Lecturer of DNU Banking and Finance Faculty "reveals" how to identify scams to steal money on the internet

With sophisticated and detailed scams, many gullible people, lacking knowledge about finance and information security, have had their money stolen from their bank accounts. The following article will help you recognize new scams early and take measures to protect yourself.

Wrong loan disbursement, demanding high principal and interest

Recently, a new scam has emerged to steal money from people's accounts. Specifically, the victim will receive a money transfer with the content LOAN. Next, the scammer will call the victim to inform them that they have just transferred money by mistake and ask them to return the money but transfer it to another account. After a while, the scammer will demand the victim's money and an exorbitant interest rate.

Many people suddenly become 'debtors' without knowing the reason.

Impersonating a bank employee, sending a link asking for personal information

In some cases, the subject impersonates a bank employee to inform that someone has mistakenly transferred money into the victim's account and instructs on the refund procedure. Then, the criminal will send a link asking the victim to fill in personal information. The purpose is to steal money from the account.

Impersonating a bank to send emails with files and links containing malicious code

Another sophisticated trick is for the subject to send a fake bank email informing the victim that they have received a sum of money and asking them to confirm the transaction by accessing a file or link containing malicious code attached to the email. Or, the subject sends a message impersonating the bank's brand to notify the victim's account of unusual activity and instructs them to confirm information, change passwords, etc.

When accessing the fake link sent in the message, the victim accidentally reveals his/her confidential information. Through that, the scammer will use this information to steal money from the customer's account.

Impersonating a network operator to request to convert 3G sim to 4G sim

Another trick is that the subject impersonates a network operator employee to contact and request to convert a 3G SIM to a 4G SIM via phone. The subject will send an SMS message/call to provide information about the new 4G SIM serial number (controlled by the scammer) and instruct the subject to text according to the network operator's syntax to convert from a 3G SIM (used by the customer) to a 4G SIM of the scammer.

In case the customer trusts and follows the instructions, the scammer can take over the right to use the customer's phone number. If the phone number is registered by the customer to use the e-banking service, the scammer can use the phone number to receive transaction information, OTP code combined with identification information (ID card/citizen identification, date of birth...) collected through social networks, email accounts... to reactivate the customer's e-banking service, make money transfers, pay for online purchases to take over money in the customer's account...

What to do to protect yourself from sophisticated scams on the internet?

Personal Information Security

Do not disclose personal information, card information (login name, password, OTP code...) to anyone, including relatives and bank employees. Fraudsters can use different tricks to steal passwords, account numbers and identification information. Therefore, do not provide access to this information to anyone. Check email addresses and links carefully before providing information.

The best way to return a mistaken transfer is to contact the bank where you opened your card directly so they can transfer the money from your account to the mistakenly transferred account.

Ask questions about everything

Ask yourself if the information requested is reasonable? Especially issues related to bank accounts. Absolutely do not perform transactions as requested by the subjects whenever you receive phone calls or messages with strange content, related to banking transactions (card top-up, withdrawal, bank transfer, accessing strange links...).

Please go directly to the nearest transaction office of the Bank to request support. Upgrading 3G SIM to 4G should be done directly at the branch locations, network transactions instead of through calls from strangers.

Never access any links/files from strangers.

Absolutely do not access or enter Internet Banking/Mobile Banking login information, OTP authentication code, account number... into strange links/software/strange applications. Do not follow instructions from strangers. Instructions for accessing links must be directly checked through the bank.

Report fraudulent activity immediately

Immediately contact your bank, police and authorities to report the scam.

MSc. Tran Thi Lan Phuong - lecturer of Finance and Banking Faculty, Dai Nam University