HA NOI (VNS) — Ha Noi People's Court yesterday sentenced three people for using advanced technology to steal money online.
Bui Dinh Hao, 24, a Business and Technology University student, was sentenced to 11 years in prison, while Vu Phong, 34, a resident in Hai Ba Trung District, and Nguyen Van Dung, 38, from Thanh Xuan District, were imprisoned for 8 and a half years and 7 and a half years, respectively, for using the Internet and a telecommunications network to commit their criminal activities.
According to the investigation agency, Hao and his accomplices stole a total of VND1.1 trillion (US$50,000).
Hao, an IT student, found a flaw in PayPal's online payment system for upgrading an economy account to a business account, where American users could make payments via a credit card issued by an American bank.
Meanwhile, Phong was Chairman of the Board of MPT Commercial and Online Service Joint Stock Company, which offered virtual VISA and prepaid credit cards for confirming online services. Hao and Phong worked together to withdraw money or make payments using the stolen credit card information. Hao received 70 per cent of the withdrawn money, while Phong received 30 per cent.
Hao purchased the private information of American citizens at a price of US$20-25 per 1,000 people (including name, age, address and phone number).
He then created PayPal accounts using credit cards without a security code and expired American Express credit cards. As a result of the flaw in PayPal's payment system, Hao was able to upgrade these accounts from economy to VIP, which permitted cash advances.
Hao used the bank codes provided by Phong to transfer money to his private account and withdraw it.
Dung, director of a tourism company, helped Phong book fake tours to withdraw large sums of money. Phong received 90 per cent of this stolen money, while Dung received the rest. — VNS