On 17/1, the Da Nang City Police's Department of Investigation for Corruption, Economic, Smuggling, and Environmental Crimes announced the successful conclusion of a specialized operation. This operation targeted the illegal trading of bank account information, which was found to be instrumental in facilitating cross-border fraud.

Transactions flowing through these associated accounts were estimated to be in the thousands of billions of Vietnamese dong.

35 individuals involved were arrested by police for investigation. Photo: Thanh Phuoc

Investigations revealed that this network systematically collected, purchased, rented, and lent bank accounts that were not registered under the actual user's name. These accounts were then provided to online fraud groups operating from Cambodia, serving as 'intermediary accounts' to receive funds from victims.

The fraud groups utilized hundreds of such 'virtual' accounts to receive money. They then transferred these funds through multiple layers of different accounts, conducting frequent transactions day and night. Crucially, no transfer content was recorded, a tactic designed to erase traces and complicate efforts to track the money trail.

Notably, even with banks implementing biometric authentication, the network employed electronic devices, software, and specific applications to bypass these systems. This allowed them to maintain illegal money transfers and withdrawals.

During the operation, authorities apprehended 35 individuals. The majority of those arrested reside in Da Nang, with others located in Dak Lak and Gia Lai provinces.

Seized evidence included hundreds of bank accounts, mobile phones, electronic devices used for authentication and money transfers, along with various related documents. Da Nang City Police are expanding their investigation to clarify the roles of all involved parties and assess responsibilities in the management and control of bank transactions.

Ngoc Truong