Personal data is rapidly becoming one of the most valuable assets in Vietnam’s digital economy - and, increasingly, a prime target for cybercriminals.

According to Lieutenant Colonel Nguyen Dinh Do Thi, Deputy Head of Division 1 under the Department of Cyber Security and High-Tech Crime Prevention (A05), online fraud networks now treat personal data as a “new goldmine” in their operations.

Speaking at a workshop on March 26, jointly organised by A05 and the National Cybersecurity Association, he stressed that data has become the lifeblood of digital transformation, particularly personal data, which carries both economic value and deep implications for privacy and national security.

A strategic resource with growing risks

Vietnam currently has around 85.6 million internet users, accounting for 84.2 percent of the population. This rapid expansion has turned personal data into a critical national resource - but also exposed it to significant risks if not properly protected.

“Personal data is a strategic and core resource, closely linked to human rights and privacy, with wide-ranging impacts on politics, the economy, society, national defence, security and foreign affairs,” Nguyen Dinh Do Thi said.

He warned that more than 30 types of cybercrime, particularly online fraud, rely heavily on collecting and exploiting personal data before carrying out attacks. Criminal groups deploy hundreds of evolving scenarios tied to current events and social trends, making it easier to deceive victims and appropriate assets.

These schemes, he noted, often result in substantial economic losses.

Businesses face compliance and operational challenges

From a corporate perspective, Bach Trong Duc of Vietnam Data Security Joint Stock Company emphasised that businesses must ensure strict compliance with legal regulations while proactively identifying risks related to data leaks or misuse.

Enterprises are also expected to develop and refine internal policies and processes for managing personal data, reducing the likelihood of violations and future liabilities.

He added that Vietnam is expected to introduce technical standards and regulations for personal data protection, developed through coordination between the Ministry of Public Security and the Ministry of Science and Technology, providing clearer benchmarks for compliance.

Barriers in implementation remain

Sharing insights on the sidelines of the event, Captain Pham Ngoc Hoa from A05 noted that many organisations still face common challenges in implementing personal data protection requirements.

These include the lack of a comprehensive approach to data protection within operational processes, incomplete mechanisms to ensure the rights of data subjects, difficulties in conducting cross-border data transfer impact assessments, and shortages of qualified personnel in data protection.

Given that personal data protection is still a relatively new area, authorities are prioritising awareness campaigns, guidance and training programmes to help organisations and individuals adapt.

The longer-term goal, according to A05, is to build a culture of compliance and strengthen public awareness, ensuring that personal data and privacy rights are respected across society.

Van Anh