BizNEWS

Consumers’ Cyber Security Get Insured for the First Time

Diep Nguyen
BizLIVE -

CyberGuard of BSH compensated for customers when their money is stolen from the banking account or e-wallet; their data or digital asset is stolen; their personal information is stolen in the online environment, harming their reputation, finance.

Consumers’ Cyber Security Get Insured for the First Time
Photo Credit: Evans
According to statistics from Bromium & McGuire, in the social networks every year, the criminals acquired USD 3.25 billion. In just the first 6 months of this year, there have been more than 4.1 billions files of personal documents stolen. 
Among the illegal transactions, there is more than 40-50% related to personal information leaking, credit card information stealing. What is worse, there have been more than 84% of fake IDs through online registration channels, The Fraudscape reported.
In Vietnam, Minister of Information and Communications once revealed that there have been more than 68 millons of Internet users in Vietnam. The number of people using Internet banking and online shopping services has increased sharply day by day. It is estimated that at the end of 2019, there was more than 43 million using banking accounts.
Besides, the Covid-19 pandemic has changed the habits of consumers, at the same time the Vietnamese economy has suffered a lot. Nguyen Thanh Hung, vice chairman of the Vietnam E-Commerce Association (Vecom) said: “During the recovery time after the first wave of Covid-19 pandemic in Vietnam, the changing minds and habits of consumers will shape the new trends of online commerce, online shopping”. When habits of consumers change from offline to online, they face to more risks of risks in the online environment.
 
General Director of BSH Bui Trung Kien at the CyberGuard launching ceremony 
Catching up with this trend, BSH becomes the first company in Vietnam’s insurance market to provide the online risk protection product. This is the very first time that there is an insurance company providing protection service in the online shopping environment. 
CyberGuard of BSH compensated for customers when their money is stolen from the banking account or e-wallet; their data or digital asset is stolen; their personal information is stolen in the online environment, harming their reputation, finance. 
BSH is also the first company in the market cooperating with the US partner – Cyberscout. Cyberscout is the top company in the US in the field of cyber security. The product under the cooperation between BSH and Cyberscount differs much from the other kinds of insurance products because it is equipped with the ability to deal with the tactics of the hackers. 

DIEP NGUYEN