31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Vietnam is safest in Southeast Asia for virtual finances: Kaspersky
Anh Kiet 10:38, 2022/07/13
The rate of fraud related to banks, payment systems, and online stores in Vietnam is lower than other countries in the region.

Kaspersky Lab, a Russian leading security software manufacturer and distributor, has recently described Vietnam as the safest country in Southeast Asia against the threat of financial attacks on banks, payment systems, and online stores.

Yeo Siang Tiong, Kaspersky Lab’s general manager for Southeast Asia, told local media that the company's recent statistics showed the rate of fraud related to banks, payment systems, and online stores in Vietnam was lower than that of other countries in the region.

 File photo. Source: datalinknetworks.net

The scam rate was 26.36% in Vietnam while it was 40.87% in Indonesia, 46.77% in Malaysia, 64,03% in the Philippines, 51.6% in Singapore, and 56.35% in Thailand, Yeo Siang Tiong said.

He added that Vietnam's efforts in ensuring the security of virtual financial activities have been considerable.

Yeo pointed out that the increase in online transactions in Vietnam during the Covid-19 pandemic occurred in parallel with the rise of fraud conspiracies through the use of fake pages which impersonate popular payment systems such as Visa, Mastercard, and PayPal, among others.

Based on Vietnam’s remarkable numbers in the region, the general manager noted that online transactions and shopping of users in the country are increasingly improving every day.

This can be attributed to the ongoing efforts of the Vietnamese Government to raise awareness of financial and data security in the context that mobile banking and electronic wallets have been flourishing in the region, Yeo added.

According to the Asia-Pacific Digital Banking and Financial Technology 2025 report by Backbase, mobile transactions are forecast to increase by 300% in Vietnam by 2025, thanks to the rise of the digital economy.

Vietnam is definitely ready for a quick digital transformation as well as ensuring a safer financial environment for organizations and individuals due to strong infrastructure and threat intelligence sharing, Yeo confided.

The State Bank of Vietnam also set goals to develop a digital government with specific solutions to promote digital payments and prepare infrastructure and conditions to meet national and specialized database connection network security criteria.

TAG: Southeast Asia virtual finances Kaspersky
Other news
15:42, 2022/42/14
Hanoi's startups to attend training course in Singapore
The program will open up cooperation and exchange opportunities between Vietnam's startups and Singapore's typical innovation partners.
21:43, 2022/43/02
FPT supports Danish firm to build first smart jewelry manufacturing factory in Hanoi
The new manufacturing plant is set to be completed by the end of 2023 in the sizable hi-tech industrial zone.
06:24, 2022/24/26
The 2022 Vietnam Innovation Challenge kicks off in Hanoi
The 2022 Vietnam Innovation Challenge aims to boost digital transformation for Vietnamese enterprises.
22:11, 2022/11/19
Vietnam Blockchain Summit 2022 opens in Hanoi
Vietnam’s blockchain market value is expected to reach nearly $2.5 billion by 2026, a five-fold surge from 2021.
17:23, 2022/23/13
Two Hanoi scientists named among world’s most influential researchers
The scientists have seen their ranking improve significantly over 2021.
15:07, 2022/07/12
Vietnam to host the first blockchain summit
Vietnam’s blockchain market value is projected to reach nearly $2.5 billion in 2026, a fivefold increase from 2021.