On October 10, the Phu Tho Provincial Police announced that their Cybersecurity and Criminal Police divisions—in coordination with the Ministry of Public Security’s Cybersecurity and Foreign Relations departments—had successfully dismantled a sophisticated money laundering and illegal cross-border currency transfer ring involving foreign elements; seven individuals have initially been charged in connection with the case.
Authorities identified this as a highly complex, transnational, and anonymous high-tech criminal network. The criminal activities took place in Japan starting in early 2025. The perpetrators destroyed evidence, prepared scripts to evade law enforcement, and utilized multiple intermediary accounts alongside cryptocurrency transactions, making it extremely difficult to verify the true parties behind the transactions, trace the flow of funds, and gather electronic evidence.
Investigation results revealed that a group of foreign nationals impersonated bank employees to conduct scam calls targeting businesses in Japan, aiming to gain control of their accounts. Notably, on March 10, 2025, fifteen Japanese citizens fell victim to the scheme, transferring a total of approximately 707 million Yen (equivalent to 117 billion VND) into three corporate bank accounts—DEEP IMPACT, VENTURE INVESTORS, and LUNA DEVELOPMENT—controlled by the fraud ring. Upon securing these massive illicit funds, the perpetrators immediately sought to cover their tracks and move the money out of Japan via accomplices in Vietnam. Upon receiving the funds, the subjects immediately converted the entire amount into cryptocurrencies—such as USDT and ETH—and transferred them to the electronic wallets of a foreign criminal group, reaping illicit profits of 1–2% per transaction. Notably, this network had operated covertly for years; by the time it was dismantled, some individuals had used personal accounts to facilitate the movement of funds totaling trillions of dong.Based on collected documents and evidence, the Investigative Police Agency of Phu Tho Provincial Police has initiated criminal proceedings against seven suspects. Three of them—Vu Tung Linh (born 1993, residing in Phu Tho), Le Duc Hung (born 1994, residing in Thanh Hoa), and Nguyen Van Nam (born 1998, residing in Phu Tho)—have been detained on charges of "money laundering."
Preventive measures prohibiting departure from their places of residence have been applied to four other suspects—Nguyen Thanh Huyen (born 1997, Hanoi), Le Thi Binh (born 1992, Bac Ninh), Huynh Thi Kim Dung (born 1994, Phu Tho), and Nguyen Thi Thanh Huyen (born 1992, Hanoi)—for the act of "illegal cross-border transportation of currency."
During emergency searches, authorities seized six smartphones, one tablet, a Mercedes-Benz automobile, three savings books valued at 6 billion VND, five land use rights certificates, and various gold and silver bars and pieces relevant to the investigation.
The Phu Tho Provincial Police investigative agency will continue to expand the case, ensuring strict handling and leaving no crime unpunished. Individuals involved are urged to promptly report to the police and provide truthful statements to be considered for leniency in accordance with the law.
Police authorities advise the public to remain vigilant and strictly refrain from buying, selling, leasing, or lending bank accounts, or participating in or abetting underground money transfer networks and illegal money laundering schemes. In particular, the Vietnamese community living, working, and studying in Japan must heighten their awareness of the need to strictly comply with local laws; they must absolutely refrain from participating in informal "three-party" currency exchanges or illegal foreign currency trading, and firmly avoid any actions that violate Japanese law, thereby safeguarding both their own legitimate interests and the image of Vietnamese people in the host country.