Carding 4 Carders
Professional
Teenagers have become a tool in Vietnam's developing fraud schemes.
Over the past 5 years, Vietnam's cybercrime industry has experienced a real explosion of activity, and as a recent study shows, it only takes hackers an hour to create malware that can access almost all the functions of a smartphone.
According to the country's Information Security Authority (AIS), Vietnam experienced a 64% increase in online fraud in the first half of this year compared to the same period in 2022. At the same time, more than half of the incidents are related to malware. A wave of fraud has put Vietnam in the top ten global "hot spots" of cybercrime according to the Global Tech Council.
From January to August, more than 1,400 fraud victims were registered in Singapore, with a total loss of at least S $ 20.6 million (approximately US $ 15 million).
Criminals associated with malware scams most often acted as money mules — people who knowingly or without their knowledge help fraudsters legalize illegally obtained money. This case describes a situation where criminal groups attract people to conduct financial transactions on their behalf. This usually happens as follows:
Additionally, when it comes to law enforcement, money mules can be accused of engaging in criminal activities even if they were not fully aware of the nature of the job they agreed to. Teenagers were arrested on suspicion of involvement in fraud.
Creating malware has become so commonplace that hackers can use publicly available tools to build their app automatically. It's also easy to find resources for hacking and fraud on Telegram, where developers share tips and tricks.
Attackers without technical experience can use Telegram to subscribe to Malware-as-a-Service (MaaS) or phishing-as-a-Service (PaaS) for $300-$500 per month.
Vietnam has recently established a department focusing on combating cybercrime. The Department conducts campaigns to monitor malicious activity, and regularly makes recommendations to the Government and civil society organizations on how to raise public awareness of cybersecurity.
Over the past 5 years, Vietnam's cybercrime industry has experienced a real explosion of activity, and as a recent study shows, it only takes hackers an hour to create malware that can access almost all the functions of a smartphone.
According to the country's Information Security Authority (AIS), Vietnam experienced a 64% increase in online fraud in the first half of this year compared to the same period in 2022. At the same time, more than half of the incidents are related to malware. A wave of fraud has put Vietnam in the top ten global "hot spots" of cybercrime according to the Global Tech Council.
From January to August, more than 1,400 fraud victims were registered in Singapore, with a total loss of at least S $ 20.6 million (approximately US $ 15 million).
Criminals associated with malware scams most often acted as money mules — people who knowingly or without their knowledge help fraudsters legalize illegally obtained money. This case describes a situation where criminal groups attract people to conduct financial transactions on their behalf. This usually happens as follows:
- Scammers post job offers in instant messengers, such as Telegram, that appear legitimate, but are actually associated with criminal activity.
- People who respond to these offers provide fraudsters with access to their bank accounts or the sale of Singpass credentials. Singpass is a valuable digital identity card in Singapore that enables various government and commercial transactions to be made online.
- After gaining access to accounts or Singpass, fraudsters transfer money obtained illegally to these accounts, for example, through malware that steals financial information.
- The scammers can then ask the mule to transfer this money to other accounts, often abroad, or withdraw cash and send it through money transfer systems, thereby "laundering" the money.
Additionally, when it comes to law enforcement, money mules can be accused of engaging in criminal activities even if they were not fully aware of the nature of the job they agreed to. Teenagers were arrested on suspicion of involvement in fraud.
Creating malware has become so commonplace that hackers can use publicly available tools to build their app automatically. It's also easy to find resources for hacking and fraud on Telegram, where developers share tips and tricks.
Attackers without technical experience can use Telegram to subscribe to Malware-as-a-Service (MaaS) or phishing-as-a-Service (PaaS) for $300-$500 per month.
Vietnam has recently established a department focusing on combating cybercrime. The Department conducts campaigns to monitor malicious activity, and regularly makes recommendations to the Government and civil society organizations on how to raise public awareness of cybersecurity.
