Vietnam records hundreds of data breaches as ransom demands quadruple in January-September

The breaches exposed approximately 3.4 billion pieces of data, according to Le Quang Ha, deputy director of Viettel Cyber Security. 

He shared the figures at the 2025 Smart Banking Conference and Expo in Hanoi, co-organized by the Vietnam Banks Association, the National Data Association, and the National Cybersecurity Association.

Ha warned that Vietnam’s rapid transition to digital finance, combined with the growing use of artificial intelligence and increased reliance on third-party data sharing, has created new security risks. 

He noted that about 40 percent of the breaches were linked to third-party providers, and 11 percent involved fourth-party suppliers.

“The more connected the systems are, the greater the risk of exposure becomes,” he said.

Vietnamese banks have embraced biometric identification, cross-referencing with national databases, and analysis of telecom and social media data to improve credit scoring. 

However, experts at the conference cautioned that inconsistent data quality and limited interoperability with tax and customs systems continue to hinder full digital integration.

Vu Ngoc Son of the National Cybersecurity Association added that artificial intelligence tools, while powerful, also require strong governance.

“How secure they are depends heavily on how they’re designed and deployed,” he said.