From fake calls posing as police officers to deepfake videos mimicking family members, online scams in Vietnam are growing more sophisticated and costly. Victims report losing millions of dong through fraudulent banking websites, impersonation schemes, and social engineering tactics.
According to the National Cybersecurity Association, online fraud caused an estimated 18.9 trillion dong in losses nationwide in 2024. Experts warn that as criminals adopt AI-driven tools like deepfake technology, the best defenses remain vigilance, user education, and stronger cybersecurity standards for both individuals and businesses.
This article is a condensed and translated summary (original in Vietnamese, VN) of a feature published in the April 2025 issue of Bloomberg Businessweek Vietnam.
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