From the case of Mr. Pips scamming and luring investors into international stocks: With such profits, why do they keep inviting me day and night?

Many people were scammed out of billions of dong in international securities – Photo: Quang Ninh Police

Hanoi police have just dismantled the Mr. Pips Pho Duc Nam fraud ring and assessed that this is the "largest case in Vietnam in terms of foreign exchange and securities" with frozen assets of more than 5,200 billion VND and 2,661 victims.

Despite its large scale, the Mr. Pips case is just the “tip of the iceberg”. Believing in the super-profitable advertisements from “strangers”, many people are in pain when they lose all their money and do not know who to complain to.

When greedy for high interest, get rich quickly from international stocks, forex

Reflecting to Tuoi Tre Online , Mr. VVP (41 years old, Hai Duong) said he accidentally read a stock investment advertisement on Facebook with a commitment to "invest 30 million VND, profit 360 million VND".

At first he was skeptical, but after joining the online group and seeing many other investors boasting of making billions from international stocks, Mr. P. decided to invest.

After just over 7 days of joining this group, Mr. P. deposited a total of more than 500 million VND into the account and only when he could not contact the team of "experts" and "brokers" did he realize he had been scammed.

Currently, many international stock and foreign exchange investment groups and associations are actively operating on platforms or social networks. An online investment group called “Backcom.Copy.FX” has hundreds of members actively discussing stock codes.

In this group, one person claimed to be an expert in helping investors get rich with a minimum capital of 500 USD, investing with a commitment of "profits up to 30%/month, risks are controlled".

To increase the level of trust, this person continuously shows off the profits or the amount of money received from the trust of other investors.

There are also many different units claiming to be intermediary floors promoting financial leverage (margin) for international stocks and foreign exchange trading up to 50 times, meaning that investors who deposit 100 USD can trade 5,000 USD or copytrade services (copy transactions).

Investors are promised not to need to analyze stocks but only trade according to orders made by "experts", profits can be 30-50% or even 100%/month.

Like the forum "Trader with heart" on Facebook, there are nearly 1 million participating accounts, showing a great level of interest in international stock and forex channels.

Recently, many readers reported to Tuoi Tre Online that they received calls from employees claiming to be from international stock exchanges, or employees of domestic securities companies.

The familiar method is to proactively “add” Zalo, send investment documents for people to refer to. “No matter where the introduction comes from, the end result is that these subjects will invite people to participate in international stock exchanges,” said a reader.

Identify tricks and scams

“Investors participating in international securities investment on exchanges not organized and operated by the Vietnam Stock Exchange and its subsidiaries need to be extremely cautious, especially with invitations for high interest rates and profits, signs of lack of transparency, and be vigilant when receiving invitations to invest in international securities exchanges or international derivatives,” a recommendation from the State Securities Commission in the face of the increasing number of people participating in investment channels not recognized by Vietnamese law.

However, despite all the warnings, the number of people interested in and participating in international securities and foreign exchange is still large. In recent years, a series of frauds related to international securities, foreign exchange, and virtual currency have been exposed, with a large amount of money and a large number of participants.

According to experts, recently when deposit interest rates were very low, gold prices hit a record and then plummeted, domestic stocks were gloomy, a large amount of money was "pouring" everywhere to find attractive investment channels.

With the strong development of social networks and high technology, fraudulent exchanges can operate and find "prey" more easily.

Speaking with Tuoi Tre Online , Mr. Ta Thanh Tung - a personal financial planning expert at FIDT, said that many investors have limited financial knowledge but want outstanding interest rates.

That is the main reason why many people "fall" into the trap of scammers.

Mr. Truong Hien Phuong - senior director of KIS Vietnam Securities, said that international securities, Forex, and virtual currency fraud takes many forms, but in general, they still "hit" the greed and gullibility of investors.

“Looking at the images of supercars, USD, and gold “flooding” Mr. Pips’ website, many people were “overwhelmed,” Mr. Phuong said.

To avoid falling into the scam trap, Mr. Phuong said that the most important thing is still the alertness and caution of the people themselves. We often see invitations to invest in international stocks and foreign exchange with profits of up to 30-50%/month.

Before spending money, ask yourself why they keep inviting you day and night when the profits are so high and it's so easy to make money? Shouldn't they prioritize themselves and their families first when they have such a "good" opportunity?

Source: https://tuoitre.vn/tu-vu-mr-pips-lua-dao-loi-keo-dau-tu-chung-khoan-quoc-te-lai-vay-sao-miet-mai-moi-minh-ngay-dem-20241215081717862.htm