According to the police, the ring was masterminded by two Chinese with Malaysian nationality. They hired hundreds of Vietnamese people in Cambodia and trained them to find victims and to lure them to invest in forex trading via the RosyStyle trading floor.

24 out of a total of 44 bank accounts were confirmed to have been used to receive victims’ money. The group has targeted people in Vietnam and swindled more than VND1.8 million since late 2021.

Once at the police station, the suspects admitted to committing the scams. An investigation into the case is currently underway.

Given the dangers of online fraud, the police recommended that people stay vigilant against advertisements of foreign-invested trading platforms with high interest rates and report any signs of misappropriation to relevant authorities.

On May 18, the police also advised against fraudulent stock investment apps which have taken advantage of the public’s increasing interest in the stock market. Many have fallen victim to those apps, losing hundreds of millions of Vietnamese Dong.

Source: VOV