News & Events
The Financial Awareness Program: "Understand to Avoid Being Deceived"
The State Bank of Vietnam (SBV), MUFG Bank Ltd., the Vietnam Bank for Social Policies (VBSP) and SHBFinance successfully organized the financial education program "Understand to Avoid Being Deceived" in Toan Son Commune, Da Bac District (Hoa Binh Province). This meaningful initiative was held to equip local people with essential financial knowledge.
Overview
The year 2024 was considered a year with a sharp increase in online fraud in Vietnam, causing severe consequences for hundreds of thousands of users, with estimated losses amounting to approximately VND 18.9 trillion. This alarming figure was reported by the National Cybersecurity Association.
Vietnam ranks third in Southeast Asia in terms of online financial fraud cases. According to a report by Kaspersky, 1 in every 220 smartphone users falls victim to scams.
The National Cybersecurity Association also warned that such fraudulent activities are expected to continue escalating in 2025. In reality, the number of victims remains high, but the percentage of those able to recover their money is extremely low. It is essential to equip citizens with knowledge to prevent and counter increasingly sophisticated and diverse scams.
Recognizing these dangers, VBSP has actively implemented financial education programs over recent years. These initiatives target VBSP customers, especially the poor and policy beneficiaries in rural, mountainous and remote areas. The programs aim to provide knowledge on financial literacy and digital finance, as well as practical tips to safeguard individuals and families when using social media and the Internet.
Experts addressed questions related to financial management and strategies for avoiding scams
The "Understand to Avoid Being Deceived" program held in Hoa Binh aimed to equip local people with practical and relevant financial knowledge. Key topics included identifying and avoiding predatory lending traps and recognizing scam tactics. The information was delivered in an easy-to-understand and engaging manner, incorporating real-life experiences and shared stories from the participants themselves. Additionally, attendees were educated on effective loan uses.
During the program, experts addressed participants' concerns and provided clear answers related to financial management and scam prevention.
The organizers distributed Tet gifts to households in Toan Son Commune
At the program, Mr. To Huy Vu - Director of the International Cooperation Department of SBV shared that, in recent times, the SBV has actively collaborated with both domestic and international organizations to implement communication, financial education activities and raised public financial awareness through various programs and projects targeting different groups. One of these initiatives is the collaboration between the SBV and the Foreign Banks Working Group, along with VBSP, through organizing Corporate Social Responsibility (CSR) programs to enhance financial literacy in remote areas. In fact, there have been many cases of online financial scams in various forms, not only in major urban areas but also in rural areas. These include financial investments based on pyramid schemes, fake international exchange platforms, Telesales scams through Zalo, Telegram, fraudulent transactions on Shopee, illegal lending (black credit), SMS scams, impersonating law enforcement officials, online fraud via social networks and e-commerce transactions. Therefore, it is crucial to raise awareness for citizens about how to avoid such sophisticated scams, especially people in rural, remote and mountainous areas.
Mr. To Huy Vu emphasized that, the program aimed to share practical knowledge with the people of Toan Son Commune, Da Bac District (Hoa Binh), introducing important information about black credit and scam tactics to help them understand and avoid being deceived.
The community event in Hoa Binh is one of the efforts in the journey to contribute to the restoration of livelihoods and the sustainable development of the local community.
At the program, the organizers also presented Lunar New Year gifts to 100 poor households to help them have a joyful new year.
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- The Financial Awareness Program: "Understand to Avoid Being Deceived"
- VBSP successfully implements Digital Education Program - Go Digital ASEAN for the vulnerable groups in Vietnam
- New opportunities for individuals completing their prison sentences
- Bringing a Warm Spring to the Poor
- Annual Report 2023
- The VBSP’s Board of Directors (BOD) held its regular meeting for the fourth quarter of 2024
- Annual Report 2022
- VBSP implements tasks for the year 2025
- The effectiveness of the job creation lending program
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