Stay aware against online securities investment scams: SSC
While impersonating securities firms and businesses for fraudulent activities is not a new issue, these scammers are evolving with more sophisticated tricks.
The State Securities Commission of Việt Nam (SSC) has warned the public to exercise caution when receiving invitations to join online stock investment forums or groups, or when downloading, installing and using trading applications (apps).
Lately, there has been a concerning trend where certain individuals falsely pose as representatives of securities or fund management companies, the authority said. They contact individuals, urging them to invest in stocks through social media forums like Facebook, Zalo or by utilising trading apps.
These impostors present stock investment opportunities and encourage participation in online forums for investment advice or trading support.
Consequently, the SSC advises heightened attention when receiving unsolicited calls, urging caution and careful consideration to avoid being enticed into online platforms or applications for stock investment purposes.
The SSC said investors should arm themselves with knowledge about stocks and market trends and stay in the loop through trustworthy sources like regulatory bodies, market operators, and licensed securities firms that offer sound advice when entering the stock market.
The SSC added that if individuals suspect anyone posing as a securities firm or fund manager, spreading false information or engaging in shady dealings, don't hesitate to report them to the authorities for proper legal handling.
In a recent update on August 20, SSI Securities Corporation (SSI) sounded the alarm on some seriously slick scammers. It seems these con artists have taken to social media, with Zalo accounts pretending to be top managers at SSI, using fancy Deepfake AI tech to stream investment advice.
They even set up a profile under the name Nguyễn Duy Hưng, Chairman of the Board at SSI on Zalo, dishing out tips and tricks. From Zalo, they slyly shifted users over to a private Telegram group. Here, they got crafty with AI, whipping up fake images and videos of Chairman Nguyễn Duy Hưng to keep the investment advice flowing and lure unsuspecting investors into their web.
On May 9, VNDirect Securities Corporation also notified investors about a sneaky scam involving criminals trying to pass off as VNDirect to swindle and snatch clients' assets.
Towards the end of 2023, the SSC was alerted by KIS Vietnam Securities Corporation (KIS) about a concerning trend. Certain individuals and groups were posing as KIS employees to carry out scams and unlawfully seize investors' assets through a range of websites, apps, and fan pages.
Several other prominent securities companies such as AIS Securitues JSC, VIX Securitues, Yuanta Vietnam, MB Securities JSC and Hồ Chí Minh City Securities Corporation have also stepped up to caution investors.
While impersonating securities firms and businesses for fraudulent activities is not a new issue, these scammers are evolving with more sophisticated tricks.
They now use various methods, from creating fake trading apps to deceiving people on social platforms like Facebook and Zalo, employing advanced technology to execute their deceitful schemes. — VNS
