29,000 cases of fraud related to cybercrime were reported in Q1 2024, focusing on the financial sector, particularly securities companies. This is a major warning for firms to seriously review, clean, and standardize securities investor data. This ensures the safety of customers and supports data management for the firm, while preventing increasingly complex attack risks.
Continuous cyberattacks occurring
- 17.1 million malware infections and over 36,000 financial fraud cases targeting businesses in Vietnam have been detected and prevented.
- Cyberattacks, loss of funds in securities accounts.
- The malware attack incident at VNDIRECT Securities Company…
- Fraud, money laundering, illicit transactions…
Trends in Securities Investor Identification
The upgrading of security systems and the implementation of solutions for identifying and verifying securities investors have been actively carried out by securities firms. This is considered a crucial solution for the securities sector in Vietnam in 2024. It helps to:
- Confirm that the person conducting the transaction is a legitimate investor, preventing identity fraud or unauthorized account transactions.
- Protect investors’ personal information and assets from cyberattacks and data breaches.
- Enhance transparency, increase investor trust, and promote the sustainable development of the securities market.
- Organize and manage investor data effectively.
Requirement to review and clean securities investor data
On July 19, 2024, the State Securities Commission issued an official letter requiring securities companies to review, clean, and standardize individual investor data (as per Official Letter No. 4501/UBCK-CNTT). Accordingly, firms are required to seriously implement and report the results to the State Securities Commission and VSDC by August 31, 2024.
Read more: Cleaning and Standardizing Securities Investor Data as Required by the SSC
Meeting all business, security, and legal requirements, GMO-Z.com RUNSYSTEM provides securities companies with a fast, reliable, flexible, secure, and cost-effective solution for investor identification and verification.
For detailed consultation, please contact the Hotline: 097 583 0096 or Email: ssolutions@runsystem.net | Website: https://ssolutions.vn
