Vietnamese Internet Banking Proven Unsecured

Twenty among 52 banks in Vietnam examined by the Bach Khoa Inter-network Security Center (BKIS) were proven to be unsecured, regarding their internet banking services. These include large and reputable banks. Nguyen Minh Duc, BKIS Inter-network Security Division director, reported at a workshop entitled, “Network Security Vulnerabilities for Internet Banking in Vietnam and Solutions”, which was held by BKIS on April 14 to warn banks and improve their understanding of network security and the need to secure internet banking systems in Vietnam.

Representatives of more than 50 banks across the country attended the workshop to see BKIS experts show network security vulnerabilities for internet banking systems in Vietnam. The experts warned of the potential consequences of network security vulnerabilities. For example, the vulnerabilities in the money transfer function may make the fall victim to fraudulent money transfers. Banks’ password recovery function may also be used for changing the account user’s password. The use of the question and complaint forms for consumer responses could be used to install dangerous codes into the server and control the internet banking system.

Statistics show that 80 percent of banks throughout the country have set up or are setting up internet banking solutions. However, concurrent with the development of internet banking is increasing risk for banks to be attacked by network criminals.

Duc said that network security vulnerabilities for Vietnamese banks are largely due to the shortcomings, regarding the process of independent security assessment of internet banking systems, and application of standards on information security. BKIS experts also gave solutions for banks to overcome the risk to their internet banking systems such as independent assessment to indicate the weaknesses in their systems, implementation of ISO 27001 standard on information security management, overall computer anti-virus solutions and application of digital signature certification to secure bank transactions.

VEN

Tags: Vietnam IT, Vietnamese Internet Banking

Posted by VBN on Apr 27 2010. Filed under Banking-Finance, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry