Greed gets the better of Chinese credit card scamsters in Vietnam

• Cyber fraud unearths potential loophole at Vietnamese bank's security system
• Vietnam warns firms of email hacking, bank fraud risks
• Vietnam police swoop on Chinese gang suspected of multiple fraud

Police in Vietnam’s northern city of Hai Phong have arrested two Chinese men who allegedly used fake credit cards to buy gold and watches, news site Nguoi Lao Dong reported on Thursday.

Chen Jin Sheng, 26, and Liu Jun Peng, 31, both from China's Fujian Province, were found to have 25 fake Mastercard credit cards and two Point of Sale (POS) devices.

On August 27, they illegally entered Vietnam into the border province of Quang Ninh before heading to Hai Phong where they successfully used a fake card to buy gold worth VND597 million ($26,362) from a gold shop, according to the police.

They also used another card to purchase a watch worth VND20 million ($883) on the same street.

Chen and Liu received the cardholders' information from a hacker in China. On their second attempt on September 13, they were seized while using a fake card at the same gold shop in Hai Phong.

Related news:

> Cyber fraud unearths potential loophole at Vietnamese bank's security system

> Vietnam warns firms of email hacking, bank fraud risks

> Vietnam police swoop on Chinese gang suspected of multiple fraud