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- Vietnam’s presence on the internet has been increasingly growing as nearly two-thirds of the population are netizens.
- The Ministry of Public Security in Vietnam is now imposing a government decree for the personal data protection of individuals.
- The Ministry also went on to acknowledge that personal data is an asset of the digital industry and provides useful input to a lot of digital applications.
The Ministry of Public Security in Vietnam is now imposing a government decree for the personal data protection of individuals and organizations due to increased data theft as of recent.
The country has been facing issues of personal data raiding, with more and more organizations collecting and analyzing underlying user data without the knowledge of the user.
The Ministry has mandated the need for the development of the law regarding personal data protection since services such as online payments, games, cryptocurrencies, online businesses, and e-commerce have to lead to threats to national security and social order.
Vietnam’s presence on the internet has been increasingly growing as nearly two-thirds of the population are netizens, of which they’re expected to be about 58 million Facebook accounts and 62 million Google accounts.
The Ministry also went on to acknowledge that personal data is an asset of the digital industry and provides useful input to a lot of digital applications such as e-commerce and taxation in being able to authenticate and identify the customers.
Vietnam also holds to be a very strong and growing market for cryptocurrencies, so ensuring a strong legal base in the protection of user data will be critical for the growth of the crypto industry there.
But this gathering of personal data had happened at the expense of its security, such as when a bank in Vietnam exposed more than two million customer’s data.
During the previous years, the user data of large companies in retail and aviation sectors have also fallen prey to hackers. Currently, Vietnam also holds the highest number of individuals responsible for the Cambridge Analytica scandal that happened in early 2018.
A report gathered on the companies that were involved in data breaches and theft included the theft of 163 million user accounts from VNG Company, Mobile World and 5 million emails and payment information leaks from Dien May Xanh, and the leakage of customer data from the FPT Company.
The Public Security Ministry in Vietnam has recognized this as a problem of data management, and a proper law needs to be in place to prevent legal violations of data involving a user’s personal information, while also complying with international law.
The decree will also further define the rights and responsibilities of agencies, organizations, and individuals in protecting their data, meeting guidelines, and creating a legal foothold for the protection of their data.
The decree will also mention the punishments for violations of the same, and it is now being sent to other ministries and agencies to gather ideas and opinions on further improving the decree.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
