In the wake of new advances in science and technology that pose challenges to security and confidentiality, the State Bank of Vietnam (SBV) is drafting amendments to Circular 47/2014/TT-NHNN with new technical regulations on security and confidentiality for the card payment system.
Hanoi (VNS/VNA) -In the wake of new advances in science and technology that pose challengesto security and confidentiality, the State Bank of Vietnam (SBV) isdrafting amendments to Circular 47/2014/TT-NHNN with new technicalregulations on security and confidentiality for the card payment system.
Under the changes, banks andpayment intermediaries will need to withdraw, remove or deactivate unused,expired or inactive accounts after 90 days, or accounts that arenot activated within the required period.
Card numbers must also be keptconfidential by only displaying the first six and the last four digits.
Only employees who have theauthority to perform certain procedures or the authorities and thecardholders themselves will be allowed access to the full information.
Banks, card paymentorganisations and payment intermediaries will no longer be allowedto provide intranet addresses and routing information to otherorganisations without authorisation, and should take measures to protect suchinformation when connecting with third parties.
In addition, workstations mustnot have access to card data which is not concealed or encrypted.
For payment equipment, allremote administration access connections should be encrypted using strongencryption to minimise cybersecurity risks.
To ensure security, banks andpayment intermediaries will need to review software technology at least once ayear. If it is no longer supported or does not meet security requirements, itmust be repaired or replaced.
Access to all card paymentsystems must be verified using at least one of these methods: secretpassword, device, authentication card, biometrics.
The SBV said the provisionsunder Circular 47 were technical requirements for equipment security servingthe card payment system and would not affect bank customers'accounts./.
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Bank cards. (Photo: ICT News) 
