Billions of Vietnamese dong have been withdrawn by fake ATM and credit cards. — Photo vnexpress.net

HA NOI (Biz Hub) — The police in HCM City have detained a Bulgarian man after he reportedly used a fake ATM card to withdraw money in the city.

According to online VietnamNet.vn, Stoyanoy Yuliyan Georgiev was caught using the fake ATM card by the Asia Commercial Bank's security guards in District 1 on March 9. He was then detained by the police.

Bulgarian Stoyanoy Yuliyan Georgiev. — Photo seatimes.com.vn

The police confiscated 55 credit cards, 240 other cards and a suitcase filled with Vietnamese dong after they searched Georgiev and his room at Legend Hotel in District 1. Georgiev, who entered Viet Nam in early March, declared that he had received the fake ATM cards from another Bulgarian named Ivan Ivanov who also guided him about withdrawing money in Viet Nam.

He said Ivanov had promised to give him 10 per cent of the total amount of money withdrawn in the country.

The case is being investigated further.

Three Malaysians get prison terms

In another case of fake credit cards, the HCM City's People's Court on March 13 sentenced three Malaysian men to prison terms ranging between 12 and 14 years.

The three accused -- Jackson Tan Pei Loong, Teh Chee Wan and Tye Soon Hin -- were convicted for using digital equipment to appropriate assets.

The three men reportedly visited a shop at the Crescent Mall in the District 7 on March 8, 2012, to buy 20 Samsung Galaxy Note smart phones for VND192 million (US$9,142). They paid by using credit cards.

Hin successfully paid VND64 million ($3,000) by using two cards, but failed to pay the remainder with the other cards. The shopkeeper started doubting the validity of the cards and called the police.

The three men reportedly used 42 fake credit cards to buy goods worth VND1.18 billion ($56,190) between February 12, 2012 and March 8, 2012. — VNS