đặt vấn đề về tính cấp thiết của việc phát triển các phương thức thanh toán điện tử an toàn và hiệu quả. Điều đó buộc hệ sinh thái thanh toán điện tử phải liên tục phát triển và thay đổi để cung cấp cho người dùng một công cụ thanh toán an toàn, tiện lợi và hiệu quả. Do đó, hoạt động thương mại điện tử không chỉ tập trung chủ yếu tập trung vào thời điểm, phiên giao dịch, hành vi, cũng như danh tính của người dùng của giao dịch, mà còn phải tập trung vào việc ngăn chặn gian lận không xuất trình thẻ, bởi vì thị trường bán lẻ được dự báo sẽ mất hoảng 130 tỷ đô la do thực trạng gian lận không xuất trình thẻ gây ra từ năm 2018 và 2023. Gian lận CNP là vấn đề mang tính thời sự của ngành dịch vụ tài chính.
Là một ngân hàng quốc tế đồng thời là tổ chức phát hành thẻ tín dụng hàng đầu tại Việt Nam, HSBC đã phải đối mặt với sự gia tăng của tình trang gian lận không xuất trình thẻ từ đầu năm 2016, điều này không chỉ đe dọa đến rủi ro hoạt động mà có nguy cơ ảnh hưởng đến danh tiếng Ngân hàng. Đó là lý do tác giả chọn đề tài “Sự gia tăng tỷ lệ gian lận thanh toán giao dịch không xuất trình thẻ tại HSBC: Nguyên nhân và giải pháp khắc phục” là chủ đề nghiên cứu của luận văn tốt nghiệp. Từ khóa: Gian lận thanh toán giao dịch không xuất trình thẻ, đặc điểm giao dịch, hệ thống xác thực giao dịch trực tuyến, bảo mật thông tin cá nhân, quy định pháp lý LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com TABLE OF CONTENT DECLARATION OF AUTHENTICITY ABBREVIATIONS LIST OF TABLES AND FIGURES LIST OF AND PICTURES ABSTRACT TABLE OF CONTENT CHAPTER 1: INTRODUCTION. Statement of the problem.
Research objective and scope. 5 CHAPTER 2: AN INCREASE IN CARD-NOT-PRESENT FRAUD AND THE LIMITTATIONS IN CURRENT RISK MANAGEMENT. Background of CNP fraud in HSBC. Overview about HSBC Vietnam.
Definition of Card-not-present fraud. Online payment processing. About card-not-present fraud. 13 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.
Card-not-present fraud in HSBC. CNP fraud management in HSBC. Account at risk procedure. Fraud risk monitoring system.
34 CHAPTER 3: CNP FRAUD CAUSES ANALYSIS. Cross-border frequence in transactional behaviour. Inappropriate approval protocols in fraud monitoring and system authentication. Lower consumer awareness in personal information security.
Lack of online purchase compliance in legislation. 53 CHAPTER 4: SOLUTIONS AND LIMITATIONS. Adopt advanced authentication techniques for online transaction tracking. Inhance consumer awareness.
Formulate policies address cybersecurity. Limitation and suggestions for future research .61 REFERENCES APPENDIX 1 APPENDIX 2 LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 1 CHAPTER 1: INTRODUCTION This chapter states the problem of research with its symptoms and summarize causes and implementations provided. In addition, an organization of this study will be outlined to brief the content of thesis. Statement of the problem In HSBC, a report on fraudulent transactions 2017 illustrates an increase in CNP fraud by 25.38% from 2013 to 2017, especially a dramatic growth in 2016, 2017 at 68.
The proportion of CNP fraud was under three times as high as the remaining types. Another noticeable point is a chargeback rate in 2017 accounted for 1.12%, which exceeded acceptable rate is 1% and over controlled rate recommendation (0. An increase in CNP fraud ratio, both in volume of chargeback cases and total amount of loss questions about the adoption of current risk management in term of CNP transaction. Therefore, causes and implementations to reduce CNP fraud ratio will be investigated to prevent HSBC cardholders from fraudulent transaction.
Card-not-present fraud is also a global challenge of non-cash payment industry. It will cost retailers worldwide $130 billion between 2018 and 2023, a new report from Juniper Research predicts. This fraud is growing faster than CNP transactions because of the increasing sophistication of fraudsters' techniques (Steffen Sorrell, 2019). The current global recession is highlighting the fragility of the international banking and finance system that subject to greater risks and acts of fraud.
Fraud prevention remains the biggest challenge in addressing fraud stemming from a fast changing information technology environment, where the internet has become one of the most important channels for retail sector. Technology gives criminals new tools for gaining access to information and funds with the more complicated approach, through many forms without using physical cards. LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 2 In Vietnam, from 2014 to 2017, the percentage of CNP fraud has increased from 75 per cent to 83 per cent, and one of the reasons for this is the adoption of EMV chip in the market, which helps to prevent counterfeit (CFT) frauds, and as such, frauds have migrated from the counterfeit (CFT) to the CNP channel. Globally, the fraud rate is less than 10 basis points, meaning out of every $100 spent, $0.10 is reported as fraud.
For the Vietnamese market, it is only $0.03 out of every $100 spent. The fraud rate for Vietnam has remained low due to the collective efforts of the Vietnamese government, payment networks, financial institutions, merchants, and law enforcement. Nevertheless, in light of promoting cashless transactions, the Vietnamese government has launched an ambitious plan to reduce cash transactions in the country to less than 10% of total market transactions by 2020. As per the plan, at least 70% of water, electronics, and telecommunication service providers will accept cash-free payments; at least 50% of total urban households use electronic payments for daily transactions by 2020.
