Vietnamese people lost 18,900 billion VND due to fraud in 2024

Online scams will continue to be rampant in 2024, with 1 in 220 smartphone users in Vietnam falling victim to scams. The most common form of scam is investment solicitation.

Vietnamese users lost 18,900 billion VND due to fraud in 2024 - Photo: THANH PHUONG

These are the outstanding figures from the 2024 cybersecurity research and survey report released by the National Cyber Security Association on December 16.

Virtual space but real damage

Cheat Online fraud continues to rage, causing serious consequences for hundreds of thousands of Vietnamese users in 2024. The loss of 18,900 billion VND is an alarming figure for the online fraud situation in Vietnam.

However, the reality shows that the number of victims of fraud is large but the number of people who can get their money back is very small. When falling into a fraud trap, although 88.98% of users said they immediately warned and talked to relatives and friends, only 45.69% of respondents said they reported it to the authorities.

According to experts from the Cyber Security Association, reporting to the authorities when encountering fraud is essential to protect the rights of the victim and prevent illegal acts.

Firstly, reporting will help authorities have timely information to investigate and collect evidence, thereby increasing the ability to arrest and handle fraudsters.

Second, reporting can also help victims recover part or all of their stolen property, especially when authorities intervene early and lockdown related assets

Common forms of fraud

The forms of attacks on users by scammers are very diverse and sophisticated. Of which, the 3 most common forms in 2024 include: luring users to participate in investment tricks fake, promising high profits; impersonating the identity of an agency or organization; fraudulently announcing big prizes or promotions.

According to survey results, 70.72% of users have received invitations to invest financially in exchanges of unknown origin but committed to no risk and high profits.

62.08% said they encountered calls impersonating agencies and organizations (police, court, tax, bank...) urging them to install software or threatening to transfer money to prove their innocence due to involvement in violations of the law.

60.01% said they received notifications of winning prizes and high promotions, but the information was very vague and unusual.

In addition to sophisticated scenarios, scammers have used many modern technologies such as artificial intelligence technology. Deepfake to create fake videos and voices to build trust from victims; apply automated tools (chatbots) to continuously communicate with victims; use specialized software on computers to make telecommunication calls, reach many people at the same time...

The application of high technology makes it difficult for many victims to distinguish between real and fake content when exposed to fake content, leading to easy deception.

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