Vietnamese authorities have successfully dismantled a complex money laundering operation that had been active for several years, involving billions of Vietnamese dong. On October 10, the Phu Tho Provincial Police reported that their Cybersecurity and Criminal Investigation Departments, in collaboration with the Ministry of Public Security, had uncovered this sophisticated scheme.

The investigation revealed that a group of individuals, some of whom were foreign nationals, impersonated bank employees and conducted fraudulent calls targeting businesses in Japan to gain control of their bank accounts. Notably, on March 10, 2025, 15 Japanese citizens fell victim to this scam, transferring a total of approximately 707 million Japanese yen (equivalent to 117 billion VND) into three bank accounts managed by the fraudsters.

Once the illicit funds were acquired, the perpetrators quickly attempted to erase their traces and launder the money out of Japan through various channels in Vietnam. The group converted the money into cryptocurrencies such as USDT and ETH before transferring it back to foreign criminals, profiting by 1-2% on each transaction.

As part of the operation, the police have charged three individuals: Vu Tung Linh (born 1993, residing in Phu Tho), Le Duc Hung (born 1994, residing in Thanh Hoa), and Nguyen Van Nam (born 1998, residing in Phu Tho) with money laundering. Additionally, four other suspects have been prevented from leaving the country due to their involvement in illegal cross-border money transfers.

During a series of urgent searches, law enforcement seized six smartphones, a tablet, a Mercedes-Benz car, savings books worth 6 billion VND, five land use rights certificates, and various pieces of gold and silver.

This case highlights the growing complexity and international nature of cybercrime, particularly as the criminals utilized multiple intermediary accounts and cryptocurrency transactions to obscure their identities. The Phu Tho Provincial Police emphasized that this operation was particularly challenging due to the sophisticated methods employed by the criminals.

Authorities have urged the public to remain vigilant and refrain from engaging in illegal currency exchange activities or lending their bank accounts to others. They also called on Vietnamese citizens living in Japan to comply with local laws to protect their rights and the reputation of the Vietnamese community abroad.

The investigation will continue, with law enforcement committed to thoroughly addressing the case and ensuring that all involved parties are held accountable.