On February 22, the State Securities Commission (SSC) announced that it had received a report from KIS Securities regarding individuals and organizations impersonating KIS employees to establish the GEM Vietnam investment fund in order to deceive and misappropriate investors’ assets.
According to the report, certain individuals posing as KIS employees created groups and communities on social media platforms to engage in fraudulent activities. Specifically, the perpetrators established Zalo groups (A221; Securities Investment Analysis Exchange; YY03 Stock Market Trends) to entice, recruit, and defraud investors, ultimately seizing their assets.
KIS Securities reports to the SSC about identity theft (Illustrative image)
In an interview with reporters from Bao Cong Thuong (Trade and Industry Newspaper), Ms. Phan Tuyet Minh, the spokesperson for KIS Securities, stated that the act of impersonating KIS’s brand to deceive customers has been ongoing for some time.
Specifically, the perpetrators used KIS Securities’ images, logos, and brand to entice investors to deposit money into virtual platforms, subsequently misappropriating their assets. It was only when customers contacted KIS Securities after failing to retrieve their money that they realized they had been deceived. The number of individuals who lost money is significant, with some victims losing over 1 billion VND.
It is reported that the SSC has forwarded KIS Securities’ report to the relevant authorities for further investigation and coordination. The authorities have also issued a warning to investors to be cautious of the aforementioned groups.
