Identity theft is on the rise as fraudsters find new ways to trick customers

VIETNAM, August 6 –

HÀ NỘI — Identity theft is not a new crime on the financial and banking scene, but insiders said a new twist on an old problem that banks and customers should be concerned about exposes the need for increased cybersecurity.

Trương Đức Lượng, chairman of Vietnam Network Security JSC, revealed that dangerous actors may use SEO (search engine optimization) to improve the ranking of their websites in search results when people search for information online.

The more visibility websites have in search engines, the more likely they are to generate more clicks and attract more potential victims. Once visitors click on websites, they are vulnerable to malicious schemes leading to financial loss and identity theft.

Another tactic is to use the online advertising network to spread malicious links. Gullible users who click on the links have their browsers hijacked with fake warnings. They fall victim to various scams if they follow the instructions in the links.

The president urged banks to use brand listening tools to analyze public opinion about their brands on social media, through which they could track down malicious websites mimicking their official sites.

Information campaigns could also be launched to properly inform bank customers about identity theft and increase their vigilance in the face of suspicious sites.

Ngô Tuấn Anh, vice president of the Vietnam Information Security Association, said cyber criminals normally transfer their fraudulent money to various bank accounts and use it to buy cryptocurrencies to hide the trail.

Once the money has been laundered into cryptocurrencies, the damage is done and it is difficult to recoup the loss. Therefore, scam victims should report their case to the banks as soon as possible to avoid further losses and maximize the money recovered.

“We should develop a mechanism for instant reporting to help scam victims get their money back as much as possible,” he said.

Văn Anh Tuấn, Senior Director of Information Security Administration at Techcombank, claimed that banks have invested heavily in cybersecurity to prevent identity theft and have had success.

In the past, fraudsters could easily impersonate someone and steal money from their bank accounts once they got their username, password, and OTP code.

This is no longer the case now, as bank customers will receive warnings from security systems when fraudsters attempt to access their bank accounts through an unknown device, adding another layer of security to banking transactions.

The manager gave some tips to help bank customers stay one step ahead of scammers. Customers should Google unknown phone numbers. If a phone number claims to be that of a bank employee, ask for credentials. A good search on Google is sometimes very effective against imitators.

Nguyễn Thành Đạt, deputy director of Vietnam Cyberspace Security Technology, noted that bank customers normally don’t know what to do and where to call for help when they fall prey to scams.

For this reason, he suggested an easy-to-remember helpline number through which scam victims could report their cases to banks and seek help from bank staff more efficiently.

“Bank customers should be more careful online. They should call their bank’s customer care center whenever they receive a suspicious request from someone claiming to be bank staff.” , he added. —VNS

Comments are closed.