State Bank warns criminals to rent and buy accounts to scam and borrow

DNHN - Account lending and leasing constitute a type of fraud. If the subjects utilized this account to borrow money, the repercussions would be unfathomable.

According to Mr. Pham Anh Tuan, Director of the Payment Department (SBV), the Penal Code of 2015, as amended and supplemented in 2017, prohibits the unauthorized use of accounts. But account leasing and lending are unregulated, so the government can only handle administrative issues.

According to Mr. Pham Anh Tuan, the State Bank of Vietnam has received a large number of documents from police agencies of provinces and cities investigating bank lending and leasing cases. This demonstrates that the legal awareness of a portion of the population is low. They believe renting and lending accounts will not be problematic.

"Even though they are administratively sanctioned, the amount of money they are sanctioned is significantly greater than the 300,000-500,000 VND they receive from account rental," Mr. Tuan explained.

The lending and leasing of accounts constitute a form of fraud in which the lessor incurs no financial loss. If the subjects utilized this account to borrow money, the repercussions would be unfathomable. As a result, the fact that banks can access the National Population Database (National Database of Population) and conduct electronic authentication will prevent fraudulent acts, such as those described above.

When banks are connected, they will have data on customers' faces; as a result, fraud at counters and in the online environment will be reduced, and individuals will feel more secure. Especially with the chip-mounted CCCD, every individual's data is integrated into the chip, preventing the bank from being overrun by objects.

"If banks impose limits on withdrawals from customer accounts, biometric authentication is an absolute necessity. No criminal organization can make a withdrawal using another person's identity. Thus, we will protect customers, increase the level of security, and provide people with peace of mind when utilizing banking services in the digital environment, as stated by Tuan.

In 2023, the banking industry will also implement a series of changes at the transaction counter to ensure accurate identification and identification of bank customers.

The director of the Payments Department stated that banks must also manage crime prevention. "It cannot be irresponsible to simply open (an account), make a profit, and develop the network so that all the consequences of risks and associated issues fall on the management agencies and enforcement agencies," he said.

According to the advice of the banks, the most important factor in avoiding being duped by criminals is still the vigilant vigilance of every citizen. To protect customer accounts, VPBank has recently issued a warning about current scams.

Consequently, there are three predominant phishing trends: message spoofing, email spoofing, and bank spoofing. For the trick of forging brand messages, criminals create fake messages announcing contents such as deduction of money or debts and services for which the account holder has not registered; notify the account is locked or log in on an unfamiliar device; or send a message requesting the account holder click on the fake link in the message to cancel, pay for services, or authenticate. If you click on the fake link and enter your login information, password, OTP code, etc., criminals will gain access to your accounts and take control of them.

PV (t/h)