Vietnam's National Credit Data Center Hit by Sophisticated Cyberattack

VIETNAM CONFIRMS CYBERATTACK ON NATIONAL CREDIT DATA CENTER Hanoi, Vietnam - The State Bank of Vietnam's National Credit Information Center (CIC) has confirmed a cyberattack that may have exposed sensitive creditor information. According to Reuters, the scope of the breach remains unclear for now. Initial investigation indicated signs of unauthorized access aimed at stealing personal data, with the extent of the breach still being assessed by investigators. The Vietnam Cybersecurity Emergency Response Center (VNCERT) received a report from CIC about the incident on September 11. "We are working closely with financial institutions to assess the impact and take necessary measures to prevent similar incidents in the future," said a spokesperson for VNCERT. The credit information service system remains fully functional, according to CIC. However, authorities suspect that Shiny Hunters, a hacking group known for breaching major firms including Google and Microsoft, may be behind the system breach. "We have reason to believe that Shiny Hunters may be responsible for this attack," said an investigator from VNCERT. "We are working with international partners to investigate further." The incident has not disrupted operations or caused any damage, according to CIC. However, the potential consequences of a data breach are significant, and experts warn that sensitive information could be used for identity theft or other malicious purposes. "The impact of this breach will depend on what type of data was compromised," said cybersecurity expert Nguyen Van Thang. "If personal financial information was stolen, it could lead to serious consequences for individuals and businesses." The CIC operates under the State Bank of Vietnam, which regulates the country's banking system. The center provides credit information services to financial institutions, including risk assessment and credit scoring. In recent years, Vietnam has faced a growing number of cyberattacks, with many targeting government agencies and financial institutions. The country has implemented measures to improve its cybersecurity, but experts warn that more needs to be done to protect against sophisticated attacks. The investigation into the CIC breach is ongoing, and authorities are working to determine the full extent of the damage. As the situation unfolds, experts will continue to monitor the developments and provide guidance on how to prevent similar incidents in the future. In related news, the Vietnamese government has announced plans to increase funding for cybersecurity initiatives, including the development of a national cybersecurity strategy. The move aims to enhance the country's ability to respond to cyber threats and protect against data breaches. The CIC breach serves as a reminder of the importance of robust cybersecurity measures in protecting sensitive information. As technology continues to evolve, experts warn that the risk of data breaches will only increase unless adequate safeguards are put in place. For now, the focus remains on assessing the scope of the breach and preventing further damage. As the investigation unfolds, one thing is clear: the consequences of a cyberattack can be severe, and it's essential for governments, businesses, and individuals to work together to protect against these threats. *Reporting by Techradar.*