At the 2025 National Cybersecurity Association (NCA) member meeting held on April 11, a striking statistic shared by NGS Consulting drew immediate attention: cybercriminals raked in an estimated USD 4.5 trillion in 2024 - equivalent to the world’s third-largest economy, trailing only the United States and China.

The growing sophistication of cyber threats and the severe shortage of cybersecurity professionals remain pressing challenges for Vietnam and the global community, according to experts speaking at the event.

Colonel Nguyen Ba Son, Deputy Director of A05 under the Ministry of Public Security, noted that while cyberspace offers many benefits, it also poses serious risks to national security and public safety. High-tech crimes are growing more complex, with increasingly deceptive tactics.

MobiFone representatives highlighted the surge in “stealer” malware - targeting browser data, Facebook accounts, and sensitive personal information. These attacks are driven by profit motives and often marketed as “Stealer-as-a-Service.”

One example is the VietCredCare malware group, which infiltrated the data systems of major Vietnamese agencies, businesses, and universities.

MobiFone also revealed alarming figures from 2024: ransomware attacks caused USD 11 million in losses; 14.5 million accounts were leaked; 10 terabytes of data were traded online; and 71% of cyberattacks targeted the banking sector. In addition, 924,000 DDoS (distributed denial-of-service) attacks were recorded.

The NCA survey further showed that online scams caused VND 18.9 trillion (around USD 760 million) in damages to Vietnamese users in 2024, with one in every 220 smartphone users falling victim.

NGS Consulting’s Director of Financial Banking Solutions, Nguyen Duc Bang, stressed the massive impact of cybercrime globally and in Vietnam. He cited worldwide losses from online banking fraud at USD 485.6 billion in 2023 alone.

“These figures show the scale of cyberattacks and how critical it is to invest in cybersecurity infrastructure, solutions, and collaborations to protect organizations and individuals alike,” Bang said.

He also emphasized the growing threat posed by AI-enhanced scams and the borderless nature of the internet. Cybercriminals are becoming increasingly sophisticated, deploying unpredictable and hard-to-detect fraud tactics.

To combat this, Bang urged users to avoid sharing personal information on unverified platforms, confirm all financial transactions beforehand, and use apps recommended by Vietnam’s Ministry of Public Security and other authorities to prevent fraud.

The NCA’s annual cybersecurity report also stressed the importance of reporting online scams to authorities. Timely reports enable law enforcement to investigate, gather evidence, and potentially recover victims’ stolen assets, especially when early intervention allows for asset freezes.

“Online scams will remain rampant in 2025. While government efforts are essential, individuals must also improve their cybersecurity awareness,” said Vu Ngoc Son, Head of Technology at the National Cybersecurity Association.

Van Anh