Data theft attacks are on the rise: A barrier to the development of the digital economy.

The personal data leak at Vietnam's National Credit Information Center (CIC) adds to a series of incidents involving high-tech crime, which cost economies trillions of dollars annually.

Data breaches are not only a barrier to the development of the digital economy , but also a direct threat to the global economy.

Cybercriminals using advanced technology to steal data cause significant damage to economies. (Image : MPA Singapore)

Since the beginning of 2025, several high-profile personal data breaches have been recorded, such as the hacking of the customer service center of Qantas Airlines, which exposed the data of nearly 6 million customers.

Recent figures show that the scale and cost have gone beyond typical losses. In late April 2025, Marks & Spencer (M&S) suffered a system breach, affecting services such as online ordering, warehousing, and distribution, while customer data was exposed. The incident is estimated to cost the British retailer around $400 million in the 2025-2026 financial year.

A report by the non-profit Identity Theft Resource Center and IBM indicates that in 2024, the world recorded over 3,100 data breaches, with an average loss of approximately $4.88 million per incident. This number is projected to continue rising, potentially reaching $5.3 million this year if better control measures are not implemented.

Notably, Statista (a German online platform specializing in data collection and visualization) estimates that the total damage from cybercrime could reach $10 trillion annually, if all costs from data loss, business disruption, system restoration, and reputational damage are included.

Cybercrime is not just an isolated loss for individual companies; it damages supply chains, disrupts public services, and destabilizes markets. Large-scale attacks like WannaCry and NotPetya (in 2017) serve as prime examples. WannaCry infected hundreds of thousands of computers in over 150 countries, causing billions of dollars in losses; NotPetya, which primarily targeted systems in Ukraine, is estimated to have caused over $10 billion in damage to the global economy.

Similarly, the SolarWinds incident (2020) exposed vulnerabilities in the software supply chain, affecting thousands of customers and government agencies; the Colonial Pipeline attack (2021) forced the largest fuel pipeline system on the East Coast of the US to temporarily shut down, disrupting gasoline prices and supply; global food suppliers like JBS also had to temporarily suspend production and pay ransoms to restore operations. These incidents not only caused direct losses (extortion costs, remediation costs), but also entailed significant indirect costs, especially loss of customer trust and legal risks.

On an overall economic scale, Cybersecurity Ventures (a research and media organization specializing in cybersecurity) estimates that the global cost of cybercrime could reach trillions of dollars annually over the next decade. However, official figures only reflect the tip of the iceberg, as many organizations fail to report or conceal their losses. This leads to a double consequence: significantly increased cybersecurity costs for businesses (defensive investments, risk insurance) and inertia in digital transformation due to concerns about security risks.

Experts believe there are four main reasons why cybercrime is increasingly rampant. First, the high economic value of data and systems. Second, the highly profitable economy of organized crime, where a successful attack can generate millions of dollars. Third, vulnerabilities in the software supply chain, weak configurations, and lax access control management. Fourth, technological advancements enabling increasingly sophisticated remote attacks and extortion techniques. Reports also note an increase in attacks targeting cloud services, managed service providers (MSPs), and critical infrastructure, meaning the risk is becoming more systemic.

To address this, a multifaceted response is crucial: strengthening the legal framework for mandatory incident reporting, establishing minimum security standards, encouraging the sharing of threat intelligence between businesses and government agencies; and simultaneously boosting investment in detection and response capabilities, impenetrable backups, multi-factor authentication, vulnerability patch management, and software supply chain control.

Many countries have established regulations requiring entities to report incidents within a short timeframe; deployed international cooperation to track and dismantle criminal networks, seize assets, etc., creating a number of deterrent effects.

Overall, risks in the digital space are no longer just technological issues but have become macroeconomic risks. Effective response requires policy intervention, coupled with the responsibility and investment of the private sector. Neglecting these risks will erode the benefits of digital transformation, reduce investment incentives, and threaten financial security with long-lasting consequences, profoundly impacting economic and social security.

(According to Statista, IBM, Neowin)

Source: https://hanoimoi.vn/tan-cong-danh-cap-du-lieu-bung-no-rao-can-phat-trien-kinh-te-so-715925.html