Vietnam police crackdown on illegal bank account trading and scams

Police in Cần Thơ have summoned a man whose personal bank account recorded transactions exceeding 100 billion VND in 2025. He admitted leasing the account for a fee and authorities warned that renting, lending or selling bank accounts can carry administrative fines up to 500 million VND and criminal sentences of up to seven years, with possible account freezing and asset seizure.

Separate warnings issued by Hải Phòng and Tây Ninh police target fake savings schemes and the growing market for buying, selling or renting bank accounts. Hải Phòng urged the public to use only official bank branches or apps for deposits, while Tây Ninh highlighted penalties of 100‑200 million VND for illicit account transactions and the same maximum jail term.

In Hưng Yên, investigators prosecuted a group that collected, bought and sold 117 bank accounts belonging to high‑school students, charging them under Article 291 of the criminal code for illegal handling of banking information.

Authorities also issued an urgent alert about a new IoT‑speaker fraud that exploits unsecured Wi‑Fi or Bluetooth‑connected speakers in shops to broadcast fake payment confirmations. Vendors are advised to verify receipts on banking apps, secure device passwords, and separate payment‑network Wi‑Fi from customer networks.