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Cyberterrorism

Vietnam's Cybersecurity Landscape: Evolving Threats and Rising Concerns

Strategic Insights

— 2 min read

Amid a growing number of sophisticated cybercrimes, the need for a safer cyber space and more proactive security methods has become increasingly urgent to protect national security and ensure a sustainable digital economy. Recent events have highlighted the alarming rate of cyber threats in Vietnam, with experts warning that well-organised, professional groups are orchestrating attacks, using advanced technologies like artificial intelligence to automate and enhance attacks.

Key Takeaways:

  • In 2024, a 2024 survey by the National Cybersecurity Association (NCA) revealed that, on average, one in every 220 internet users in Vietnam fell victim to online scams, a rate of 0.45%.
  • The total estimated financial loss due to scams in 2024 exceeded 18.9 trillion VND (731.42 million USD).
  • The three most common types of scams included fake investment opportunities promising high returns, impersonation of authorities, and fraudulent prize or promotion announcements.
  • Viettel Cyber Security reported that in 2024 alone, encrypted data breaches caused losses totalling 11 million USD, and more than 14.5 million user accounts were compromised.
  • Hackers are increasingly leveraging artificial intelligence (AI) to automate and enhance attacks, including the creation of fake emails and websites.
  • The banking and financial sector remains the most targeted, accounting for 71% of all cyberattacks.
  • Distributed denial-of-service (DDoS) attacks also surged, with over 924,000 recorded incidents, up 34% from the previous year.
  • Experts from Viettel and the NCA agreed that cyber-criminal will continue to integrate AI to craft more evasive malware and deploy deepfake technologies to mimic voices, images, and videos with alarming precision.
  • A shift towards proactive cybersecurity is crucial, with the Politburo's Resolution No. 57-NQ/TW highlighting cybersecurity as a core priority and Prime Minister Pham Minh Chinh urging preventive measures against cyber-enabled fraud and online asset theft.
  • Vietnam Cybersecurity JSC recommends adopting a "proactive cybersecurity" posture, anticipating threats, detecting them early, and minimising potential damage.

Statistics:

  • 0.45% average rate of online scams in Vietnam (NCA survey, 2024)
  • 18.9 trillion VND (731.42 million USD) total estimated financial loss due to scams in 2024
  • 1 in 220 internet users in Vietnam fell victim to online scams in 2024
  • 11 million USD losses due to encrypted data breaches (Viettel Cyber Security, 2024)
  • Over 14.5 million user accounts compromised in 2024
  • 71% of all cyberattacks targeted the banking and financial sector
  • 924,000 DDoS attacks recorded in 2024, up 34% from the previous year
  • 20% of Vietnamese organisations have no dedicated cybersecurity staff
  • 35.56% lack the necessary headcount to meet demands
  • Over 700,000 cybersecurity professionals expected to be in short supply in the near future

Sources:

  • National Cybersecurity Association (NCA)
  • Viettel Cyber Security
  • Vietnam Cybersecurity JSC
  • Vietnam News Agency
  • HT Digital Content Services
  • Vietnam Academy of Science and Technology
  • Cybersecurity Research Institute (CRI)
  • Resolution No. 57-NQ/TW, Politburo
  • Dispatch by Prime Minister Pham Minh Chinh

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