Protecting users crucial in building digital trust: Experts

In Vietnam, digital transformation in the finance and banking sector is accelerating cashless payments, expanding access to financial services, improving market transparency and supporting economic growth and macroeconomic management.

As the Fourth Industrial Revolution and the rapid rise of artificial intelligence (AI) are reshaping the global financial system, digital transformation and the building of digital trust are no longer optional but essential for countries seeking to drive digital economic growth and enhance competitiveness, according to experts.

From financial digital transformation to building digital trust

In Vietnam, digital transformation in the finance and banking sector is accelerating cashless payments, expanding access to financial services, improving market transparency and supporting economic growth and macroeconomic management.

chungkhoan1-5706.jpg
A panel discussion on “Digital trust in the AI era: Security starts with the users” at the Digital Trust in Finance 2026 forum. Photo: nhandan.vn

However, increasing digitalisation has also heightened risks related to data security, online fraud, digital financial manipulation and declining user trust. According to the Ministry of Public Security, losses from online fraud in Vietnam exceeded 8 trillion VND (303.7 million USD) in 2025, highlighting growing threats to consumer confidence and the security of the financial ecosystem.

Speaking at the Digital Trust in Finance 2026 forum recently held in Hanoi, Deputy Minister of Public Security Pham The Tung stressed that sustainable growth of the digital economy, particularly in finance, depends on trust. If data is the fuel of the digital economy, trust is the soft infrastructure that enables the entire financial system to function effectively.

The banking sector has been among the leaders in digital transformation, but growing reliance on technology has created new vulnerabilities. Increasingly, cybercriminals are targeting users rather than banking systems themselves, underscoring the need to shift risk management towards protecting customers throughout the digital journey.

Digital financial security

Traditionally, digital financial security focused on protecting technical infrastructure such as servers, payment systems, banking data and networks. Today, users have become the most vulnerable link in the security chain.

Modern financial scams are becoming more sophisticated, such as AI-generated voice impersonation, deepfakes, fake banking applications, fraudulent impersonation of police officers or bank staff, malicious links and remote control of mobile devices. These tactics make it increasingly difficult for ordinary users to distinguish between legitimate and fraudulent activities.

Deputy Governor of the State Bank of Vietnam Pham Tien Dung said digital financial security in the AI era cannot rely solely on firewalls, encryption and intrusion prevention systems. Greater attention must be paid to protecting user awareness, digital behaviour and public trust. Building and safeguarding trust requires effective institutions, technology, risk management and inter-agency coordination.

At the same time, AI offers major opportunities to improve operational efficiency, automate processes, personalise services, enhance credit scoring, detect suspicious transactions and strengthen anti-fraud and anti-money laundering efforts. Advanced AI systems can identify abnormal transactions in real time, automatically block suspicious activities and learn from previous attacks to improve their defences. AI can also support personalised security through unique digital behavioural profiles for individual customers.

Recognising the importance of digital financial literacy, the Government has promoted nationwide digital literacy programmes aimed at helping citizens identify AI-enabled scams, strengthen cybersecurity awareness and develop habits of information verification. Technology companies have also expanded grassroots initiatives to provide digital tools and training for local communities.

Colonel Nguyen Hong Quan, Deputy Director of the Department of Cybersecurity and High-Tech Crime Prevention under the Ministry of Public Security, emphasised that building digital trust requires protecting users, safeguarding the broader ecosystem and establishing effective multi-stakeholder cooperation mechanisms.

As a result, building digital trust in finance is no longer solely the responsibility of the banking, financial or technology sectors, but has become a strategic requirement for the development of Vietnam’s digital economy as a whole, the official underlined.

en.vietnamplus.vn

Other News

Top leader calls for greater contribution from Vietnamese experts in Canada

Top leader calls for greater contribution from Vietnamese experts in Canada

At a meeting with representatives of the Canadian Vietnamese Scientists and Experts Association (CVSEA) on September 25 (local time), the top leader praised the contributions and professional capabilities of Vietnamese experts and intellectuals in Canada, describing them as a valuable intellectual resource and an important bridge connecting Vietnam with Canada and the wider world.

Hanoi approves controlled pilot of two technology projects

Hanoi approves controlled pilot of two technology projects

The two projects involve an intelligent autonomous transportation system developed by Phenikaa-X JSC and a technology for producing mixed rare-earth oxides with a purity of over 95% on a semi-industrial scale developed by the Mining Technology and Construction Consultancy JSC.

Banking industry in AI era: When data becomes competitive advantage

Banking industry in AI era: When data becomes competitive advantage

In just a few years, AI has evolved from an experimental technology into an “assistant” for many banks, supporting everything from customer service, credit approval, and fraud detection to risk management. However, as the technological gap between institutions narrows, a new question is emerging: What will determine banks' competitive advantage in the AI era?

Bac Ninh considers establishing AI centre of excellence

Bac Ninh considers establishing AI centre of excellence

A meeting has been held in Bac Ninh to discuss potential cooperation with Plug and Play in developing the northern province’s innovation ecosystem and establishing an artificial intelligence (AI) centre of excellence, with Standing Vice Chairman of the provincial People’s Committee Mai Son receiving a delegation from the global innovation platform.

Hanoi allows 24-month trial of autonomous vehicles at Hoa Lac

Hanoi allows 24-month trial of autonomous vehicles at Hoa Lac

The project aims to assess the safety, reliability and readiness of autonomous vehicles under real traffic conditions, as well as the effectiveness of autonomous public transport and compatibility with existing systems. Its results will contribute to developing technical standards, operating procedures and management models suited to Hanoi’s traffic conditions.

Singapore's experience suggests solutions to Vietnam's human resources challenge in AI era

Singapore's experience suggests solutions to Vietnam's human resources challenge in AI era

As Vietnam accelerates digital transformation and high-tech development, Singapore’s experience and the engagement of global technology companies demonstrate that human resources preparation must stay ahead of the curve. The ability to filter knowledge, collaborate, innovate and effectively use AI will increasingly become essential to helping workers adapt to a changing labour market and strengthening the competitiveness of Vietnam’s economy in the new era.

Protecting national security amid digital transformation, cyberspace

Protecting national security amid digital transformation, cyberspace

Cybersecurity, information security and data security risks must be identified and addressed early and from afar, with appropriate defensive measures ready to neutralise threats and protect national interests in cyberspace, said Lieutenant General Le Xuan Minh, Director of the Ministry of Public Security’s Department of Cybersecurity and Hi-tech Crime Prevention (A05).

Mekong Delta launches first robotics, AI research institute

Mekong Delta launches first robotics, AI research institute

Dr. Nguyen Van Quang, Rector of Nam Can Tho University, said the university is developing a value chain covering training, research, technology development, testing, technology transfer and commercialisation. The model is designed to link research more closely with practical needs, ensuring that technologies generate products and products create value for society.

Vietnam positioned to harness AI wave, World Bank report says

Vietnam positioned to harness AI wave, World Bank report says

The WB report identifies Vietnam as one of the few economies outside the European Union (EU) to have adopted a comprehensive AI regulatory framework as early as 2025. Vietnam applies a risk-tiered approach similar to that of the EU AI Act, imposing different obligations depending on whether an AI system poses “unacceptable,” “high,” “low” or “minimal” risks. The approach is viewed as a strategic step towards ensuring safe and transparent AI governance.