Introduction

Cambodia’s digital payment adoption has surged, with platforms like Bakong and mobile wallets seeing rapid growth. This brings new security challenges.

Payment Security Risks

  1. Mobile Payment Threats

    • SIM swap fraud
    • App tampering
    • Fake payment requests

  2. Online Banking Risks

    • Credential stuffing
    • Man-in-the-middle attacks
    • Session hijacking

  3. POS System Vulnerabilities

    • Skimming devices
    • Malware-infected terminals
    • Weak encryption

Security Best Practices

For Consumers

  • Enable biometric authentication
  • Use official app stores only
  • Monitor transaction alerts

For Businesses

  • Implement PCI DSS standards
  • Tokenization for payment data
  • Regular security assessments

For Developers

  • Secure coding practices
  • Penetration testing
  • Fraud detection algorithms

Regulatory Requirements

  • National Bank of Cambodia guidelines
  • Two-factor authentication mandates
  • Transaction monitoring rules
  • Biometric authentication adoption
  • AI-powered fraud detection
  • Blockchain-based payment security

Conclusion

As Cambodia’s digital payment ecosystem matures, robust security measures will be crucial for maintaining trust and preventing fraud.