Transnational fraud and money laundering investigations in-V

Vietnamese authorities have taken actions against transnational criminal networks involved in fraud and money laundering.

In Hoanh Mo Commune, police apprehended Ngo Bao Duy, a suspect linked to an October 2025 fraud case. Duy admitted to working for a transnational fraud ring in Cambodia, where he facilitated illicit transactions by providing his personal bank account and performing facial recognition authentication for cash withdrawals.

In a separate operation, Phu Tho Provincial Police and the Ministry of Public Security dismantled a money laundering ring that targeted Japanese businesses. Foreign nationals posing as bank employees defrauded 15 Japanese citizens of approximately 707 million Yen. The ring used contacts in Vietnam to convert the stolen funds into cryptocurrency assets, including USDT and ETH, to move the money to digital wallets abroad. Seven individuals have been prosecuted for money laundering and illegal cross-border currency transfers.

Authorities have recently issued further warnings regarding the sale of bank accounts to facilitate illegal activities. In Can Tho, police identified an instance where a single bank account sold for 1 million VND was used to facilitate transactions exceeding 100 billion VND in 2025. Cybersecurity experts noted that such accounts are used by criminals to mask identities and complicate the tracking of money laundering and online gambling.

Additionally, police in Dong Nai warned of livestream scams, specifically involving fraudulent pearl-opening broadcasts. In Hung Yen province, police charged Pham Thi Mien and Pham Hung Duy with money laundering and gambling. The pair reportedly traveled to Cambodia to work for a gambling syndicate near the Moc Bai border, using their personal identities to open numerous bank accounts and providing login credentials and OTP codes to criminal groups to facilitate large-scale transfers.