Lieutenant General To An Xo. Photo: Ministry of Public Security.

Popular tricks

On May 4, Lieutenant General To An Xo, spokesman for the Ministry of Public Security, had information and recommendations for people and investors.

According to Lieutenant General To An Xo, the tricks the subjects often used were: taking advantage of psychological factors about profits, ignorance of the people and some investors, subjects claiming to be employees of famous securities companies make calls and invite people to join group chats and online courses on stock investment.

When the victim agreed to participate, the subject continued to introduce highly profitable investment opportunities, allowing people to buy stock codes on the Vietnamese stock exchange at prices that are lower than the current trading price on the market.

To receive the above incentives, the subject instructs victims to access website links or install apps on mobile devices provided by them.

When the victim registers an account on websites and mobile apps, the victim continues to attract participants to online investment groups according to each potential stock code on the stock market.

Here, the victims are explained that legitimate, well-known financial investment funds were affiliated with their securities companies, so they received high support and incentives; Or the enterprise issues individual shares or shares to employees and invites the victim to buy back the employee's shares at a price that is much lower than the market price, etc.

In order to create trust, the subjects provided the victims with legal documents of the investment fund such as: Certificate of establishment of the investment fund issued by the State Securities Commission, business license, certificate of banks.

The bank account receiving the money also bears the name of the company account, the investment fund with promises of high interest rates, losses will be compensated and the purchase price of stock codes through investment funds will have incentives from 15%-30% compared to current trading price.

This information is easy to look up and find matching information on the internet and the victim immediately trusts the legal documents provided by the subject.

There have been many victims who believed in the subject's promises to deposit money into the application and continuously made profits, even many times more profits in the first few trading sessions.

In addition, investors can also see many profitable accounts of other investors (virtual nicks created by them). This is a trick of setting up virtual transactions to create trust, seduce, and entice victims to deposit more money into their investment accounts.

Entice and force the victim to transfer more money

When the victim wants to withdraw money, the application reports an error or the fund's matching limit is not enough. At this time, the subject will constantly seduce, entice, and force the victim to transfer more money to their account for reasons such as: submitting the wrong content so the system has not recorded it, paying taxes and fees to be able to withdraw money, etc.

Many victims, because they have transferred large amounts of money to their accounts, are easily psychologically manipulated and have to transfer more money or else they will lose the amount they have paid.

When they see that the victim is no longer able to transfer money, the perpetrators will disable the victim's account or make it impossible for the victim's account to log in to appropriate the amount of money the victim transferred to the app.

When the victims discovered that they had been scammed, subjetcs deleted the victim's account from social networking groups and blocked contact with the them.

According to Lieutenant General To An Xo, the current verification and tracing work faces many difficulties because most chat groups have addresses outside the borders of Vietnamese territory.

Faced with the above tricks, the Police force advises people and investors to absolutely not listen and follow the lure of financial investment in cyberspace that will bring high profits, especially if you do not have knowledge about stocks.

Absolutely do not participate in group chats, do not invest in websites and apps without carefully finding out information about the host unit.

It is necessary to find information from many sources, especially official information sources such as: Website of the State Securities Commission; Electronic information pages about finance, banking, etc.

If there is an investment need, people can choose stock trading platforms licensed by the State to operate, etc.

In case of suspecting a subject of fraudulent appropriation of property, people and investors should immediately report to the nearest police agency for timely support and handling, etc.