal policies in gold trading activities of credit institutions and gold trading businesses have been completed and an inspection report is being compiled.
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

VCN -The Government estimates that state budget revenue in 2024 will exceed VND 172.3 trillion, up 10.1% over the estimate, of which tax and fee revenue will reach 13.1% of GDP.
Ensure timely and effective management and use of public asset

Ensure timely and effective management and use of public asset

VCN – In order to promptly and effectively implement public asset management and use, ensuring compliance with legal regulations, the Ministry of Finance has just issued an official dispatch requesting ministries, branches and localities to comply with regulations in the Government’s Decree No. 114/2024/ND-CP dated September 15, 2024.
Accelerating decentralization in public asset management

Accelerating decentralization in public asset management

VCN - Amending the Law on Management and Use of Public Assets aims to improve regulations on accelerating decentralization and improving efficiency in management and use of public assets, and promoting financial resources, ensuring that the unified application the Law on Management and Use of Public Assets and other legal documents.
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.
Businesses can choose a suitable electronic invoice model generated from the cash register

Businesses can choose a suitable electronic invoice model generated from the cash register

VCN - The Ministry of Finance said that individual business households can choose a suitable model to apply electronic invoice solutions from cash registers, depending on the number of invoices used in the year, in the month and the current status of software solutions and technical infrastructure.
Read More

Your care

Latest Most read
Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigne
State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

According to the report of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Mobile Version