Phillip Bank in Cambodia advises customers to be careful about financial fraud


Online banking scams in Cambodia
Online banking scams in Cambodia

Rising online and banking scams in Cambodia have prompted Phillip Bank to issue a notice. A warning to the public about these issues.

Online scams are on the rise as more and more people use the internet and social media.
By 2021, according to a study conducted by the Statista Research Department, more than 70 percent of Cambodians are active on social media.

Sok Kim Chhay, Head of Information at Phillip Bank, the only Singaporean commercial bank in Cambodia, said: “In recent months we have heard some cases in some banks.”

Bank fraud occurs when someone tries to take funds or other assets from a financial institution or its customers. By pretending to be a bank official.

Credit card dump is a type of crime in which criminals copy credit cards without permission.

There are many types of bank scams, most of which involve credit card and credit card fraud.

Scams usually target the middle class and people with little knowledge of technology.

“These people rarely use online banking and they have little knowledge of secret codes such as PINs and OTPs.” said Sok Kim Chhay.

He added that scams are commonly known as phishing scams.

Phishing is done by phone, text message or email.

“For example, victims will receive a phone call or text message informing them that they have won a prize,” he said. Draw prizes, the scammer will tell the victim that before they can receive the prize, they must provide them with an ID number and other confidential information. . “With that information, it is easy for scammers to take the victim’s bank account.”

He also mentioned that credit card information copying is another common occurrence today.

It occurs when a device known as a credit card information copier is inserted into an ATM card slot machine. M or Point of Sale System (POS). The device can read or copy all the information on the debit or credit card.

“Then scammers use the information to steal money from the victims’ bank accounts.”

Earlier this year, the Ministry of Posts and Telecommunications warned that scammers had used other means by which a person received an SMS or email containing Fake bank name.

When someone logs into their bank account and password, scammers use that information to steal money from the account.

In the past, the Ministry of Interior has issued instructions to warn the public about mobile phone scams targeting mobile phone users.


Cambodia Time

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