Ho Chi Minh prosecutors have submitted to the court an indictment against Nguyen Pham Gia Tho, a former employee of ANZ, and his sister-in-law Nguyen Tuong Vi, director of an agricultural product export/import company, for appropriating property through fraud. According to the indictment, in 2015, Tho was head of customer relations at ANZ's South Saigon branch in District 7 and was tasked with mobilizing savings deposits, providing insurance sales advice and proposing mortgages. During his time, he allegedly falsified signatures of customers with saving accounts to register for internet banking service and then transferred their money into his or his relatives' accounts. Specifically, in early 2016, Tho was asked by a customer named Mai to help manage her bonds worth VND3 billion ($130,000) with securities firm VPBS. Abusing her trust, he falsified six contracts to mortgage the bonds and secure loans from VPBS. Tho asked his mother to impersonate Mai and register for internet … [Read more...] about Former ANZ Bank employee to stand trial in $4 million fraud case
Joint bank accounts
Spurring e-banking development
E-banking and mobile banking will become an indispensable trendGreat development opportunities According to the International Data Group (IDG) in Vietnam CEO Le Thanh Tam, technological application in the Vietnamese banking sector has become clearer in 2015 with a series of convenient banking services. E-banking and mobile banking will become an indispensable trend in the coming time. According to commercial banks, Vietnam’s population has reached more than 92 million and 55 percent of them have used smart phones to access the internet for at least two hours per day. Strong growth of payment cards has also clearly reflected the popularity of consumer trend not using cash. Huynh Song Hao from the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said that e-commerce was strongly developing in Vietnam with sales of US$2 billion in 2013, US$2.97 billion in 2014 and around US$4.13 billion in 2015, opening many opportunities for commercial banks to deploy retail … [Read more...] about Spurring e-banking development
Local banks warn of online fraud
Many local banks have repeatedly warned their customers about sophisticated hi-tech scams that could leave victims with little or no protection from their banks, Tien Phong newspaper reports. A customer withdraws cash at an ATM The Bank for Foreign Trade of Vietnam (Vietcombank) said in a notice that some of its customers have recently transferred money to unintended persons, after their customer emails were hacked. The scam goes like this. Thieves spy on emails sent between customers and their partners, and then illegally change bank details on transaction documents so that money could be sent abroad. Crooks are targeting small and medium-sized businesses which have low levels of security in their network management systems, or have not put in place sufficient regulations on safe email usage. Following the money transfers, the victims have asked Vietcombank to retrieve their money from foreign banks, especially in China, Malaysia, the United Kingdom and the United States. However, … [Read more...] about Local banks warn of online fraud
Banks warn customers over online scamming
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) have issued official warnings to customers over online phishing scams. An user logs onto BIDV’s e-banking platform. - Photo thebank.vn Both banks have reported information theft through e-banking counterfeiting, with cardholders’ negligence taken advantage of to steal their personal information, card data and passwords by asking them to input these on a fake website programmed to resemble the banks’ authentic online platform. For example, two fake addresses were listed as homebank247.com/Bidv, or homebank247.com/Vietcombank. These fraud sites used forged interfaces mimicking the two banks’ real online banking services domains. Vietcombank and BIDV confirmed that their official registered websites are vietcombank.com.vn and bidv.com.vn, respectively. To protect personal information, Vietcombank … [Read more...] about Banks warn customers over online scamming
First Vietnamese bank issues ATM card through LiveBank
TPBank has been the first bank in Việt Nam issuing ATM card through its LiveBank. — Photo cafef.vnViet Nam News HÀ NỘI — Tiên Phong Joint Stock Commercial Bank (TPBank) has updated a new function of issuing ATM cards to customers through LiveBank - the first auto banking system in Việt Nam. Nguyễn Hưng, TPBank’s general director, said customers needed to click on the machine to connect with bank staff and provide their ID card or passport to scan on the machine as well as complete information registration. LiveBank will then automatically issue an ATM card to the customer after a review from the bank’s staff. The entire process is estimated to take a maximum of six minutes instead of several days or even a week when applying for an ATM card through a bank’s branch. Hưng said customers can also register for debit card at LiveBank and receive the same at its branches. “The update is a roadmap to … [Read more...] about First Vietnamese bank issues ATM card through LiveBank