In the context of increasing online fraud, money laundering and transnational crimes, the illegal buying and selling of bank accounts is becoming a serious problem. Not only does it cause property damage to people, this behavior is also a bridge for a series of dangerous illegal acts.
Buying and selling everywhere
Ninh Binh Provincial Police have just dismantled a group of 8 people who tricked students across the country into opening bank accounts and then reselling them to them. These accounts were then used for fraudulent activities. The people used all kinds of tricks to lure gullible people, creating an underground criminal network that infiltrated from social networks to e-wallets.
Not only in Ninh Binh, in early 2025, the police of Thach Thanh district, Thanh Hoa province also prosecuted a case related to similar behavior, arresting 4 subjects for the crime of "Illegal collection and trading of information about bank accounts". In less than 2 years, this group illegally traded thousands of bank accounts across the country.
The immediate consequence is the story of Mr. HVQ in Dong Thap . Thinking that he was just "earning" a few million dong by selling bank accounts online, Mr. Q. did not expect that he had inadvertently assisted a ring in organizing illegal immigration. As a result, not only was he fined more than 127 million dong, but he also caused his wife and father-in-law to "suffer" because he lent information to open an account and then sold it. "At first, I just thought it was a way to make money quickly, not anticipating the consequences. It was not until the police invited me to work that I realized my account was being used for illegal activities" - Mr. Q. shared regretfully.
In fact, just typing the keyword "buy and sell bank accounts" on social networks, a series of groups appear with tens of thousands of members. Without needing to hide, the subjects openly advertise to buy accounts, rent accounts, and even sell devices with pre-installed bank applications. Posing as an account seller, the reporter approached an account named TL and was quoted 350,000 VND for each VIB bank account. Before the transaction, TL asked to download a strange application to identify via CCCD. This person also affirmed "just log in, verify CCCD and that's it, then I will transfer money. Everything is simple but you must download the app".
Groups for buying and selling accounts are rampant on social networks. (Screenshot)
Another account, HTN, is more "skilled" when providing the service of selling corporate bank accounts, the price ranges from 3 to 4 million VND/account, depending on the limit. To avoid detection, buyers can choose an account package with a phone that has a pre-installed bank app, the total cost can be up to 8 million VND.
According to cybersecurity experts, the buying and selling of bank accounts is not new but is becoming increasingly sophisticated. "Accounts that are bought and sold publicly are often "under the name of a person", meaning that users use real documents to open them, then resell them to criminals for bad purposes, such as fraud and money laundering," an expert warned. He also emphasized the risk of personal information theft if gullible users download applications of unknown origin. Therefore, people should absolutely not lend, rent or sell bank accounts in any form.
Punish more severely
According to Mr. Tran Cong Ky Lan, Deputy General Director of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), the situation of account purchasing is happening widely, targeting students, workers and people in remote areas. The purchase price ranges from several hundred thousand to several million VND/personal account, while a business account can cost up to 30 million VND. The worrying thing is that the subjects do not just stop at buying login information, but also request personal photos and videos to bypass the biometric authentication system when transacting online. "Banks face many difficulties in detecting accounts being bought and sold due to sophisticated tricks. However, when detecting unusual transactions, the bank will ask the account owner to update information. If they do not comply, the account will be temporarily locked for online transactions" - Mr. Lan shared.
Similarly, Mr. Tu Tien Phat, General Director of Asia Commercial Joint Stock Bank (ACB), also admitted that there were some customers who had opened accounts and then transferred them to third parties without foreseeing the consequences. To control this, banks are tightening the account opening process, requiring 100% biometric authentication and closely monitoring unusual transactions. Mr. Phat said that ACB has deployed an early warning system, sending signals to customers if there are suspicious signs. Thanks to that, the bank has promptly prevented many fraud cases.
Ms. Nguyen Phuong Huyen, Director of Personal Banking at Saigon Thuong Tin Commercial Bank (Sacombank), informed that the bank currently has more than 9 million active personal customer accounts. The online transaction rate at Sacombank is 96%, of which more than 91.8% of online transaction accounts have biometric authentication.
There are many reasons why customers open bank accounts but do not make transactions, such as the elderly having difficulty using online banking services and not being familiar with technology, so they do not make online transactions but only make transactions directly at the counter.
Currently, Sacombank is actively guiding and simplifying online banking transactions, communicating the benefits and security of transactions using bank accounts to encourage customers to be more enthusiastic about the cashless economy. Thereby, promoting an increase in the rate of biometric authentication. "The State Bank's regulations requiring banks to delete accounts that do not perform biometrics help minimize risks related to fraud and illegal activities, ensure safety and security for the banking system, and improve efficiency in account management. Deleting inactive accounts also helps banks optimize resources. This is a necessary step to build a more transparent and secure banking system," said Ms. Huyen.
Meanwhile, a representative of VietinBank emphasized that the act of selling bank accounts must be strictly handled. "This is an act of assisting in fraud, money laundering and transnational crime. It is necessary to impose heavy penalties and even consider criminal prosecution as a deterrent," Mr. Lan emphasized.
According to the State Bank, of the more than 200 million personal accounts opened at credit institutions, only about 113 million accounts have been biometrically authenticated. The remaining more than 86 million accounts, many of which are "junk" accounts that cannot be legalized, are expected to be disabled from September 2025 if not authenticated.
Mr. Pham Anh Tuan, Director of the Payment Department - State Bank, said that this agency will add regulations allowing banks to delete ineligible accounts. This will not only help the banking industry become more transparent and secure but also completely prevent the use of accounts for illegal activities. This is considered an important step to create a healthy financial environment, protect consumers and stabilize the national banking system.
Online shopping scam line
On June 9, Thanh Hoa Provincial Police detained 13 people involved in a property fraud ring operating in Cambodia, led by Trinh Ngoc Linh (born in 1990) and Ta Thu Ha (born in 1992, Thanh Hoa City) with the support of a Chinese person. From July 2024, Ha and Linh went to Bavet City (Svay Rieng) near Moc Bai border gate (Tay Ninh), rented a house to install 20 computers and network equipment to organize fraud through the form of "buying orders" on Tiki. This ring has appropriated billions of dong from dozens of victims across the country.
Source: https://nld.com.vn/nhuc-nhoi-tai-khoan-rac-196250609222333294.htm
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