The Vietnam Competition Commission announced the penalties for unfair competition on 23/9.

Sai Gon Jewelry Company (SJC), Doji Gold & Gems Group, and Bao Tin Minh Chau were each fined 200 million VND.

These companies were cited for providing misleading product information to attract customers from competitors. They must also publicly correct the misleading information on their websites.

The commission stated that the companies cooperated during the investigation. They also took steps to mitigate the impact of their violations.

In May, these companies were also fined between 1.3 and 2.6 billion VND by the State Bank of Vietnam for various violations, including tax issues, accounting discrepancies, and anti-money laundering compliance issues related to gold pricing. Doji and Bao Tin Minh Chau also violated regulations regarding e-commerce and the use of digital technology in gold trading.

Phuong Dung