Cyber hacking diverts money to hacker's account

The Department of Trade and Industry Region 10 is warning entrepreneurs of the ongoing and increasing cases of cyber hacking especially on the import and export transactions of Filipino importers and Chinese suppliers.

Linda O. Boniao, officer-in-charge of Department of Trade and Industry Region 10 said that these cases of cyber hacking usually divert Filipino importers’ payments to the hacker’s bank account.

Further, she said, the Embassy’s economic team in Beijing has already met with the officials of China’s Ministry of Public Security (MPS) Criminal Investigation Department (ICD) particularly their cyber crime investigation officers to discuss on these reported cases. So far, there have been six cases reported to the Philippine Embassy in China by Filipino victims, Boniao revealed.

According to the report, there are three variations of these instances. One involves a Filipino importer and a Chinese supplier with the former’s final transaction payment diverted to the hacker’s account in China. The second involves a Filipino importer and a Chinese supplier, with the former’s payment diverted to the hacker’s account outside China. And the third type involves a Filipino importer and a non-Chinese supplier, with the former’s payment ending up in the hacker’s bank account in China.

Through investigation, Chinese officials have been able to trace the perpetrators to Africans, specifically, Nigerians, said Boniao.

Chinese findings are further confirmed by the National Bureau of Investigation here, she added. In a similar set-up between Filipino importer and Chinese supplier, they were able to trace the deceptive email directing the Filipino importer to deposit the payment in the hacker’s account, to Nigeria.

Boniao explained that MPS authorities can easily freeze bank accounts in China, if they are subject to criminal complaint. However, this is not easy in other countries as it will require court order. She added that Chinese officials cannot assist if hacker’s bank account is outside China for lack of jurisdiction.

In the end, Boniao said that the most effective means of preventing cyber hacking menace is for entrepreneurs to be vigilant about the occurrence of such crime. (JMOR-PIA10)

source: PIA