BIC paid VND 20 million in compensation to a customer who was defrauded by a scammer impersonating a Finance Department official
On September 23, 2026, in Ho Chi Minh City, BIDV Insurance Corporation (BIC) and the Vietnam Investment and Development Joint Stock Commercial Bank – West Saigon Branch (BIDV West Saigon) met with customer Q.K.T. and presented him with VND 20 million in insurance benefits under the “Account Security” cybersecurity insurance policy.
The customer received the maximum insurance benefit
On August 28, 2026, Mr. Q.K.T. received a phone call from a scammer who claimed to be an official from the Ho Chi Minh City Department of Finance, citing the need to urgently assist a business in completing its business license application to meet the September 2 holiday deadline.
After adding him on Zalo, the scammer claimed that the date on the customer’s national ID card was incorrect and instructed him to visit the fake website congthuedientu***.com to correct it. On this website, the scammer asked the customer to enter personal information. After completing the process, the scammer instructed Mr. Q.K.T. to use a banking app to scan a QR code and transfer funds. Taking advantage of the fact that the customer was busy with family matters, the scammer gained access to his account and withdrew VND 45 million. As soon as he discovered what had happened, Mr. Q.K.T. immediately reported the incident to the police and contacted his bank to request that the account be locked immediately.
Fortunately, Mr. Q.K.T. had previously enrolled in the “Account Security” cyber security insurance program through the BIDV SmartBanking app. As soon as it received the customer’s notification, BIC promptly coordinated, provided guidance, and paid the customer compensation in the amount of VND 20,000,000—the maximum payout under the “Account Security” insurance plan.
Low premium, great benefits
The “Bao An Tai Khoan” cyber security insurance product is currently available on the BIDV SmartBanking digital banking app. When making a money transfer via the app, customers can choose to enroll in the insurance plan with the first month free. Starting from the second month, the monthly premium is VND 5,000, with coverage of up to VND 125 million per year.
Specifically, customers are protected against the risk of digital transaction fraud with a maximum payout of VND 70 million per year (up to VND 20 million per incident). Additionally, Account Protection provides insurance benefits related to accidental disability with coverage up to VND 55 million per year.
BIC has also streamlined the claims process as much as possible, helping customers quickly recover from losses in the event of an accident. Customers can also easily cancel their coverage directly through the app when they no longer need it.
The growth of digital services has also led to increasingly sophisticated forms of fraud. In addition to securing protection through the Account Security Insurance policy, customers should remain vigilant against online scams (carefully check the domain name and website information before making a transaction; do not provide passwords, OTP codes, or other sensitive information to any individual or organization through unofficial channels…) to proactively ensure the maximum security of their own assets online.
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