Mar 25, 2021 / 20:09

Cyber-criminals target Vietnam finance-banking SMEs

Cybersecurity companies predict that the rise of cyberattacks will continue in 2021 in Vietnam.

Vietnam’s small and medium enterprises (SMEs) in the industry of finance-banking, especially those providing e-wallet services, are still the subject of cybercriminals, according to tech experts.

 Cyber-criminals target Vietnam finance-banking SMEs. Photo: Chien Cong

Second in the list of favorite subjects of cyber crimes are SMEs providing internet-based services to customers (CRM products, logistics, e-commerce), according to Nguyen Huu Trung, founder of Cystack Cybersecurity JSC.

According to BKAV, Vietnamese network security solution provider, in 2020 alone, hundreds of billions of dongs were stolen through one-time password  (OTP) hacking and banking security breach. The increasing threat of cyber-attacks against financial service providers is driving a major focus on cybersecurity, particularly in banking. 

A recent survey in Southeast Asia conducted by Kaspersky showed that companies owning 50-250 employees in Indonesia, Thailand and Vietnam suffered the most phishing attacks in the region in 2020.

The fight against the Covid-19 pandemic is not over yet, so cybersecurity companies predict that the trend of cyberattacks will continue in 2021.

Effective early detection and response, as well as investment in technology to speed up response times, are key to reducing the impact of cybersecurity incidents and the costs associated with  personal data theft as well as minimizing business losses, according to IBM.