Police in the central Vietnamese province of Quang Binh have cracked a fraud ring that took control of users’ mobile phones to steal the equivalent of U.S. $1.6 million. The group accessed information on customers who took out bank loans. They used it to gain access to the users' smart phone SIM cards, recover internet banking passwords and hijack accounts.
An estimated 40 accounts were hacked and VND40 billion stolen.
The Department of Cyber Security and High-Tech Crime Prevention (PA05), operating under the Quang Binh Police Department, launched an investigation after a victim complained on Nov. 18, according to state-controlled media.
The agency is investigating one member of the fraud ring for "using computers, telecommunications networks, and electronic means to appropriate property."
Another is accused of “illegally infiltrating another person's computer network, telecommunications network or electronic means” of communication.
PA05 has investigated suspected bank fraud in with many localities including Ho Chi Minh City, Tien Giang, Tay Ninh, Ben Tre and Thanh Hoa.
This content originally appeared on Radio Free Asia and was authored by By RFA Vietnamese.