Vietnam warned over rising credit card-related crimes

Vietnam has recently reported several criminal cases related to counterfeit credit cards and the situation may well get worse in the future.

Criminals are now using more sophisticated methods, thanks to advances in technology, making them much harder to catch.
Not only Vietnamese criminals but also foreigners, now use electronic devices to steal personal information about credit card holders and make counterfeit cards to steal money from ATMs.
Recently, police detected three Bulgarians who used fake ATM cards to withdraw over VND100 million (USD4,727).
Between 2011 and 2012, the Department of High-tech Crime Prevention (C50), under the Ministry of Public Security, detected more than 10 cases of such crimes. Many of the culprits were Malaysian and Chinese people who came to Vietnam to make counterfeit credit cards and passports to use for purchases of expensive goods like smartphones, laptops and even diamonds in HCM City, Hanoi and Danang City.

Three Malaysian criminals  the bar
All of the detected offenders have been tried and jailed for asset appropriation.
Banking experts said that credit card-related crimes tend to move from Europe to Asian countries like Vietnam after European countries succeeded in applying high-tech measures.
In order to deal with the situation, the State Bank of Vietnam has requested that card-payment agencies intensify their security systems and that they should be trained in skills that help them recognise false cards.

Category: NEWS