The State Bank of Vietnam has warned people against making any online monetary deposits, as a certain fraudulent company has recently been seen taking commissions for online deposits.
According to the bank branch in the Mekong Delta province of Dong Thap, some organizations and individuals, working on behalf of the company, were seen mobilizing funds by persuading people to make online money deposits, for a commission incentive fee.
When one person deposits a sum of VND8 million then he or she convinces another to deposit the same amount, and then convinces yet another to make a similar deposit until the total number of deposits reach 14. After every 14th deposit, the initial depositor receives a US$1,000 commission payment.
Authorities believe that this chain method of mobilizing capital, free of interest charge, is currently being provided by a commercial joint stock company.
The company is only an internet company with no specific address or office. Should the company decide to liquidate without leaving any trace; people will be unable to recover their deposits.