Securing Vietnam’s Digital Future

In a significant move aimed at fortifying the nation’s technological landscape, the Vietnam Authority of Information Security (AIS) has underscored the non-negotiable nature of cybersecurity in the current digital landscape.

Emphasising the indispensability of robust cybersecurity measures, the AIS recommended stringent adherence to these protocols across agencies, institutions, and businesses. In today’s digital landscape, the confluence of telecommunications and IT has redefined the contours of security, compelling institutions and businesses to recalibrate their approach to information security.

A workshop dedicated to IT and information security held in Hanoi spotlighted the criticality of information security investment for the digital future. A collaborative effort between AIS, Viettel Cyber Security, and IEC Group, the summit aimed at empowering institutions and businesses to proactively anticipate risks and navigate confidently through the complexities of the digital landscape.

Highlighting the severity of the situation, Nguyen Son Hai, CEO of Viettel Cyber Security observes that the digital transformation wave brings a torrent of information security risks. Viettel Threat Intelligence, for instance, reported 12 million hacked accounts within Vietnam, with 48 million data records compromised and traded in the cyberspace market. Moreover, the stark reality is that numerous entities remain unaware of being under cyberattack.

Financial fraud looms large on this precarious horizon. An alarming revelation showcases the exploitation of 5,800 domain names masquerading as commercial banks, e-wallets, manufacturing firms, and retail giants, posing a severe threat to users’ assets through deceitful means.

Ransomware, an escalating menace, presents formidable challenges to organisations and businesses. Its disruptive potential can cripple entire operations, with cybercriminals extorting exorbitant sums, sometimes reaching millions of dollars, from their victims.

Nguyen Son Hai highlighted the 300 GB of encrypted organisational data published on the Internet, indicating that the actual figures are likely higher, underlining the gravity of the situation.

Tran Dang Khoa from AIS stressed the perennial existence of information security risks, underscoring the urgent need for effective solutions. He outlined five pivotal criteria for cybersecurity solutions: legality, effectiveness, appropriateness, comprehensiveness, and a crucial emphasis on utilising solutions originating from Vietnam.

The paramount importance of legal compliance within cybersecurity frameworks cannot be overstated. Organisations providing online services bear a heightened responsibility to ensure compliance, as information security is mandated by law. Straying from these regulations can render entities liable in the event of security breaches.

Despite substantial investments in sophisticated protection systems, the efficacy of these measures remains questionable if they cannot detect and avert cyberattacks. The challenge lies in optimising system efficiency while rationalising costs – an arduous task that cybersecurity firms endeavour to address.

Khoa acknowledges the need to address existing vulnerabilities alongside fortifying against new threats. Neglecting existing risks within systems, and waiting for opportune moments for cyber assailants, poses significant dangers. Pre-emptive measures must focus on rectifying known vulnerabilities before investing in additional protective tools.

Khoa highlighted that vulnerabilities often emanate not from direct cyberattacks but from individuals within organisations possessing inadequate technological proficiency. Exploiting these individuals can cascade attacks throughout systems, amplifying vulnerabilities exponentially.

Empowering all personnel within organisations with robust cybersecurity knowledge and skills emerges as a pivotal defence mechanism. Khoa accentuated the criticality of imparting such knowledge to safeguard information systems comprehensively.

Furthermore, advocating for the utilisation of ‘Make in Vietnam’ products, solutions, and services assumes significance. Homegrown solutions tailored to address the specific intricacies of Vietnamese organisations offer unique advantages. These domestic solutions not only offer timely support but also demonstrate a deep understanding of local challenges, aiding in swift problem resolution.

As businesses and institutions navigate this dynamic digital terrain, the proactive integration of these strategies is pivotal in safeguarding against the multifaceted threats that loom large in the era of digital proliferation.