2024 cybersecurity report: online fraud losses reach over $742 mln

The 2024 Cybersecurity Summary Report recently released by the National Cybersecurity Association (NCA) reveals that estimated losses from online fraud in 2024 have reached VND18.9 trillion (over $742 million).

For every 220 smartphone users, one fell victim to fraud.

According to the report, the number of fraud victims able to recover their money is very small. Despite 88.98% of users stating they immediately warned and discussed the situation with family and friends after being caught in a fraud trap, only 45.69% reported it to authorities, a relatively low rate.

Experts from the NCA emphasized that reporting fraud to authorities is essential to protect victims' rights and prevent further illegal activities.

The methods used by fraudsters are diverse and sophisticated. The three most common forms in 2024 include: luring users into fake investment schemes promising high returns; impersonating organizations and agencies; and fraudulent notices of winning prizes or large promotions.

Survey results show that 70.72% of users received invitations to invest in financial platforms of unknown origin, promising no risk and high returns. Additionally, 62.08% encountered calls impersonating organizations or agencies (e.g., police, courts, tax authorities, banks) urging them to install software or threatening them to transfer money to prove their innocence due to alleged legal violations. Meanwhile, 60.01% reported receiving notices of winning prizes or large promotions with vague and unusual information.

Beyond these sophisticated schemes, fraudsters have also employed various modern technologies, such as Deepfake AI to create fake videos and voice recordings, automated tools (chatbots) to communicate continuously with victims, and specialized computer software to make phone calls reaching many people simultaneously.