Consumer Social Intelligence Safety and Security Report 2024
Executive Summary
Vietnam (EN) | 01 Oct 2023 - 31 Mar 2024
EMERGING TRENDS in 2024
Reports from 2023 were analysed vis-à-vis the insights in the current report and new emerging themes that stood out have been summarized below:
New scam where scammers pose as bank employees for credit card fraud and phishing
Scammers impersonate bank staff to execute unauthorized transactions, exploiting detailed social engineering techniques to gain trust. For credit card fraud, they often promise fake credit card deals or debt repayment services. In phishing, they trick victims into revealing personal information or downloading malicious software.
Surge in digital wallet fraud incidents
Increased visibility of digital wallet scams was noted due to multiple new scams, such as the hacking of a cryptocurrency price-tracking website, which asked followers to invest in a fake cryptocurrency. Scammers employed sophisticated techniques such as instructing victims to link car booking apps to their digital wallets and then using the victim's ride-hailing app to make purchases by obtaining the OTP.
Increase in discussion and advice on loan fee scams
Fraudsters pose as legitimate loan providers, convincing victims to pay upfront fees for loans that are never delivered, prompting discussions on verifying legitimacy and reporting to authorities.
Calls for Enhanced Consumer Protection Measures
Recent court rulings have underscored the urgency for financial entities to enhance their fraud detection and response mechanisms, particularly in light of evolving malware threats. Customers are increasingly demanding proactive measures from financial entities to safeguard against new scam tactics, emphasizing the vital role of these institutions in promptly warning and protecting users from emerging security risks.
Executive Summary
This analysis utilises social media data to provide consumer insights on safety and security concerns regarding financial payments, along with key trends, needs and pain points.
18.3kmentions
about cards and non-card services related to digital payment safety and security.
10%increase
in bank card discussions about bank cards compared to the prior 6 months.
18%decrease
in discussions about non-card services compared to the prior 6 months.
8%surge
was observed in card-related phishing attempts, with consumers reporting a rise in unsolicited calls aimed at extracting their information or enticing them with card perks.
61%surge
in digital wallet-related OTP fraud, with consumers discussing a novel technique involving linking their digital wallets to a car booking app and inadvertently sharing their OTP with scammers.
