Title: Thimphu Police Investigate Two Instances of Banking Fraud Involving Bhutanese Citizens Abroad

Overview

Two separate cases of banking fraud involving Bhutanese nationals residing outside of Bhutan have been brought under investigation by the Thimphu Police. In each incident, the victims fell prey to currency exchange scams, resulting in substantial losses.

Case 1: Bhutanese Man in Australia

A Bhutanese man, living in Australia, became the victim of a phishing scam wherein a scammer posing as a Bhutanese national with Australian dollars for sale lured him into a currency exchange. The parties agreed on a transaction, and the Bhutanese man wired Nu 116,000 (116,000 Ngultrum) into the scammer’s account. However, he never received the Australian dollars. The case was reported to the Thimphu Police in March.

Case 2: Bhutanese Student in Thailand

A Bhutanese student studying in Thailand attempted to exchange Ngultrum for US dollars via a social media platform. The student was approached by an individual pretending to be a Bhutanese student with US dollars, who convinced him to deposit Nu 72,000 (72,000 Ngultrum) into their account. The student never received the US dollars, and the case was reported to the police in February.

Conduct of Investigation

The Thimphu Police suspect that foreign scammers gained access to the social media accounts of both victims and obtained their banking details through phishing, which they later sent to other Bhutanese individuals seeking foreign currencies. Neither of the individuals implicated in these cases was aware of the incidents.

In both cases, the received funds went to a Bhutanese man, who deals in cryptocurrency, living in Thailand. He claimed to be unaware of the criminal activities but received threatening messages from the hackers once he failed to transfer cryptocurrencies to them. The cases remain under investigation.

Prevalence of Financial Frauds in Bhutan

Financial frauds have escalated in Bhutan, with Thimphu Police recording over 45 cases since 2023, resulting in losses of almost nine million Ngultrum.

Policing Advice

To protect citizens from falling prey to such money scams, the police urge Bhutanese citizens traveling or residing abroad to take the following precautions:

1. Be cautious when exchanging currency.
2. Secure their banking apps to prevent unauthorized access.
3. Remain vigilant and verify the authenticity of online interactions.

The most common type of fraud reported to the police in Bhutan involves hacking bank accounts using One-Time Passwords (OTPs). Therefore, it is essential to keep OTPs private and not share them with anyone.