On 24/12/2018, the State Bank issued Circular No. 35/2018/TT-NHNN for the provision of Internet banking services issued by the State Bank of Vietnam. Accordingly, this Circular takes effect from 01/07/2019.
According to Clause 6 Article 1 of Circular No. 35/2018/TT-NHNN dated December 24, 2018 of the State Bank of Vietnam: Amending and supplementing a number of articles of Circular No. 35/2016/TT- NHNN dated December 29, 2016 of the Governor of the State Bank of Vietnam providing regulations on safety and security for the provision of banking services on the Internet:
“3. Application software must authenticate users when accessing and does not have the function to remember access keys. In case of successive false authentication over the number of times prescribed by the unit, the application software must be automatically locked temporarily for the user to continue using”.
Regulations issued on the basis of improving safety and security; minimizing risks arising from the situation of users of Internet Banking application software who are accustomed to storing account information on Internet Banking applications, in some cases due to negligence or theft of devices Storage can be exploited by accountants and account hijacking.
Accordingly, from the effective date of this Circular dated 01/07/2019, Internet Banking software will no longer have the function of remembering login accounts. Therefore, users logging in Internet Banking have to fill both account information and password into Internet Banking application.