Over 600 Visa, MasterCard cardholders scammed

The suspects in a credit card fraud scheme led by Đào Thị Kiều Oanh. — Photo courtesy of the police

HCM CITY — A 35-year-old woman and her accomplices have been accused of impersonating bank employees to defraud 614 Visa and MasterCard cardholders, resulting in the embezzlement of over VNĐ1.8 billion (US$72,000).

The HCM City Police on Tuesday (October 16) arrested Đào Thị Kiều Oanh and 14 other individuals for "using electronic means to commit theft."

This operation is part of a broader investigation into a criminal network led by Oanh and another woman, Lê Thị Kim Hoa, 31, along other individuals.

From October to December 2022, the group deceived cardholders into withdrawing more than VNĐ7.2 billion, and thus misappropriating over VNĐ1.8 billion from them.

They claimed to offer a policy allowing customers to convert 75 per cent of their credit limit into cash at low interest rates.

After gaining card information, they conducted fraudulent transactions through electronic payment gateways, transferring money into accounts they controlled, according to the police.

The police raided three offices on December 28, 2022, detaining Oanh, Hoa, and over 80 others, seizing various equipment including computers, phones, and vehicles.

The investigation is ongoing. — VNS