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Vietnam securities broker yet to recover from cyber attack

Vietnam securities broker yet to recover from cyber attack

Investors have not been able to access their trading accounts.

By Abbinaya Kuzhanthaivel on Mar 28, 2024 1:49AM

Vietnam's third-largest securities broker, VNDirect, is still reeling under the cyber attack on its servers which occurred on March 24.

The attack compromised the broker's information technology system, resulting in the temporary suspension of its securities trading system.

The company had earlier assured investors that the security incident may only affect current transaction activities and all customer data and information are protected and safe.

However, the websites of companies associated with VNDirect including the Post-Telecommunication Joint Stock Insurance Corporation (PTI), investment firm IPA and stock investment fund IPAAM were also affected.

VNDirect said on Wednesday that some of its services are back online and will restore access to its services in four stages, beginning with customer accounts and to financial products.

It added that the system is back, yet some features may not be stable.

"The incident this time is very fatal and no one wants it, so I hope that customers sympathise with us to overcome this difficulty," the company said.

VNDirect is also preparing plans to provide customer support policies. It is collaborating with partners FPT and Viettel to restore the systems and ensure safety of customer information and assets.

Investors have not been able to access their trading accounts on VNDirect since trading began Monday.

The broker had directed account managers to withhold from transferring money into their trading accounts until further notice.

As part of precautionary measure, Hanoi Stock Exchange (HNX) announced to have shut down remote and online trading of VNDirect accounts, “until the problem is resolved.”

The State Securities Commission has instructed VNDirect to ensure the security and continuous operation of its information technology systems and backup databases as per legal compliances.

It has urged to proactively review and examine security measures for its systems, particularly the securities trading system and internet-connected systems, to promptly address any vulnerabilities.

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Tags:
fpt ipa ipaam pti security vndirect

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