Vietnam Debt Trading Company Impersonators Commit Fraudulent “Capital Recovery” Scam

On April 26th, The Debts Trading Company of Vietnam Limited, under the Ministry of Finance, issued a warning regarding individuals impersonating their company for fraudulent purposes.

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Recently, Vietnam Debt Trading Corporation Limited Liability Company (DATC) has recorded cases in which a number of subjects have taken advantage of DATC’s information and images to carry out fraud in many different forms.

The subjects impersonate DATC employees to commit fraud

Accordingly, the fraudulent subjects impersonate DATC employees to contact individuals who are participating in personal financial investments such as corporate bonds, securities, and e-commerce platforms and who are in need of recovering capital.

These subjects use information related to DATC’s full name and acronym, registered office address, website address, official seal, and the signature of DATC’s legal representative to create fake images and send them to individuals seeking to recover capital.

In addition, the fraudulent subjects use DATC’s information to create different Facebook accounts such as Vietnam Debt Trading Co., Ltd. DATC, DATC Asset Management Consulting Co., Ltd., etc., and post videos in the form of warnings and instructions for individuals seeking to recover capital, promising to successfully recover capital and requiring these individuals to transfer a sum of money called a capital recovery fee in order to commit fraud and misappropriate.

DATC’s representative affirms that the company is a 100% state-owned enterprise, acting as a tool of the Government to handle bad debts in the economy, support the restructuring of commercial banks, and restore and develop businesses to continue contributing revenue to the state budget, contributing to solving jobs for workers and stabilizing social security.

“DATC does not recover personal financial investment capital through social media. We confirm that the information about DATC that the above subjects use is fake and for the purpose of fraud and misappropriation of money and property,” said DATC’s representative.

DATC has also sent official dispatches to relevant state agencies to report on the incident and request support in handling the incident.