Vietnam: Functions of the network security operation center in credit institutes

According to Article 47 of the Circular No. 09/2020/TT-NHNN of the State Bank of Vietnam, each institution that directly manages an information system of level 3 or higher shall establish or designate a department in charge of managing and operating the network security operation center (this provision does not apply to foreign bank branches, intermediary payment service providers, non-bank credit institutions, microfinance institutions, local people’s credit funds, credit information companies, Vietnam Asset Management Company and National Banknote Printing Plant).

The network security operation center shall perform the following tasks:

- Proactively monitor, collect and receive information and warnings about internal and external information security risks and threats.

- Develop a security information and event management (SIEM) system, collect and store information in a concentrated manner, at least including: logbooks of information systems of level 3 or higher and information systems that process clients’ personal information, and warnings and logbooks of network security equipment such as firewall and 4 IPS/IDS.

- Analyze information in order to detect and warn about cyberattack risks and threats and information security incidents, and send reports to the system administrator if finding any incident relating to information systems of level 3 or higher and information systems that process clients’ personal information.

- Coordinate incident response activities, zone, prevent and minimize adverse impacts and damage to information systems if any incident occurs.

- Carry out investigation and determination of attack sources, methods and modes, and take measures to prevent incident recurrence.

- Provide information at the request of SBV for the purpose of network security surveillance in banking.

View more details at the Circular No. 09/2020/TT-NHNN of the State Bank of Vietnam, effective from January 01, 2021.

Thuy Tram

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