Along with electronic payments, the government is also focusing on increasing the use of credit cards by ensuring that all supermarkets, shopping malls, and distributors accept credit cards. Together with the boom of E- commerce, these tendencies will attract more organized cyber criminals and pose a serious threat on CNP fraud prevention. In conclusion, the workload burden of operation team in chargeback handling and an increase in loss volume of card-not-present fraud were a symptom of the gap in the current cybercrime risk management to prevent HSBC cardholders from cybercrime attack. Hence, the purpose of this research is identifies particular causes and proposes implementations in order to reduce monitoring cost.
Furthermore, CNP fraud is also a mutual challenge of banking system, pioneering in fraud prevention helps HSBC maintain its leading branch in credit card market not only in quantity of card number but also in quality of card spending revenue. LUAN VAN CHAT LUONG download : add luanvanchat@agmail. Research objective and scope The study was guided by the following objectives: - To analyse causes influencing card-not-present fraud in HSBC Vietnam. - To determine how transaction characteristic influences potential of online fraud on credit card - To discover how authentication method influences potential of online fraud on credit card - To recommend solutions to tackle this issue from the Bank perspective The scope of this thesis is the reality of CNP fraud consequences in HSBC Vietnam.
Besides that, CNP fraud in this research is investigated for transactions which cards are not physically presented at POS only. Research methodology The thesis uses quantitative methods to emphasize and analyse research objectives. The author collected data through HSBC Vietnam fraud report and questionnaire survey to gather numerical data and generalize causes and solution for the research problem. Survey result conducted through face-to-face interviews, website interceptors and online polls.
This survey questionnaire is originally developed in English, and then translated into Vietnamese. The in-depth interview is conducted to modify the measurement scale. After the qualitative phase, a quantitative pilot study is conducted in which individual dace to face interviews and online survey are undertaken to test interviewee’ understanding on the contents of the questions in this questionnaires as well as to make sure the properly running of online survey. The final questionnaire is launched in the following main survey.
The questionnaire is sent to respondents by using Google Survey toll and paper. This thesis focused on the credit cardholders living in Ho Chi Minh City. The author selects this city for research purpose, because it is the biggest credit card LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 4 issue and usage area and favourite target market of frauds as well. The study is conducted to gain better understanding of the factors influencing CNP frauds.
Respondents of this study are people who live in HCMC and know about credit cards. Research contribution Based on the research results of this study, we contribute practical insights for key factors influencing CNP fraud rate of HSBC Vietnam cardholders From the issuer and financial institution perspective, the study will help the bank in identifying and reducing the costs and losses associated with incompetence, enable the bank to minimize customer complaints, reduce burden for chargeback or other supporting operation departments, while winning customer’s loyalty, enhancing reputation, building up status and increasing returns. From customer perspective, this study will assist the customers understand the various factors influencing CNP fraud; enhance their awareness about fraud prevention and how to mitigate them. From research perspective, there is very limited previous research in Vietnamese CNP fraud rate.
Although fraud prevention and detection, particularly CNP fraud in credit card industry are a much-discussed topic that receives a lot of attention, the number of publicly available works is rather limited. Through a multi- faced framework, the study extends the literature of transactional behavior, system authentication, personal information security, legislation in the context of credit card fraud among Vietnamese cardholders. The research results not only contribute the literature in terms of the factors affecting CNP fraud rate but also serves to motivate similar studies are like to conduct to determine whether the correlate of factors reported here are similar or different. In conclusion, the payments ecosystem continues to evolve and change; as a result, streamlining and improving the overall payment process requires a compliant foundation supported by industry best practices.
CNP fraud detection and LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 5 prevention must continue to effectively address obstacles on reducing fraud loss and maintain pace with current and emerging solutions to optimize fraud monitoring and authorization. Research structure It begins with the introduction chapter, which presents a brief of this study. This chapter includes problem statement, causes and proposal solution. Chapter 2 introduces about an increase in HSBC CNP fraud and a concern about a gap in cybercrime management.
Chapter 3 presents the causes of the problem. The final chapter discusses summarily recommendation to solve problem statement. LUAN VAN CHAT LUONG download : add luanvanchat@agmail.com 6 CHAPTER 2: AN INCREASE IN CARD-NOT-PRESENT FRAUD AND THE LIMITTATIONS IN CURRENT RISK MANAGEMENT This chapter presents an overview about an increase of CNP fraud in HSBC by an increase in chargeback and CNP loss ratio. Through workload burden in chargeback handling and increase in loss of card-not-present fraud, which were symptoms of the gap in the current risk management solution to prevent HSBC cardholders from cybercrime.
Background of CNP fraud in HSBC 2. Overview about HSBC Vietnam “HSBC Vietnam opened its first office in Saigon (now Ho Chi Minh City) in 1870. In August 1995, HSBC opened a full-service branch in Ho Chi Minh City. HSBC also opened its second branch in Hanoi and established a representative office in Can Tho City in 2005.
On 1 January 2009, HSBC became the first foreign bank to incorporate in Vietnam. The new entity, HSBC Bank (Vietnam) Ltd. is 100 per cent owned by The Hongkong and Shanghai Banking Corporation Limited. HSBC Bank (Vietnam) Ltd.
is also the first wholly foreign-owned bank to operate both branches and transaction offices in Vietnam. HSBC is currently one of the largest foreign banks in Vietnam.