Abstract

This article analyzes the legal framework governing the protection of customers’ personal data in banking activities in Vietnam, particularly in light of the newly enacted Law on Personal Data Protection and the accelerating process of digital transformation. The expansion of digital banking services has significantly increased both the volume and sensitivity of personal data processed by financial institutions, thereby heightening the risks of data breaches, fraud, and unlawful appropriation of assets. Despite recent legislative developments, the regulatory framework still exhibits several shortcomings, including overlapping legal provisions, insufficient guidance on cross-border data transfers, and the lack of clearly defined responsibilities for third-party service providers within the digital banking ecosystem. Accordingly, the article proposes key directions for improving the legal framework to enhance the protection of customers’ privacy rights while ensuring the safety, stability, and sustainable development of the banking system in the digital era.

Keywords: Banking customers, banking law, digital banking, digital transformation, information security, personal data protection.