The commendation was presented at the conference for signing and implementing the coordination regulations between the Ministry of Public Security and the State Bank of Vietnam on combating online fraud, held on 23/6.

According to the Ministry of Public Security, amid the strong development of digital transformation and electronic payments, online fraud, financial deception, and high-tech crime are becoming increasingly complex. These activities affect cybersecurity, financial system safety, and citizens' rights. To address this, enhanced coordination between the Public Security force and the banking sector is a key solution to proactively prevent, detect, and stop illegal activities in cyberspace.

MSB was among the entities to receive a commendation from the Ministry of Public Security. Photo: MSB

An MSB representative stated that the bank has recently collaborated with functional units to research, develop, and implement various technological solutions. These solutions aim to help detect and prevent fraud and scams in the digital environment.

Through its early warning system, the bank issued warnings to 41,388 customers with potentially risky transactions. This effort helped protect approximately 167,3 billion VND of customer assets from misappropriation. Additionally, MSB implemented a system for receiving and responding to electronic requests for information, supporting coordination between the bank and authorities in combating high-tech crime.

Many initiatives and solutions implemented by MSB have yielded practical results, earning high praise in practice. These contributions have enhanced customer protection capabilities and ensured the safety of banking operations in the digital environment.

An MSB representative said that receiving the commendation from the Ministry of Public Security acknowledges the bank's efforts in applying technology. These efforts improve risk management capabilities, protect customers, and ensure operational safety in the digital environment.

"Recognizing customer safety and trust as the core foundation for our digital transformation strategy, MSB will continue to refine technological solutions and strengthen inter-agency cooperation, building a secure, modern digital financial ecosystem, aligned with Vietnam's goals for digital economic and social development", an MSB representative affirmed.

Minh Ngoc