“Carrot and donkey ”

In 2024, public opinion was surprised by the huge amount of assets and gold in the transnational fraud ring of TikToker Mr Pips Pho Duc Nam and his accomplices. Thousands of victims "fell into the trap" through 21 international stock exchanges just because they believed in the glossy, rich images of Nam.

Most recently, nearly 400 individuals and about 100 businesses were surprised to discover that they had been scammed when buying energy coins from Ho Quoc Than, CEO and founder of Trieu Nu Cuoi Company. This subject fabricated information about the "heritage money source of 48 countries" and "Uncle Ho's gold treasury" in order to sell "QFS" coins at prices ranging from 3.4 million to 5.2 million/coin, causing nearly 30 billion VND of hundreds of victims to "evaporate".

According to the authorities, the main method used by the subjects in the online fraud ring is “carrot and donkey”. Initially, investors will be invited to participate in low-value transaction packages, easy to withdraw money and make profit. After that, these transaction packages will be gradually upgraded. At a certain threshold, the account will be “burned”. When investors lose money, even run out of money, the subjects continue to create promising scenarios for them to deposit more money in the hope of recovering. When investors no longer have financial capacity, all communication channels will be blocked.

Financial education for students is extremely important in the context of increasingly strong development of digital financial services and investments.

In addition to investment fraud, cybercriminals also use many tricks to steal users' money through many other methods. The latest report on the information security situation in Vietnam conducted by Viettel Cyber ​​Security (VCS) shows an alarming increase in cyber attacks in 2024. According to the report, more than 14.5 million accounts in Vietnam were leaked on cyberspace, accounting for 12% of the total number of leaked accounts globally. DDoS attacks reached more than 924 thousand, an increase of 34% compared to 2024, reaching a scale of more than 1 Tbps, causing serious disruptions to financial systems, technology and important services.

In addition, in 2024, there was also an explosion in the sale of user information, system data and many sensitive data of large enterprises in Vietnam. Specifically, there were 134 data leaks with about 294 million customer data records and 184.3 GB of data.

Entering 2025, the cybersecurity situation is forecast to continue to evolve with the emergence of many new threats. Experts believe that cybercriminals will increasingly use artificial intelligence (AI) to carry out more sophisticated attacks, especially through the creation of fake content such as voice and video (deepfake) to scam or even infiltrate systems. Notably, according to experts, the finance and banking industry is still the leading group in terms of fraud and counterfeit attacks, when directly related to people's wallets.

Good financial education will help towards the goal of “leaving no one behind in accessing financial services”

Equip “armor” for every citizen

To avoid falling into the trap of fraud in cyberspace in the coming time, Lieutenant Colonel Nguyen Thang Long, Deputy Chief of Staff of Ho Chi Minh City Police Department, said that people need to be more vigilant, regularly monitor and update propaganda information from official websites about the methods and tricks of fraudsters; pay attention to protecting personal information and data while participating in activities on the internet environment. In addition, do not share personal information, ID card photos, health insurance, vehicle registration or other documents containing personal information of yourself and others on social networks.

In fact, despite the continuous warnings from the authorities, many people still fall into the trap of fraud. One of the fundamental and long-term solutions is to equip each citizen with financial knowledge. This is also one of the five major goals set out in the national comprehensive financial strategy to 2025, with a vision to 2030. In addition, the task of financial education communication is also mentioned in Government projects such as: Project to improve access to banking services for the economy, Project to develop non-cash payments in Vietnam in the period 2021 - 2025, Project to promote payments via banks for public services: taxes, electricity, water, tuition, hospital fees and payment of social security programs, etc.

Good financial education will help achieve the goal of “leaving no one behind in accessing financial services”, raise public awareness of banking products and services, limit risks for consumers using financial products and services, and push back black credit…

In addition, e-commerce is developing strongly. According to statistics by November 2024 of the State Bank, the value of e-commerce transactions increased by 34.54%; via the Internet channel increased by 33%, via mobile phone channel increased by 34.34%; transactions via QR Code increased by 84.77% compared to the same period in November 2023. Therefore, financial education becomes even more important as people are gradually shifting transactions to the digital environment.

Lesson 2: Financial education and "4 difficult" and "4 easy"

Source: https://thoibaonganhang.vn/bai-1-hieu-dung-de-lam-dung-161511.html