Tuesday, 02 January 2024 12:17 GMT

A Data Breach Of Epic Proportions In Vietnam


(MENAFN- Asia Times) This month, over 160 million credit records held at Vietnam's National Credit Information Center (CIC), a unit managed by the State Bank of Vietnam, were stolen and posted for sale online for US$175,000 .

The massive breach, allegedly carried out by the hacker group ShinyHunters, exposed the personal data of virtually every Vietnamese citizen above the age of 18.

Yet, beyond the cybercrime headlines, the scandal raises a deeper, more troubling question: What happens when a government simultaneously loses control of citizens' data, while also proposing to sell it?

Vietnam's Ministry of Public Security (MPS ) has recently introduced a draft law proposing the establishment of a national data exchange platform.

Framed as a way to unlock the value of data for economic development, the platform would allow for the trading of both personal and non-personal data, under certain conditions. While the ministry promises that individual consent will be required, the mechanism for ensuring such consent remains vague.

At the same time, Vietnamese citizens affected by the CIC leak were not notified: not by the CIC, not by relevant banks and not by any state institution.

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