On December 18, at the headquarters of Ho Chi Minh City Police, the Ho Chi Minh City Police Department in collaboration with the Vietnam Blockchain Association organized a seminar on "Improving capacity to prevent financial crimes in cyberspace" with the participation of more than 200 delegates, representatives of management agencies, businesses, and social organizations.
Popularizing blockchain and AI to reduce high-tech fraud
In his opening speech, Colonel Le Quang Dao, Deputy Director of Ho Chi Minh City Police, emphasized that the seminar was organized to better identify the methods and tricks of criminals in the fields of finance and high technology, thereby clearly identifying the causes and trends of this type of crime, and providing recommendations and preventive measures for people and businesses. At the same time, it further clarified the necessity and urgency of issuing and amending a number of related policies and regulations to ensure a solid, strong and feasible legal basis to help prevent and repel crimes in the fields of finance and high technology. In particular, it is necessary to raise public awareness of online fraud, increase awareness of protecting people's personal data and build a network of connections between organizations in the process of investigating, verifying and handling cases.
At the seminar, representatives of units PA05, PC03 and PC02 under the Ho Chi Minh City Police shared about high-tech crime tricks in the fields of finance and banking; the work of preventing and combating high-tech crimes in the fields of finance and banking of the Ho Chi Minh City Police and the results of the work of preventing and combating crimes in the fields of finance and banking on cyberspace of the Ho Chi Minh City Police in the past time.
Lieutenant Colonel Le Minh Hai - Deputy Head of the Department of Cyber Security and High-Tech Crime Prevention and Control of Ho Chi Minh City Police shared: "In the work of preventing and combating high-tech crimes in the fields of finance and banking, it is necessary to have close coordination between specialized forces and financial and banking organizations in the process of investigating, verifying and handling cases. In particular, financial and banking organizations need to promptly coordinate, provide information and participate in preventing criminal acts".
Representatives of the above units also pointed out difficulties and obstacles and proposed specific solutions based on the practical situation and assessment of the current development trends of the technology sector.
Mr. Phan Duc Trung, Permanent Vice President of the Vietnam Blockchain Association, proposed that it is necessary to quickly popularize knowledge about blockchain and AI to all subjects to minimize fraud, especially for the vulnerable (the elderly, children, women, etc.). Training forms need to be flexible and diverse, including direct training, organizing seminars, forums, online training through MasterTeck (Vietnam's first Blockchain and AI MOOC platform according to the National Blockchain Strategy).
For the forces responsible for ensuring security and social order, which are the police agencies, it is necessary to strengthen internal training and improve professional knowledge to grasp and master advanced technologies, easily trace and prevent fraudulent acts. At the same time, coordinate with international units, organizations providing globally reputable data and blockchain-based tracing programs (on-chain) such as ChainTracer to optimize the effectiveness of investigation, identification and prevention of illegal transactions.
Sharing the same view, Colonel, Associate Professor, Dr. Nguyen Van Chanh, Head of the Department of Police Investigation of Crimes of Corruption, Economy , Smuggling, and Environment (People's Police University) said that ensuring everyone's safety in cyberspace is a major goal that the People's Police University in particular and the police force in general have been striving to achieve. The People's Police University is also making efforts to communicate, educate awareness, and raise vigilance for the community, especially students from high school to university.
Mr. Ngo Minh Hieu - Director of the Fraud Prevention Project said that the psychology of the victims is one of the major barriers that prevent many people from reporting to the authorities. For victims who are scammed of large sums of money, mostly love scams, they are often worried about the impact on their reputation and social relationships. Some others think that the amount is too small to report to the authorities or think that reporting will not solve the problem, so they choose to remain silent. According to Mr. Hieu, "Fighting against fraud in cyberspace is not difficult. People just need to slow down, verify information and report to the authorities to reduce the risk of fraud".
Tighten regulation of cryptocurrency exchanges to prevent money laundering and cross-border crimes
To minimize financial crimes in cyberspace, the panel spent most of its time discussing the management mechanism and actions of state agencies towards cryptocurrency exchanges, focusing on preventing money laundering, terrorist financing and other illegal acts.
According to Mr. Phan Duc Trung, data from Chainalysis shows that within 5 years, from 2019 to 2024, nearly 100 billion USD of illegal cryptocurrency was laundered through conversion services. In 2022 alone, this money laundering activity reached its highest level, reaching 31.5 billion USD, posing an urgent requirement for management agencies to strengthen supervision and management.
In Vietnam, many unknown entities such as CrossFi, Mineplex, BOM Network, etc. have continuously organized closed seminars, taking advantage of the images of influential figures to raise capital from the community. Many reports from users sent to ChainTracer said that they were scammed through sending and depositing money to unknown exchange and wallet platforms.
Besides, exchanges such as MEXC, BingX, Binance, Gate,... continuously promote, market, and communicate publicly and on a large scale, even though they are not licensed to operate in Vietnam, focusing on easily lured customer groups such as students and young people.
Regarding the management of cryptocurrency exchanges, Mr. Phan Duc Trung said that developed countries have taken many actions to prevent and handle exchanges that do not ensure anti-money laundering procedures, such as the case of Binance exchange being fined more than 4.3 billion USD in the US and the CEO of this exchange, Changpeng Zhao, being sentenced to 4 months in prison. In Vietnam, the authorities must not only prevent and handle but also take preventive actions to stop money laundering before it occurs instead of tracing and dealing with the often very serious consequences of these acts.
Source: https://baolangson.vn/quan-ly-chat-san-giao-dich-tien-ma-hoa-de-phong-chong-rua-tien-va-toi-pham-xuyen-bien-gioi-5032264.html
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