Most financial fraud cases in Vietnam exploit banking data

HANOI, Dec. 11 (Xinhua) -- Banking data were exploited in 91 percent of the financial fraud cases reported this year in Vietnam, online newspaper VnExpress reported Monday, citing statistics from the Authority of Information Security under the Ministry of Information and Communications.

According to the authority, among 15,900 reported financial fraud incidents, the vast majority implicated the banking system.

The main tactics used by criminals included counterfeiting and account hijacking, among 24 identified fraudulent methods.

The authority has blocked over 4,000 websites and shielded 3.6 million internet users from such fraudulent activities.

Nguyen Hoang Long, deputy CEO of Vietnam's payment service provider Napas, stressed the necessity of standards to protect customer rights during digital transactions, urging for a set of banking system standards to address related concerns.