0
0
Vietnamese police in Ho Chi Minh City have proposed prosecuting 21 individuals—two Nigerians and 19 Vietnamese nationals—on charges related to money laundering and illegal cross-border currency smuggling, according to a report from Vietnam News on August 4.
The investigation revealed that the group used sophisticated cyber tactics to defraud companies involved in international business contracts. They hacked into corporate email communications by creating fake email addresses nearly identical to legitimate partners—differing by only one character—to trick victims into transferring funds to fraudulent accounts.
How the Scam Worked
The suspects, operating primarily in Vietnam, set up shell companies with foreign-sounding names resembling the real business partners. These shell companies opened bank accounts in both foreign currencies and Vietnamese dong to receive the transferred money.
Once funds were deposited in foreign currency accounts, they were quickly converted into Vietnamese dong and moved to the shell companies’ accounts. From there, the money was dispersed into various personal accounts before being withdrawn and handed over to the fraudsters.
A Notable Case: Ukraine’s December One Rnd Ltd
One highlighted incident involved December One Rnd Ltd, a Ukrainian company conducting business with Sungsan Electronics & Communications. Fraudsters sent fake emails from addresses like [email protected] and [email protected] (instead of the legitimate [email protected]), instructing December One Rnd Ltd to transfer funds to new bank accounts.
On March 8, 2024, December One Rnd Ltd transferred $314,850 to the fraudulent account, unaware the real partner had not changed bank details. The Ukrainian Embassy in Vietnam eventually intervened, requesting the freezing of the account, but the money had already been withdrawn.
Key Figures and Operations
- Mai Tra My, married to a Nigerian and residing in Nigeria, allegedly directed Mai Vu Minh to establish multiple companies in Vietnam to receive and convert foreign transfers. Minh earned a 2% commission on all transactions, which totaled nearly $790,000 from December 2023 to March 2024. He also transferred about $381,000 in cash to Cambodia on My’s behalf.
- Le Thi Tham, formerly a factory worker in Ho Chi Minh City, reportedly married Nigerian national Okoye Christina Ikechukwu in 2020. In 2023, they joined the money laundering network, earning approximately $76,000 through 53 companies Tham registered.
- Nguyen Thi Thanh Thuy, a food delivery driver, was hired by a Nigerian woman named Selena to register companies and open bank accounts. From late 2022 to April 2024, Thuy registered over 100 companies and earned commissions on millions of dollars transferred through these accounts.
- Thuy later recruited Nguyen Thi Huong, who registered an additional 116 companies. Together, these companies received over $3 million and €2.9 million ($3.4 million) from foreign businesses.
Ongoing Investigation
Authorities continue to investigate the extensive network, which used sophisticated fraud and money laundering schemes involving hundreds of companies and millions of dollars. The suspects are currently under custody as the police proceed with the prosecution.
.
