Hanoi, Oct. 23 -- Following a recent data breach at the National Credit Information Centre (CIC) and a surge in online scams, Vietnamese banks are stepping up cross-sector collaboration to protect financial data.

The upcoming signing of the United Nations Convention against Cybercrime in Hanoi, known as the Hanoi Convention, on October 25-26, highlights Vietnam's active role in building a secure and transparent digital environment, including for the banking sector.

The CIC incident, involving data of 52 million individuals and over 1.2 million businesses, served as a wake-up call about data breach risks. With 87% of adults holding bank accounts and nearly 90% of transactions conducted digitally, even a small system vulnerability could t...