TPBank activates "digital shield" to prevent bank account fraud

In order to deal with increasingly sophisticated fraud schemes, TPBank has launched a risk transfer warning system - automatically warning and blocking transactions when detecting signs of fraud in beneficiary accounts.

Faced with the wave of high-tech crime that has broken out strongly in Vietnam with thousands of money transfer fraud cases each year, banks are under great pressure to protect customers from the risk of losing money through their accounts. In that context, TPBank has officially become the pioneer bank to deploy a synchronous fraud risk warning system across all transaction channels: TPBank App, TPBank Biz, ATMs/LiveBank and at the counter. This solution helps customers promptly identify beneficiary accounts with signs of abnormality, thereby proactively preventing financial fraud right from the beginning of the transaction.

Integrating SIMO data, strengthening the active defense layer

TPBank's new feature operates based on direct connection with the SIMO system (System for Intelligent Monitoring and Oversight) deployed by the State Bank of Vietnam. SIMO is a central platform for sharing information about suspected fraudulent accounts between banks, financial institutions and regulatory agencies. In addition, TPBank has directly connected with the data of the Ministry of Public Security - A05 to diversify warning sources.

TPBank warns of fraud.

As soon as a beneficiary account is detected to have signs of risk, the TPBank system will automatically activate the warning mechanism or block the transaction, depending on the severity. This contributes to cutting off the chain of illegal money circulation, while increasing the ability to prevent damage to customers.

Automatic warnings based on risk levels, flexible and transparent

TPBank's risk warning system is designed to operate fully automatically and only displays when a transaction shows signs of abnormality. The risk handling mechanism is clearly classified into two levels to ensure flexibility and optimal efficiency.

For beneficiary accounts that are under monitoring or have a low risk level, the system will display a warning directly on the transaction interface, recommending that customers consider carefully before continuing. In this case, customers still have full authority to decide to perform or cancel the transaction.

Conversely, if the system determines that the recipient account is related to fraudulent behavior or is on the verified list of high risk, TPBank will proactively refuse to process the transaction, which means that customers cannot make money transfers in any form.

This layered approach helps proactively protect users without affecting legitimate transactions, ensuring a balance between safety and seamless customer experience.

TPBank sends warnings to users when detecting unusual signs in the recipient's account.

Synchronized across all channels, standardized experience, comprehensive protection

Risk warning features are integrated synchronously across all TPBank transaction platforms. When customers make money transfer orders on the TPBank App, TPBank Biz or ATMs/LiveBank, the system will directly notify them if the beneficiary's account shows suspicious signs. For transactions at the counter, warnings are sent to the transaction officer to directly advise the customer at the time of the transaction.

The important highlight is that the feature is built in the direction of "smart hide - show", ensuring that it does not affect the normal user experience, but is always ready to activate when risks arise.

Towards a transparent and safe financial ecosystem

By pioneering the widespread application of SIMO technology, TPBank demonstrates a proactive role in the strategy of preventing financial fraud, while contributing to the effort to build a safe and transparent payment environment for the entire industry.

Statistics show that after only a short period of trial operation at a number of major banks, the SIMO warning system has helped block tens of thousands of suspicious transactions, preventing hundreds of billions of VND in losses for users. TPBank's deployment across all transaction channels shows a strong commitment to community financial safety.

This is not only a technological step forward but also a practical action demonstrating TPBank's social responsibility in the context of increasingly complex financial crimes.