Vietnam: Issued ruling in MIC investigation into ShopeePay for alleged non-compliance with information security management measures

On 30 October 2024, the Ministry of Information and Communications of Vietnam (MIC) issued a ruling with a fine of VND 25 million against ShopeePay for failing to evaluate the effectiveness of its information system's management and technical security measures. The ruling noted that ShopeePay complied with various legal requirements on e-commerce security, including implementing security plans and handling personal information. However, ShopeePay failed to evaluate the effectiveness of its information system's management and technical security measures. The ruling specified that the company did not assess the completeness and suitability of its information security regulations. It was also highlighted that the design, establishment, and configuration of the system were not aligned with the approved information security plan.