In recent days, the case of Ms. PNPT, the owner of a rice enterprise in Tien Giang , accusing her of being robbed of more than 434 billion VND when she "invested in fake international securities" has caused a stir in public opinion. Notably, this enterprise owner is not an isolated case, as recently there have been many cases of securities and forex investment fraud recorded across the country.
"Chicken herding" groups are rampant
Reflecting to a reporter from Nguoi Lao Dong Newspaper, Mr. PVT (Quang Nam) said he lost nearly 700 million VND when investing in an unclear foreign exchange trading floor. According to the story, he initially met a woman named Tran Kim Yen through Zalo. This person used a polite avatar and introduced herself as investing in crude oil on the Bent floor, through an application called Cool Network, operated by Cool Network Technology Company Limited, with bank accounts at ACB and UOB, so he trusted her.
As someone with experience in stock investment, Mr. T. wanted to try his hand at a new channel, so he followed the instructions, downloaded the app, registered an account and participated in livestreams with "experts" advising on how to invest profitably. Initially, he deposited a few tens of millions of VND and quickly saw the profit double, so he continued to invest more, bringing the total amount to nearly 700 million VND.
The account on the app then showed a balance of more than 1.8 billion VND, but Mr. T. could not log out. The woman contacted him and asked him to pay an additional 250 million VND in "commission" before he could withdraw the previous profit. Suspecting signs of fraud, he suggested going directly to the company to give cash and withdraw the money.
Mr. T. bought a flight ticket to Ho Chi Minh City and went to Pearl Plaza building (Binh Thanh district) as instructed but did not meet anyone as scheduled. Asking the building security, he learned that there was no company named Cool Network here, and many people had come here and left disappointed. "Because I trusted the clear bank account and professional website, I fell into the scam trap. I hope my story is a warning to those who are looking for investment opportunities online" - Mr. T. shared.
In fact, the situation of impersonating securities companies inviting investors to join investment groups and clubs, thereby enticing them to play forex, international securities, virtual currency, etc. is not rare. Ms. Khanh Thy (residing in Thu Duc City, Ho Chi Minh City) said that almost every day, she receives calls claiming to be employees of securities companies, inviting them to open accounts and providing investment advice for high profits.
Not only calling, on social networks such as Facebook, Zalo, Ms. Thy is also often invited to join forex, foreign exchange or gold investment groups with promises of high profits. "The indicator tool destroys the forex floor - the key to help you master the market. The name of the investment group on Zalo that I have not agreed to, because agreeing requires providing a phone number for confirmation. This group advertises clear buying/selling points; identifies important support/resistance of stocks; is confident in orders without depending on anyone and especially easily multiplies the account 2-10 times in just 1 month" - Ms. Thy said.
Screenshots of information, websites and investment groups that Mr. PVT participated in and lost money. Photo: SON NHUNG
On social networks such as Facebook, Zalo, and Telegram in the past, financial investment groups have also increasingly "blossomed" with attractive greetings such as "5%-10% profit per day", "safe investment - high profit", accompanied by transfer images and thanks from "successful investors" to create trust.
Many groups use "trial play", meaning that new players are allowed to use demo accounts or deposit a small amount to try. Some groups even impersonate international financial institutions, using large bank logos or reputable securities company names to increase credibility.
In a Zalo group of nearly 400 members, the "decoy" account continuously boasts of earning hundreds of millions or thousands of USD after just a few days of investment. The Phung Thi Hoa account promotes the ET app with the slogan: "Play for fun but get real money", promising no fees, no risks, and inviting: "If anyone is having difficulties, please contact me".
However, when someone accuses them of fraud, these accounts often refute that they "have not tried it yet so they are negative" and ask the suspect to "try it out". But according to people who have participated, the promised bonus is not paid, and in the end, they are tricked into depositing more money to unlock the account or verify the transaction before losing everything.
Things to know
Speaking to reporters, financial expert Phan Dung Khanh affirmed that investment invitations with promises of profits three times higher than bank interest rates "all smell of fraud". Therefore, investors need to be extremely vigilant.
Regarding the case of a female business owner who accused of being scammed of more than VND434 billion when investing in an international stock exchange, Mr. Khanh said that this is a fairly common scam nowadays. The name "Cooperative Stock Exchange" that the female business owner mentioned sounds like an international cryptocurrency exchange, but it is very likely a fake to appropriate assets.
"If the subject claims to be a bank employee, investors only need to call the bank directly to verify - this simple operation can significantly reduce the risk of being scammed. In addition, it is necessary to clearly understand the function of the investment service company: operating domestically or internationally, whether it is legally licensed in Vietnam or not. It is necessary to check the authenticity of the operating license, avoiding the case where the license is one thing, but the service is another" - Mr. Khanh advised.
According to Mr. Phan Duc Nhat, Chairman of Coin.Help & BHO.Network - an expert in the field of digital assets, in an era where "investment" has become a trendy keyword, many people, due to lack of knowledge and vigilance, have become victims of sophisticatedly staged scams.
The case of an elderly woman who was robbed of more than VND434 billion for investing in international stocks of unknown origin is a typical example and a wake-up call. Mr. Nhat said that scammers often target the elderly, who have financial means but are not familiar with technology. They give small "bait" to create a sense of victory, then lure the victim to deposit more money in a "small but steady" manner, forming a habit and reducing vigilance. When the victim is suspicious, they prolong the time or use "technical" tricks and then disappear.
Factors that make victims vulnerable to fraud include: the illusion of "high returns, no risk", belief in "semi-orthodox" investment in the context of economic instability, lack of digital information verification skills, and especially the "sunk cost" effect - the mentality of not wanting to give up after investing a large amount.
"Today's scammers are not only good at technology, but also understand human psychology. They play on greed, ignorance and personal emotions" - Mr. Nhat warned and advised investors to absolutely not believe in promises of high profits without risk, only use applications with clear origins, legal transparency and absolutely not transfer money to strange personal accounts. Verifying the identity of the consultant and consulting relatives before spending money is very important. According to him, investing is a matter of reason, not emotion and only a timely alertness can help protect the entire fortune from unnecessary tragedies.
Meanwhile, the State Bank affirmed that it has not licensed any forex floors to operate in Vietnam, and payment transactions and money transfers abroad related to forex are not allowed under current foreign exchange management regulations.
Illegal forex trading activities mainly take place in cyberspace, requiring close coordination from authorities to detect and handle. The State Bank has provided the relevant legal framework to the Ministry of Public Security and investigative agencies, and requested the Ministry of Information and Communications to take measures to control online forex trading floors.
Securities companies do not call to solicit
Responding to reporters from the Lao Dong Newspaper, a representative of MBS Securities Company confirmed that recently, there have been cases of individuals impersonating MBS officers and employees calling investors, inviting them to join groups on Facebook, Zalo... with the purpose of collecting personal information and committing fraud and appropriating assets. MBS recommends that investors be vigilant against impersonating calls, especially requests to deposit or transfer money to a designated account. At the same time, absolutely do not provide personal information to strangers over the phone.
Mr. Nguyen Khac Hai, Director of Legal and Compliance Control at SSI Securities Company, said that the company has also received many reports of calls impersonating SSI employees, soliciting investment or inviting them to join online consulting groups. SSI has issued many warnings to customers and reported the incident to the police for handling. "Calls from SSI all use officially registered phone numbers, never inviting customers to join social networking groups or requesting money transfers to personal accounts. All such actions are fake" - Mr. Hai emphasized.
Source: https://nld.com.vn/loi-moi-goi-dau-tu-sac-mui-lua-dao-196250617215616883.htm
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