The State Securities Commission has received a report from KIS Securities Company regarding individuals impersonating KIS employees to create groups on Zalo in order to deceive and defraud investors. The Zalo groups are named: (A221). Investment analysis and YY03 stock market trend.
The Commission has forwarded KIS Securities’ report to the relevant authorities for coordination in handling and to warn investors when accessing the mentioned social media address.
The management authorities, securities companies, and fund management have repeatedly warned about fraud, impersonation, and investment solicitation.
This is not the first time that management authorities, securities companies, and fund management have warned about this form of fraud. Previously, the State Securities Commission issued a document requesting securities companies to enhance the management of securities practitioners, prohibiting them from participating in forums and groups on the internet (except for forums and groups agreed upon and approved by the securities company) to provide financial investment advice, or solicit investors to buy or sell securities on behalf of the securities company.
When participating in forums and groups approved by the securities company, securities practitioners must comply with their responsibilities as securities practitioners, not engage in prohibited behaviors, behaviors that are restricted, or behaviors that are not permitted by law.
In addition, the management authorities require securities companies to strengthen the work of ensuring information security and safety; monitor and grasp information about unauthorized links leading to counterfeit securities companies’ websites, websites, social media, forums, and groups on the internet that illegally use the images and brands of securities companies.
Furthermore, fraudsters even impersonate the Securities Commission, the Vietnam Securities Depository and Clearing Corporation (VSDC), Ho Chi Minh City Stock Exchange (HoSE), Hanoi Stock Exchange (HNX), and others to deceive and solicit investments.
HoSE warns about the appearance of some service providers in financial investment/securities using HoSE’s logo and abbreviations, inviting investors to join groups on social networking sites. HNX also reveals that it has received reports from many investors about being deceived by impostors claiming to be HNX, calling for participation in signing cooperation contracts for highly profitable investment packages.
The State Securities Commission has also announced a decision to impose an administrative fine of 85 million VND on KIM Vietnam Fund Management Limited Liability Company for violating regulations. The company was fined for conducting asset transactions for clients through a securities company that exceeded the limit on the transaction value ratio in a year.
Specifically, during the fiscal year from January 1, 2022, to December 31, 2022, the transaction ratio of KIM Growth VN30 ETF Fund through KIS Vietnam Securities on the total transaction value of the fund was 74.46%.
