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News

Association of Banks in Cambodia warns about online loan service fraud on Facebook

Monday 10 June 2024 15:17 CET | News

The Association of Banks in Cambodia has noted that a number of fraudulent websites have been misrepresented as legitimate banking or financial institutions. 

 

As per the official announcement, these websites have been enticing people in Cambodia to use online lending services through their Facebook pages. The association’s anti-fraud team states that the scammers created a fake Facebook page using the name of a bank. 


Moreover, the scammers also impersonated a bank employee by copying a photo of the employee to contact the victim to provide a loan. The scammer instructed the victims to enter their phone numbers and passwords and persuaded the victims to send them money through KHQR. 

The Association of Banks in Cambodia has noted that a number of fraudulent websites have been misrepresented as legitimate banking or financial institutions.

The Association of Banks in Cambodia issued a notice on June 7, 2024 warning the public to be careful not to transfer money to pay for any services through KHQR scans or provide personal information to scammers. 

Furthermore, the Association has made it clear that legal and official banking and financial institutions do not have a policy of asking their customers to provide bank passwords or any personal information. 

Recent update from Cambodia 

In November 2023, the National Bank of Cambodia signed an MoU with Ant International to offer inbound and outbound cross-border mobile payments in the region. This was set to promote efficient and secure cross-border mobile payments via QR code through KHQR, between Bakong’s network and Alipay+’s payment collaborators and global traders.  

Users and clients of Alipay+’s payment partners will be enabled to simply leverage their home ewallets in order to pay at any KHQR merchants across Cambodia if they are connected to a Khmer Riel bank account. This will offer them improved convenience and security, while also optimising the manner in which local businesses develop in the tourism industry.

Source: Link


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Keywords: fraud management, online security, identity theft, fraud prevention, scam
Categories: Fraud & Financial Crime
Companies:
Countries: Cambodia
This article is part of category

Fraud & Financial Crime

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