Thanh Hoa police investigate 15,000 trillion VND POS fraud ring

Thanh Hoa Provincial Police have launched an investigation into a large-scale tax evasion ring involving the fraudulent use of Point of Sale (POS) terminals. Authorities have summoned 30 individuals residing in Thanh Hoa and Hanoi for questioning regarding their involvement in processing approximately 15,000 trillion VND in fictitious transactions.

The group allegedly exploited business household information to register bank accounts and obtain POS machines through intermediaries. They then advertised services on social media to facilitate credit card cash withdrawals and debt settlements, charging fees between 1.5% and 2% per transaction. While these transactions were recorded as legitimate purchases of goods and services, no actual commerce took place.

Police have seized nearly 400 POS machines, 10,000 credit cards, 95 mobile phones, and 20 computers as evidence. The investigation is currently focused on the massive scale of tax evasion resulting from these unauthorized financial services.