Vietnamese banks sound alarm over cybercrime
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Many banks in Vietnam have reported about customers losing information about their accounts to criminals through phishing attacks and other methods.
In a recent statement Techcombank said it had detected many cases of fraud and misappropriation of money by faking Western Union transactions.
The criminals would send victims fake Techcombank messages claiming they had received money through Western Union, and tell them to go to a fake Techcombank website and log in to confirm the transaction, resulting in their account information being stolen.
Maritime Bank has issued a statement cautioning customers about frauds in which criminals contact them through phone calls, text messages, social networks, and emails pretending to be the bank’s employees. They then ask the victims to provide their account information in return for money, promotions or prizes.
Other major banks such as VPBank and Vietcombank have also issued similar statements cautioning customers against revealing their OTP codes to anyone, including the banks themselves, under any circumstances.
They are also told to closely monitor their accounts to detect any abnormal activity, and report immediately to the bank if they receive suspicious calls or text messages.
According to global statistics recently released by cybersecurity firm Kaspersky Lab, nearly 36 percent of cyberattacks in the second quarter of 2018 were targeted at financial services, including over 21 percent targeting banks and 8.17 percent targeting online shops.
Financial experts have warned that Vietnam has become a hotbed of cybercrime, with criminals becoming increasingly sophisticated while banks still using old, insecure technologies and their customers lacking awareness of how or why to protect account information.
To counter the increase in cybercrime, the government has issued a decree requiring banks to secure their customers’ information and not to provide such information to any third party without written consent from customers.
Questions & Answers
Q.Which specific methods are criminals using to defraud Techcombank customers?
Which specific methods are criminals using to defraud Techcombank customers?
Criminals are sending fake messages claiming money has been received via Western Union. They then direct victims to a fake Techcombank website to log in and confirm the transaction, which results in their account information being stolen.
Q.What common tactic are criminals using to target Maritime Bank customers?
What common tactic are criminals using to target Maritime Bank customers?
Criminals are contacting customers via phone, text, social media, and email, pretending to be bank employees. They ask victims for their account details in exchange for money, promotions, or prizes.
Q.What measures have VPBank and Vietcombank advised their customers to take against fraud?
What measures have VPBank and Vietcombank advised their customers to take against fraud?
Customers are advised not to reveal OTP codes to anyone, including the banks themselves. They should also monitor accounts for unusual activity and report suspicious calls or texts immediately to the bank.
Q.What action has the government taken to address the rise in cybercrime among Vietnamese banks?
What action has the government taken to address the rise in cybercrime among Vietnamese banks?
The government has issued a decree requiring banks to secure customer information. This decree prohibits banks from providing customer data to any third party without their explicit written consent.
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