Recently, the Cyber Security and High-Tech Crime Prevention Division of the Hanoi Police have received reports of fraud and asset appropriation scams involving fake stock trading applications.
Investigations reveal that scammers invite victims to join “stock investment learning” groups on Telegram and Zalo. They then instruct victims to download and install a fake app called “AJB DIRECT.” The app’s interface is designed to be appealing, simulating legitimate stock market indices such as VN-Index, VN30-Index, and HNX-Index, tricking users into believing it is a genuine investment platform.
Be cautious of fake stock trading apps
To gain trust, scammers pose as stock investment advisors, offering specific insights on “hot” stock codes and inviting victims to try out “buy” and “sell” orders. They also entice users to purchase internal stock codes (ESOP, IPO) of large enterprises, promising astronomical profits ranging from 300% to 777%.
In one case, a victim, Ms. H. from Hanoi, was lured into investing 4 billion VND in a stock code with a promised return of 777% (equivalent to 7.77 billion VND). However, when she noticed irregularities and attempted to withdraw her money, her account was deleted, she was removed from the chat group, and all contact was blocked.
Notably, all transactions were simulated using fake apps and websites set up by the scammers. Victims’ accounts displayed fictitious profits to instill trust and encourage further investments.
Hanoi Police advises:
+ Refrain from investing through unknown apps and websites.
+ Be wary of unusually high-profit guarantees.
+ Report any signs of fraud to the nearest police station for investigation and legal action.
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