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2 clusters · 4 sources · 5 days · First seen · Last updated

ABBank fraud prevention measures in Vietnam

Overview

ABBank announced new security measures for NAPAS 247 fast money transfers, effective September 18. The bank integrated its systems with the Fraudulent Account Monitoring and Warning system (SIMO) of the State Bank of Vietnam, the Department of Cybersecurity and High-Tech Crime Prevention (A05), and the National Payment Corporation of Vietnam (NAPAS).

Through the ABBank and ABBank Business applications, the system will automatically cross-reference recipient account, card, or e-wallet information against fraud databases. Transactions involving accounts flagged by A05 as suspicious may be rejected or blocked. If an account appears on warning lists from SIMO or NAPAS, the system will display a risk warning to allow customers to verify information before proceeding. ABBank noted these warnings are based on data-driven risk assessments and do not definitively prove a recipient is a fraudster.

Entities

Arbitro Bancario Finanziario · Ministry of Public Security · Latina · NAPAS · Palermo

Timeline

  1. [BUSINESS] 2 sources
    ABF orders refund of 8,300 euros following online fraud

    The ABF has ordered a refund of over 8,300 euros to a victim of online fraud, ruling that banks must provide clearer alerts and better controls beyond simple authentication systems.

  2. [BUSINESS] 2 sources
    ABBank to block or warn users of fraudulent transfer accounts

    ABBank is implementing new fraud prevention measures for NAPAS 247 transfers, allowing the bank to block or warn users about suspicious recipient accounts starting September 18.

Sources

kenh14.vn · latinatoday.it · radioluna.it · soha.vn