The State Bank of Vietnam’s Circular No. 50/2024/TT-NHNN regulating safety and security for the provision of online services in the banking sector (“Circular 50”), issued on October 31, 2024, took effect on January 1, 2025, with delayed effectiveness for certain provisions on (i) network, communication, and security systems, online banking application software, and mobile banking application software (July 1, 2025); (ii) transaction confirmation for payment transactions conducted via the straight-through processing method (January 1, 2026); and (iii) authentication forms and reporting obligations (July 1, 2026). The cybersecurity situation in Vietnam is complicated, and the banking and finance sector has been one of the top targets of high-tech criminals. Circular 50 seeks to enhance user protection by expanding the technical requirements to more services in the banking sector as well as standardizing how transactions are authenticated. Expanded Scope of Services Covered Previous regulations on safety and security of online services in the banking sector only covered banking services and intermediary payment services. Circular 50 expands the scope to include other services of credit institutions and foreign bank branches such as credit information services, foreign exchange services, securities depository services, and services related to factoring and letters of credit, which now need to comply with technical requirements and standards for online services such as firewalls and DMZ network barriers. Risk-Based Approach to Authentication Circular 50 sets out standards for payment transactions and card transactions by: Classifying various online transactions based on the type of client, the purpose of the transfer, the value of the specific transaction, and the total value of certain transactions during the day; and Applying various types of authentication for the corresponding types of online transactions, e.g., using passwords or PINs for small-value online transactions, and using OTPs (through SMS, voice, or email), biometric matching, or e-signatures for

On January 8, 2025, Thailand’s Office of the Personal Data Protection Committee published two notifications in the Government Gazette—one for data controllers and the other for data processors—concerning exemptions for data controllers and data processors from the requirement to create and maintain records of processing activities (ROPAs) under the Personal Data Protection Act B.E. 2562 (2019). The notification for data processors took effect on January 9, 2025, the day after its publication. The notification for data controllers will take effect on April 8, 2025. The content of these notifications is identical to that in the draft versions of the notifications previously released for public consultation in October 2024. For more information on the ROPA exemptions for data controllers and data processors, or on any aspect of personal data protection in Thailand, please contact Nopparat Lalitkomon at [email protected] or Wilin Somya at [email protected].

On January 1, 2025, Myanmar’s State Administration Council enacted Cybersecurity Law No. 1/2025, which aims to regulate various aspects of digital security and online activities. The law has not yet been implemented and will come into force on a date specified by the Myanmar president, who will also provide an official adoption and compliance timeline for individuals and organizations impacted by the new regulations. Below are some of the key provisions, implications, and penalties under the Cybersecurity Law. Extraterritorial penalties. The law contains an important provision that authorizes penalties against Myanmar citizens who are found guilty of violations, even if these occur outside the country’s borders. VPN definition and regulation. Virtual private networks (VPNs) are defined by this law as specific systems that function as backup networks by using technological means in order to ensure the safety of linking networks to each other. This definition sets the framework for subsequent regulations and penalties associated with VPN usage. The law does not restrict individuals or entities from using VPNs; it regulates VPN service providers. Penalties for unapproved VPN services. Establishing a VPN or providing VPN services without approval from the designated ministry (to be appointed later by the government) can result in significant penalties. For individuals, the punishment may be imprisonment for 1–6 months, a fine of MMK 1–10 million (approx. USD 476–4,760), or both, with the proceeds of the violation being confiscated. If the violator is a company or organization, the minimum fine will be MMK 10 million, and the proceeds will be confiscated. Government oversight. The ministry designated by the government is authorized to investigate and take control of cybersecurity services and digital platform services for national defense and security purposes, or upon request from a government department or organization in accordance with respective laws. Licensing requirements. The

On December 24, 2024, the government of Vietnam issued Decree No. 163/2024/ND-CP, providing guidelines for implementing the new Telecommunications Law that took effect on July 1, 2024 (“Decree 163”). This new decree replaces Decree No. 25/2011/ND-CP and its amendments (“Decree 25”) and took effect immediately upon issuance, with regulations on data center services, cloud computing services, and basic telecom services over the internet (“over-the-top” or OTT telecom services) having an official effective date of January 1, 2025. Decree 163 introduces substantial changes across the telecom sector, covering various aspects including service provision, licensing, standards and technical regulations, quality, passive infrastructure planning, dispute resolution, and more. Hence, it is necessary for enterprises to conduct a compliance review to identify gaps between the new decree and their business models, and take necessary steps to ensure lawful business operations in Vietnam. Below are some highlights of Decree 163. Expanded Scope of Services For basic telecom services, Decree 163 has introduced machine-to-machine (M2M) communication and classified it as a basic telecom service. This establishes a regulatory framework for IoT device communication, previously unregulated in Decree 25. For value-added telecom services, in light of the new Telecommunications Law, Decree 163 provides more detailed regulations for new telecom services such as data center services, cloud computing services, and OTT telecom services, which were not addressed in Decree 25. Regulation of Three New Telecom Services Expanding on the Telecommunications Law’s definitions of data center services, cloud computing services, and OTT telecom services, Decree 163 applies a light-touch management approach to regulate these three new services, as follows: Offshore providers: Cross-border service providers are exempt from signing commercial agreements with licensed local telecom companies. They only need to notify the Vietnam Telecommunications Authority (VNTA) using the prescribed procedures and forms before offering services. Onshore providers: The foreign