Vietnam’s State Securities Commission has warned investors about fraudsters impersonating securities firms and regulators to steal information and assets under the pretext of electronic identity verification. Investors should complete genuine account verification requirements through their securities firms’ official channels rather than follow unsolicited instructions.
Existing rules require electronic trading accounts on digital securities platforms to be linked to and authenticated against electronic identity accounts. Securities accounts created before Decree No. 320/2026/ND-CP took effect must complete this process before Dec. 31, 2026. Fraudsters may exploit the requirement by claiming that accounts face suspension or trading restrictions unless investors act immediately. Fake links, QR codes and applications can capture login credentials, identity documents and biometric data. Requests to install remote control software or share screens can also enable account takeovers and unauthorized transactions.
Investors should independently verify unusual requests through official channels and avoid disclosing passwords or one time passwords to anyone. Identity documents and biometric data should not be submitted to unverified services, and purported support staff should not receive access to devices. Anyone who suspects an account has been compromised should promptly contact their securities firm to seek protective measures and, where funds are at risk, the relevant bank or payment provider to seek help blocking transactions. Further steps include changing passwords from a secure device, revoking suspicious login sessions and preserving evidence for police. Offers to recover stolen money may be another scam.