Non-traditional security risks pose threat to Vietnamese stock market
Non-traditional security risks pose threat to Vietnamese stock market
The rapid development of the Vietnamese stock market has also led to increased risks, including non-traditional security challenges like transnational or high-tech crimes, which can have a widespread impact on stock market operations.
An investor stands in front of an e-board showing stock indices. The State Securities Commission has issued warnings to securities companies and fund management firms regarding the security of online securities trading systems. — VNA/VNS Photo |
During a recent training conference for financial institutions and securities companies, Phạm Hồng Sơn, the Vice Chairman of the State Securities Commission, highlighted the risks faced by Vietnamese stocks.
Risks include non-traditional security issues, such as transnational crimes and cyber crimes, which can have a significant impact on stock market operations, according to Sơn.
The conference, organised by the State Securities Commission in collaboration with the People's Police Academy, the Department of High-tech Crime Prevention, under the Ministry of Public Security, took place in Hà Nội late last week.
Its purpose was to enhance knowledge about new types of criminal activity in the finance and securities sectors, as well as helping explore preventive measures against the new wave of crimes.
The event was attended by representatives from the State Securities Commission, reporters from the People's Police Academy, the Department of High-tech Crime Prevention and leaders from various units under the State Securities Commission. Additionally, leaders from 71 securities companies were also present.
Phạm Hồng Sơn emphasised that the emergence of non-traditional security issues had become increasingly significant.
Regarding the securities sector, he told attendees that the Vietnamese stock market had experienced robust growth over the past 24 years. Currently, the average value of stock transactions per session had reached US$1 billion, the daily trading order volume ranged from 1.2 to 1.8 million orders and the number of accounts had exceeded 7 million.
With that kind of growth of the market, the State Securities Commission placed great importance on ensuring safety and security. It recently issued alerts to securities companies and fund management firms regarding the security of online trading systems.
These communications emphasised the need to strengthen reviews and ensure information security in stock trading activities, Sơn said.
During the conference, Associate Professor, PhD. Phạm Tiến Dũng, Head of the Economic Police Department at the People's Police Academy, and lecturers from the same department, provided an overview of non-traditional security issues in the field of finance and securities, as well as potential response strategies.
Lieutenant Colonel Nguyễn Thành Chung, Deputy Head of the Department of High-tech Crime Prevention under the Ministry of Public Security, discussed the risks associated with financial crimes. He also presented preventive solutions for financial institutions and securities companies.
Vice Chairman Bùi Hoàng Hải of the State Securities Commission suggested that securities companies raise awareness of non-traditional security issues within their organisations and enhance security, safety and system protections. These measures aim to minimise market risks and ensure the sustainability of market operations.
