An online scam targeting remittance needs between South Korea and Vietnam has been uncovered by Vietnamese authorities. The suspects are accused of luring victims from the Vietnamese community in South Korea with promises of high exchange rates and quick transfers, only to take their money. The confirmed losses have exceeded 800 million dong (approximately 45 million won), highlighting the vulnerability of Vietnamese nationals living abroad, including students and workers.
On July 16, local time, the Ha Tinh Provincial Police charged two men in their twenties, identified as A and B, with fraud involving property misappropriation. The police had previously arrested the pair on July 4 for allegedly using a remittance service from South Korea to Vietnam in a fraudulent manner.
The investigation began after numerous advertisements for remittance and currency exchange services were found online between Vietnam and South Korea. Authorities discovered accounts on Facebook promoting favorable exchange rates, simple procedures, and quick processing times for money transfers.
A is believed to have utilized his experience working in South Korea to facilitate the scam. Investigators found that he was aware of the remittance demand and transaction methods between the two countries and planned the fraudulent scheme around late 2025, citing a need for living expenses.
The scam was executed through fake Facebook accounts. A created multiple false profiles and joined online groups of Vietnamese individuals residing, studying, or working in South Korea, advertising advantageous exchange rates and secure remittance options. He instructed victims to send money to designated bank accounts. After receiving the funds, he failed to fulfill the promised remittance or exchange, often delaying and eventually cutting off contact.
B reportedly joined the scheme earlier this year. Authorities believe he assisted in locating or providing Korean bank accounts and was involved in the movement of the stolen funds.
The two suspects are believed to have continued their fraudulent activities while residing together in the Vinhomes New Center apartment in Ha Tinh Province in early April. Authorities stated that they organized their online remittance scam while living in the same space. Victims have been identified from various regions across the country, with Vietnamese students and workers in South Korea being the primary targets. The confirmed amount of losses has surpassed 800 million dong. Investigators suspect that the pair has committed multiple offenses and are working to identify additional related cases and victims.
To evade law enforcement, the suspects reportedly deleted traces of their activities. Authorities explained that they erased conversation records and transaction evidence from various messaging applications, including Messenger, Zalo, and Telegram, after committing the fraud. The police are conducting cyber investigations, tracking the flow of funds, and securing electronic evidence to clarify the structure of the scam. They have identified the accounts that received the stolen funds and traced the subsequent movement of money to determine the roles of the two suspects.
Currently, authorities are compiling evidence and documentation to formally charge the suspects and are conducting further investigations into related cases while tracking the stolen assets. They plan to gather additional evidence for legal proceedings.
Meanwhile, authorities have urged Vietnamese citizens living abroad or studying and working overseas to exercise caution with online remittance and currency exchange transactions. They emphasized the importance of using banks, credit institutions, and licensed companies, advising against trusting high exchange rates and quick processing promises from unknown social media accounts. This incident has been confirmed as an online financial scam targeting the expatriate community, which has a high demand for remittance services. Authorities reiterated the need to use official financial channels to avoid potential losses.
* This article has been translated by AI.
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