JDB Bank in Eye of Storm Over Scammers Impersonating Bank Officials

JDB Bank in the Eye of the Storm Over Scammers Impersonating Bank Officials
FILE: this image is used only for representational purpose (photo: freepik)

JDB Bank is in the spotlight as an increasing number of Lao residents reported attempts by scammers posing as bank officials on Facebook. 

Amidst the increasing reports of scam attempts circulating on social media, the citizens have become increasingly vigilant. One such incident involved a Facebook user named Say Sayasan, who recently shared his interaction with a scammer pretending to be from JDB Bank. 

The impostor offered him a significant loan in exchange for an upfront deposit. 

The scammer, posing as a JDB Bank representative, initiated the conversation with Say Sayasan, stating, “Hello, we are working under the JDB Bank. Currently, the bank is now initiating online lending with low-interest rates. You can borrow up to LAK 5 million to LAK 150 million through simple procedures. Please let us know how much you would like to lend from us so we can help you with the registration.”

Say decided to engage further as part of an experiment and even sent a counterfeit ID card, which convinced the scammer. 

Subsequently, the cheater sent Say a QR code for the initial deposit, revealing an account name registered under the Agricultural Promotion Bank, despite presenting themselves as the JDB Bank.

While Say remained unscathed, he told the Laotian Times, “I didn’t get scammed yet. However, I’ve seen a lot of advertisements from these scammers on social media not only disguised as the JDB bank but also the Lao Development Bank, too.”

Say did not proceed with the transaction, but many of his fellow residents have fallen victims and lost up to LAK 100 million (about USD 4821) in the scams. It is evident that the situation highlights the need for caution as these scams continue to target unsuspecting individuals on social media platforms.

In an effort to shed light on the situation, The Laotian Times reached out to the JDB Bank for comment. A bank representative indicated that the bank is not currently in a position to disclose information regarding the matter. However, the bank has assured the public that they are aware of the issue and are actively working to address it.

This situation draws great similarities to the rise of scammers impersonating official departments in Thailand last year, when scammers impersonated official departments such as the Department of Lands and Customs and trick their victims into installing fake apps via deceptive links, thus enabling remote control and money theft. The Thailand Bankers Association (TBA) and the Thailand Banking Sector Computer Emergency Response Team (TB-CERT) released guidelines to prevent such scams. 

Lao citizens are advised to be highly cautious when receiving proposals for online loans and are encouraged to report any suspicious behavior to the authorities. The situation has once again raised concerns over bank security measures on digital platforms and stresses the need for greater public awareness to protect against fraud.