Stock market scams are becoming increasingly sophisticated: Creating fake apps to steal real money.

The Vietnamese stock market is rife with high-tech scams: creating fake investment apps with professional interfaces, impersonating expert consultants, and more.

Many investors are scammed when accessing fake applications - Photo: AI

Many investors fall into the trap of illusory "super profits."

Creating a fake app, promising a 777% return.

Ms. H. (residing in Hanoi) reported being tricked into investing 4 billion VND in stocks with a promised return of up to 777% through the aforementioned AJB DIRECT application. Initially, her account showed consistent profits, but when she tried to withdraw money, she was unable to do so, was removed from the group, and blocked from contacting the platform. Only then did she realize she had been scammed.

A platform called "AJB DIRECT" has just been exposed by the Hanoi City police. This application displays all the indices such as VN-Index, HNX-Index, VN30-Index... in a way that looks completely real.

The scam typically begins with invitations to join "stock investment learning groups" on Zalo and Telegram. There, individuals impersonating investment consultants constantly recommend stocks and guide people through trial trading. The app displays fictitious profits daily, leading many victims to deposit real money.

The deputy general director of a securities company in Hanoi said that all transactions on these fake platforms are pre-programmed, have no connection to the real stock market, but display price fluctuations that look real, making it easy for many investors to fall into the trap.

In fact, faced with the widespread wave of fraud, many securities companies have proactively invested in technology and tightened control procedures.

Mr. Nguyen Khac Hai (Director of Legal and Compliance Control at SSI Securities) stated that the company has procedures and mechanisms in place to review, detect, and handle cases of brand counterfeiting.

Specifically, some departments are tasked with reviewing, early detection, and compiling cases of forgery, while other departments provide legal support, handle violations, and act as the liaison with the police.

Ms. Pham Thi Thanh Hoa (General Director of DNSE Securities) stated that the company has deployed tools and software to scan and detect unusual information, fake websites, and applications. Simultaneously, they are coordinating with various parties and partners, and utilizing social listening tools to review information.

"In addition, the brand control, customer service, and PR-marketing departments are all responsible for reviewing, detecting, and handling cases of fake or fraudulent websites," Ms. Hoa said.

However, the CEO of DNSE stated that fake websites and apps, and scammers, are now operating with sophistication and constantly changing their methods, making them increasingly difficult to detect.

The secret to identifying stock market scams.

Mr. Nguyen Khac Hai affirmed that securities companies licensed by the Securities Commission are not allowed to guarantee interest rates to customers, except in the case of investments in fixed-income securities such as bonds.

"A profit margin of up to 700% is extremely high and can only be achieved with very long-term investments, measured in years. If a promise of quick returns of hundreds of percent is made, it is highly likely a scam," Mr. Hai said.

Compared to mainstream investment funds, Mr. Hai said that if the fund's return is higher than the overall market increase, it's already a "win". For example, if the VN-Index increases by more than 12% over the year, then a performance above that level is already considered successful.

Therefore, Mr. Hai recommends that commitments offering interest rates many times higher than savings interest rates or the average increase in the stock market should be carefully considered. Investors should remember that high interest rates (if real) always come with high risks.

Beware of impersonators of stock market "heroes".

Besides creating fake apps, there are also cases of impersonating leaders of securities companies and reputable figures in the securities industry to commit fraud.

Mr. Truong Hien Phuong (Senior Director of SSI Securities) warned against being wary of deepfake technology, which is being exploited to create calls and livestreams featuring images of famous people.

"In many cases, the images of business leaders appearing in public are entirely products of artificial intelligence," Mr. Phuong said.

To avoid falling into tech traps, investors should proactively verify information instead of passively accepting it. This can be done by ending the call, requesting a reconnection, or asking unexpected, personal questions—actions outside of the pre-programmed script. If the other end of the line is artificial intelligence or simulated content, it will not be able to respond smoothly and coherently.

Beware of scams when receiving invitations to chat groups.

Recently, many people have received calls from individuals claiming to be from SSI Securities or other brands, inviting them to join "stock market expert" groups on Telegram and Zalo, and then luring them into transferring money to personal accounts.

An SSI representative affirmed: "We do not invite customers to social media groups and do not request money transfers to personal accounts. All official calls are made through the identified 'SSI' phone number and provide guidance on trading on official platforms."

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BINH KHANH

Source: https://tuoitre.vn/lua-dao-chung-khoan-ngay-cang-tinh-vi-dung-app-gia-lay-tien-that-20250609074457175.htm