Economic Sector

Last updated: Monday, April 22, 2019


Vietnamese Businesses Need Proactive Responses to Cyber Threats

Posted: Wednesday, August 15, 2018

More than 86 million threat emails had been detected in the first half of 2018, indicating that Vietnam is a target for cybercriminals and that companies and government agencies must seriously consider cybersecurity. Businesses must protect themselves against online threats in this connected world.

A big threat to the business
Cybersecurity has now become the biggest threat to all companies and organisations around the world. In Vietnam, cybersecurity has always been raised at an alarming rate, with a series of intentionally targeted attacks on airports, banks and websites being clear-cut evidence. Cyberattacks not only result in severe financial loss, but also interrupt business operations.

Global security statistics show that intentionally targeted attacks have been growing in number, with various types of attacks, and sophisticated tricks that seem to be harmless. A simple email may carry malicious codes or use tricks to steal personal information. Intentional attacks are designed to give the attacker an almost permanent internal path to steal and destroy victim database.

In the past, an email scam may have affected only one individual in a company, but it now spreads to over 200 different countries, and Vietnam is no exception. Business Email Compromise (BEC) is fast, unmonitored.

Mr Myla Pilao, Director of Trend Micro, said, antivirus software and security software currently used by many organisations, businesses and individuals do not work to prevent threats.

Active responses
At the Security Trends Forum 2018 themed “Carrying out Effective Cybersecurity Strategy at Vietnamese Businesses - Let Nothing Slow You Down” recently held in Hanoi, Mr Myla Pilao, Director Trend Micro, said, businesses need to defend themselves against cyber threats in this connected world.

In fact, against the backdrop of the current Fourth Industrial Revolution, Vietnamese firms are starting to prepare and transform themselves strongly to apply information technology to convert data digitisation and working processes to improve competitiveness, increase profitability and bring more value-added services to customers. This very digital evolution is quickly making enterprises cyberattack targets. Vietnam is leading Southeast Asia in cyberattacks, with more than 86 million threat emails detected in the first half of 2018, followed by Singapore with 27 million threats, according to Trend Micro’s latest report.

Under the pressure of digital evolution, enterprises fall short of high-level IT manpower, especially those with certified knowledge of international security.

Researches showed that enterprises deploying virtualisation technology and cloud computing are facing huge challenges on the serious shortage of control system personnel. Meanwhile, constantly evolving new technologies are changing at a tremendous rate, from cloud computing, big data, internet of things (IoT), virtual reality (VR), artificial intelligence (AI), and blockchain technology. Besides, the corporate workplace requires rising mobility and interconnectivity of employees. Security, therefore, becomes increasingly essential, requiring Vietnamese businesses to take a more proactive approach to counter threats that may occur at any time.

Most businesses are aware that data is a valuable asset, and security and confidentiality must be a top priority as information technology investment. In the past time, despite improvements, security funds are still low for actual demand.

More importantly, Vietnamese companies do not fully understand cybersecurity, thus their limited investment and tools for effective cybersecurity strategies in this digital evolution process.

Ha Vu

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