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Network security under threat: BKAV

Network security under threat: BKAV

About 30 per cent of Vietnamese banking websites are vulnerable to hacking, the Bach Khoa Network Security (BKAV) has warned. — Photo infonet.vn
HCM CITY (Biz Hub) — About 30 per cent of Vietnamese banking websites are vulnerable to hacking, the Bach Khoa Network Security (BKAV) has warned.
Two-thirds of them are at a medium-level threat and the remaining at a very high threat level. "Most unsecured banking websites are newly established or emerging banks, which have not made enough investment for network security," Ngo Tuan Anh, BKAV deputy chairman in charge of network security, said. "For one information technology project, network security requires at least 10 per cent of investment," he added. Last month, TPBank lost US$1.13 million as hackers sent a fake money transfer. Banks in Bangladesh and the Philippines were attacked by the same hackers. According to Symantec security experts, hackers use an old version of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardised and reliable environment. There are not enough Vietnamese enterprises that pay attention to network security. According to internet security company Kaspersky Lab in Viet Nam, domestic enterprises are ready to spend $50 for hardware and software, but only $2.5 for security. "Security expenses for Vietnamese small- and medium-sized enterprises has only taken 5 per cent in total spending for IT every year," Trinh Ngoc Minh, deputy chairman of Southern branch of the Viet Nam Information Security Association, was quoted as saying in the Nguoi Lao Dong (Labourer) newspaper. "There are only few of these applying security standard like ISO 27001 or PCI. Weak security will increase risks in doing business and in online payments," he added. "Hackers are trying to attack business activities of enterprises, especially the internal financial data of big private and FDI companies." In its latest report, Kaspersky warned that international virus development has changed from stealing data and destroying equipment to overtaking data control and extorting money. — VNS Read on the original site