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/ April 6, 2021

A comprehensive approach to SWIFT security assessment

Tran Phuong Hong, IT Advisory director, KPMG Tax and Advisory Vietnam and Do Kim Hien, senior solution consultant, KPMG Tax and Advisory Vietnam In Vietnam, we have had vast opportunities in conducting SWIFT system security gap assessment projects for Vietnamese banks, and there are best practices that clients should consider while implementing and securing the system according to a SWIFT Customer Security Control Framework (SWIFT CSCF). The SWIFT CSCF describes a set of mandatory and advisory security controls for users. Mandatory security controls establish a security baseline for the entire community and must be implemented by all users on their local SWIFT infrastructure. The SWIFT has chosen to prioritise these mandatory controls to set a realistic goal for near-term, tangible security gain, and risk reduction. Advisory controls are based on good practice that SWIFT recommends. Over time, mandatory controls may change due to the evolving threat landscape, and some advisory controls may become mandatory. All controls are articulated around three objectives: ‘Secure your Environment’, ‘Know and Limit Access’, and ‘Detect and Respond’. Controls have been developed based on SWIFT analysis of cyber threat intelligence and in conjunction with industry experts and user feedback. Control definitions are also intended to be in line with existing information security industry standards. SWIFT CSCF version 2021 has defined 31 security controls (22 mandatory and nine advisory controls) that underpin these objectives and principles. The controls are intended to help mitigate specific cybersecurity risks that users face due to the cyber threat landscape. Within each security control, SWIFT has documented the most common risk drivers that the control is designed to help mitigate. Addressing these risks aims to prevent or minimise undesirable and potentially fraudulent business consequences, such as unauthorised sending or modification of financial transactions; …

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/ April 13, 2021

Doctors concerned about impact of harmful video content on children

A student seeks a doctors’ consultation at the National Children’s Hospital after exposure to harmful content on the internet. Photo baotintuc.vn HÀ NỘI – Doctors and parents are concerned about the impact videos with harmful content are having on children. H, a Hanoian, recently noticed a change in the mental health of her 15-year-old daughter. She became quiet and preferred using her phone to communicating with anyone. Her studies were also negatively impacted. H brought her 15-year-old daughter to the National Children’s Hospital for an examination, where doctors said her child was depressed as a result of playing games and watching YouTube channels with negative content. H’s daughter is just one of many children who have been affected by online content, with some children risking their lives after watching harmful videos. Last October, a nine-year-old boy in Phú Thọ Province swallowed a nail clipper after watching a video on YouTube. Luckily, he received medical help in good time and escaped any long-term harm. According to Trần Thành Nam, a psychological expert from Hà Nội National University, children do not know always know right from wrong and can be easily swayed by others. “Many things are repeated over and over, making them think they are correct and should be imitated. It is easy for them to become addicted and make them move away from real life,” he told Tin Tức (News) newspaper. Adults can have similar problems distinguishing right from wrong when flooded with information which spreads doubt and a lack of trust, Nam said. Ngô Anh Vinh, Deputy Head of Adolescent Health Department at the same hospital, said his department has treated a number of children for excessive use of social media, such as watching videos that are not age-appropriate and spending too long online. “When admitted to the hospital, some children showed signs of agitation, anxiety disorders, depression. Due to late detection and the family being unable to control …

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/ April 12, 2021

LG Electronics looking for buyer for smartphone plants

LG Electronics is looking to sell its smartphone plants. Source: Glassdoor After announcing to withdraw from the smartphone business, LG Electronics is closing down production plants in Haiphong (Vietnam), Taubate (Brazil), and Qingdao (China) after failing to effect a breakthrough, according to Business Korea . Of these, the Haiphong plant, which is the largest among LG Electronics' smartphone plants with an annual capacity of about 10 million smartphones, equaling about half of LG's total smartphone output, has been announced to find a buyer at the selling price of KRW100 billion ($90 million). Realising the difficulties of finding a local buyer, which is going to manufacture almost 10 million smartphones per year, LG Electronics is considering selling the plant site only, without the production lines. The Taubate and Qingdao plants are facing the same difficulties. They have a total capacity of about 8-9 million smartphones a year. After a rumour about the sale of the Taubate plant caught wind at the end of February, executives and employees at the plant have been staging a strike since March 26 due to concerns over their job security. Last month, LG Electronics attempted to sell its smartphone factories to local conglomerate Vingroup, without success. “LG negotiated with Vingroup to sell its smartphone factories in Vietnam and Brazil. However, the recent negotiations failed mainly due to price disagreements,” the Korea Times today quoted a senior industry official who understood the deal. By Nguyen Huong …

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