Cyber defence exercise in banking, finance sector to be held next week hinh anh 1Illustrative image (Source: VnEconomy)

Hanoi (VNA) – Experts will share experience in cyber security in the banking and financial sector during an exercise slated for October 11.

DF Cyber Defense 2022 aims to equip officials in charge of ensuring information safety in banking and financial organisations with new tactics, the National Cyber Security Centre (NCSC) under the Ministry of Information and Communications said on October 5.

The event will be co-organised by the Information-Technology Department at the State Bank of Vietnam (SBV), NCSC and IEC Group.

The organisers said more than 50 banking and financial organisations have registered to participate in the exercise, with 200 cyber experts.

In a study titled ‘Cybersecurity risks in digital banking: The case of Vietnam’, Dr Phan Chung Thuy from the University of Economics Ho Chi Minh City, said in recent years Vietnamese banks have embraced digital transformation and security risks.

The study cited Kaspersky as saying Vietnam ranks 21st in the world in terms of phishing attacks with 673,743 recorded in 2020, only after Thailand and Indonesia in Southeast Asia.

According to a survey by the Vietnam Information Security Association, more than 50% of cyber attacks are aimed at banks and financial institutions.

A report by the Ministry of Public Security’s Department of Cybersecurity and High-Tech Crime Prevention said that in 2020, banks lost nearly 100 billion VND (4.39 million USD) in 4,000 cyberattacks, with a single bank suffering a loss of 44 billion VND./.