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Cyber crime: A global issue that affects Vietnam

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Vietnam, with the 12th largest internet user population globally, is facing a significant increase in cybersecurity vulnerabilities in recent years. The country witnessed nearly 14,000 cyberattacks in 2023, marking a year-on-year increase of 9.5%. Of particular concern were the attacks on hundreds of Vietnamese government offices, raising fears about the exposure of classified and politically sensitive information.

Moving into 2024, the trend continued with the Vietnamese government recording over 20 million cyberattack alerts between January and March, a 33% increase compared to the same period in 2023. Phishing emerged as the most common cybercrime in the country, accounting for nearly a third of all attacks. Vulnerabilities in platforms and programs installed on computers and servers were targeted in 27.4% of attacks, while 25.3% targeted business websites.

The cybersecurity challenges faced by Vietnam are not limited to the country alone but reflect tensions prevalent throughout the region. Cybercrimes in Vietnam are often attributed to Chinese hackers, raising concerns about national security and regional stability. Viet Dung Trinh, a researcher at the University of Queensland, highlighted that cyberattacks in Vietnam could impact regional stability by exposing national secrets and confidential information.

Trinh emphasized the importance of collective action among regional countries to enhance skills and accumulate experiences in addressing cybersecurity issues. However, current collective efforts mostly focus on sharing cyber information and improving capabilities rather than proactive measures to prevent cyber threats.

The complex relationship between Vietnam and China has made the former a prime target for cyberattacks, especially from Chinese hackers. Trinh explained that China-based hackers target Vietnam’s cyber infrastructure to gather confidential information related to economic, diplomatic, and defense cooperation with other states. Additionally, they may aim to disrupt communication networks between agencies within Vietnam.

The rapid growth of Vietnam’s economy has attracted significant foreign business and investment, providing fertile ground for cybercriminals to exploit. Duc Anh Tran, an associate at Tilleke & Gibbins, highlighted that digital transformation initiatives in Vietnam inadvertently create opportunities for cybercriminals to exploit online banking and transactions. With thousands of online transactions supporting daily business operations and investments, criminals find avenues for fraud and illicit activities.

In response to the escalating cyber threats, Vietnamese banks have implemented stricter rules on online payments. Transactions exceeding VND 10 million (US$400) via online platforms now require authentication using the account owner’s Face ID. The government continues to update cyber fraud prevention tactics and provides guidance on managing cyber threats, including issuing handbooks on identifying and preventing cyber fraud.

To enhance cybersecurity measures, Vietnam has passed laws related to cybersecurity and established cyber agencies under the Ministry of National Defence and Ministry of Public Security. The country also developed its own 5G network to reduce Chinese influence on cybersecurity. Despite these efforts, there is a need to increase awareness among individuals and businesses about online fraud schemes.

With the economy forecasted to grow significantly in the coming years, Vietnam remains a profitable target for cybercriminals in Asia and beyond. The country’s ability to build stronger cybersecurity protections will be crucial in safeguarding its national security and economic interests amidst the escalating cyber threats.

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