Currently, six credit institutions have successfully integrated with 173,716 social security accounts, facilitating the prompt delivery of benefits to recipients.

Speaking at the review conference on implementation of Project 06/QD-TTg of the Prime Minister of Vietnam and Plan 01/KHPH-BCA-NHNN of the MPS and SBV, Governor Nguyen Thi Hong affirmed that Project 06 is always an innovative move, a key task on the journey of national digital transformation.

“Banking is the first industry to integrate with the electronic identification and authentication system, utilizing VNeID accounts as soon as the Law on Identification and Decree 69/2024/ND-CP come into effect,” she said.

The SBV issued many circulars and decisions in coordination with the Ministry of Public Security, most notably Decision 2345/QD-NHNN on implementation of safety and security solutions in online payments and bank card payments.

According to experts, Decision 2345/QD-NHNN serves as a measure designed to safeguard stakeholder interests, enhance security, and mitigate risks and fraud. To effectively implement this decision, commercial banks have invested heavily in data infrastructure and funding for specialized personnel.

Mr. Le Van Tuyen, Deputy Director of the Payment Department, the SBV, said that, as of July 22, about 26.3 million bank accounts were authenticated biometrically via chip-embedded citizen identification cards, including 22.5 million accounts processed online and 3.8 million accounts handled in-person.

In addition, 37 credit institutions have deployed mobile authentication and 47 credit institutions authenticated at the counter. At the same time, 25 credit institutions have sent data to the Department of Administrative Police for Social Order (C06), MPS while 22 credit institutions are deploying on the VNeID platform.

In response to emerging fraud, including impersonation of bank employees for biometric authentication and schemes to mislead customers, experts recommend focusing on three key areas.

First, biometric authentication should only be conducted through the bank's official application, website, or in-person at the branch.

Second, never perform biometric authentication through unfamiliar or unofficial links, and do not provide confidential information to individuals requesting biometric authentication.

Third, never disclose account numbers, passwords, or OTPs to anyone, including bank employees.

To enhance security, the SBV adopts strong authentication measures in transactions and a monitoring mechanism to prevent unusual transactions in a timely manner.

Senior Lieutenant General Luong Tam Quang, Minister of Public Security, highly appreciated the strong direction and determination of the SBV and the entire banking sector. He also emphasized that the promulgation of regulations and instructive documents to complete the legal corridor such as the Law on Identification 26/2023/QH15, Decree 69/2024/ND-CP on electronic identification and authentication, Decree 13/2023/ND-CP on personal data protection, and the Law on Credit Institutions 2024 has facilitated the use of VNeID application.

The SBV official hoped that relevant MPS agencies will continue to work closely to propose appropriate solutions and directions, help the banking sector implement Project 06 effectively, prevent crimes and support digital transformation.