Hanoi (VNS/VNA) - Identity theft is not a new crimein the financial and banking scene, but insiders said a new twist onan old problem that banks and clients should worry about, exposes theneed for heightened cybersecurity.

Truong Duc Luong, Chairman of the Vietnam Network Security JSC,revealed that dangerous actors could use SEO (search engine optimisation)to improve their websites' ranking in search results when people lookup information online.

The better visibility the websites have in search engines, themore likely that they garner more clicks and attract more prospectivevictims. Once visitors click on the websites, theyare vulnerable to malicious schemes resulting in financial loss andidentity theft.

Another tactic is using the online ads network to spreadmalicious links. Gullible users clicking on the links have their browsershijacked by fake warnings. They fall victim to various scams if they follow thelinks' instructions.

The chairman urged banks to use brand-listening tools to analysepublic opinion about their brands on social media, whereby they could trackdown malicious websites imitating their official ones.

Informative campaigns could also be launched to keep bank clientswell-informed about identity theft and increase their vigilance againstsuspicious websites.

Ngo Tuan Anh, Vice Chairman of the Vietnam Information SecurityAssociation, said that cyber-criminals normally transfer theirscammed money to various bank accounts and use it to buy cryptocurrenciesto hide the trail.

Once the money has been laundered into cryptocurrencies, thedamage is done, and it is difficult to recuperate the loss. Hence, scamvictims must report their cases to banks as quickly as possible toprevent further loss and maximise recovered money.

"We should develop a mechanism that allows instant reports tohelp scam victims get back their money as much as possible," hesaid.

Van Anh Tuan, senior manager of the Information SecurityAdministration at Techcombank, claimed that banks have been investing massivelyin cybersecurity to prevent impersonation and have had success.

In the past, fraudsters could easily impersonate someone and stealmoney from their bank accounts once they got their username, password and OTPcode.

It is no longer the case now, as bank clients will receivewarnings from security systems when fraudsters try to access their bankaccounts via an unknown device, adding another layer of security to bankingtransactions.

The manager gave some tips to help bank clients stay ahead ofscammers. Clients should search for unknown phone numbers on Google.If a phone number claims to be of a bank employee, ask for credentials. Agood Google search sometimes proves highly effective against impersonators.

Nguyen Thanh Dat, deputy director of the Vietnam CyberspaceSecurity Technology SJC, remarked that bank clients normally do not know whatto do and where to call for help when they fall prey to scams.

For that reason, he suggested an easy-to-memorise hotline numbervia which scam victims could report their cases to banks and seekassistance from bank staff more efficiently.

"Bank clients should be more cautious online. They shouldcall their banks' customer support centre any time they receive asuspicious request from someone claiming themselves as bankstaff," he added./.