On the morning of 13/8, Quang Ninh Provincial Police announced they dismantled an inter-provincial crime ring in coordination with the Cybersecurity and High-Tech Crime Prevention Department (Ministry of Public Security).
The special investigation began with eight reports from citizens, detailing appropriated funds totaling over VND 160 million. So far, 18 individuals have been prosecuted in connection with the case.
Initial investigation results determined that the suspects appropriated over VND 110 billion from thousands of victims nationwide. They also conducted 763 transactions showing signs of money laundering, with a total value exceeding 1,24 million USDT.
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The fraud group arrested by police. *Photo: Quoc Xa*
According to Colonel Hoang Van Dinh, Head of the Cybersecurity Department of Quang Ninh Provincial Police, personal data was leaked from companies, stores, and clinics, then sold on anonymous Telegram groups. The perpetrators used this data, which included victims' professions, addresses, loan histories, and consumption habits, to create tailored fraud schemes for each individual.
One victim recounted that needing money for business, they found a TikTok account named after a bank, which had a verification badge. Trusting this, they made contact. Subsequently, the victim was asked to transfer multiple amounts for purported transaction fees and income verification fees. The entire process was professional, closely mimicking actual bank loan procedures.
Unlike traditional fraud groups, this particular ring clearly separated the fraud and money laundering stages. Once funds reached an intermediary account, suspects transferred the money to a specialized group for a commission. This group then fragmented the money across various e-wallets and gaming portals, and purchased USDT cryptocurrency on exchanges. The USDT was then sold for cash and returned to the masterminds to erase all traces of the illicit transactions.
Police stated that the case reveals a dangerous trend: personal data is becoming a key "input material" for many types of cybercrime. With just a phone number, professional information, or details about needs for loans, education, or investment, perpetrators can compile complete profiles of victims. This enables them to develop increasingly sophisticated fraud schemes.
Police advise people to secure their personal data and never transfer money without clearly verifying the identity of the recipient.
Le Tan
