Vietnam PoliceVietnam Police Probe Fake Stock Trading Scam in Ho Chi Minh CityProbe Fake Stock Trading Scam in Ho Chi Minh City

Police in Ho Chi Minh City are investigating a suspected fake stock trading operation that used lookalike websites and WhatsApp to recruit investors. According to preliminary findings, the group allegedly collected money through bank account QR codes and then altered the profits shown on the platform to encourage further deposits. 

1. Lookalike URLs Made Fake Platforms Seem Familiar

Police say the suspected operators mimicked established stock trading platforms and chose similar web addresses to make the fake sites look legitimate. The police account did not identify the legitimate platforms copied or publish the suspected domains.

2. WhatsApp Messages Solicited Investments

According to investigators, people working for the group were given contact lists and scripts to approach potential investors on WhatsApp. The group used the messages to persuade recipients to invest through the lookalike platforms.

3. Bank QR Codes Directed the Transfers

Once someone agreed to invest, the group allegedly sent a QR code linked to a bank account arranged by its managers. Recipients were instructed to use the QR code to transfer money directly to the designated account. The police account did not name the receiving banks or disclose where the funds went afterward.

4. Fake Profits Encouraged Further Deposits

Investigators say the managers manipulated the profit figures displayed on the platform to persuade investors to send more money. Police have yet to disclose how many people transferred funds or how much they lost. 

What Police Found in Tan My Ward

During a surprise inspection of a residence on November 4, officers found 14 foreign nationals whose temporary stays had not been registered. Police seized 29 desktop computers, five laptops and 112 mobile phones, and found documents and scripts suspected of being used in online fraud. The city’s immigration division is coordinating with investigators. The public accounts reviewed did not report any fraud charges. Thanh Nien’s account of the inspection.

Investor Warning

Before transferring money, verify the platform’s exact web address and payment instructions through the provider’s official channels. If you suspect fraud after making a payment, preserve the messages, QR code and transfer receipt, and report the incident. Vietnam Ministry of Public Security reporting guidance.