Phu Tho provincial police said the investigation agency had charged Vu Tung Linh, 33, Le Duc Hung, 32, and Nguyen Van Nam, 28. They are being investigated for money laundering.
In the same case, Nguyen Thanh Huyen, 29, Le Thi Binh, 34, Huynh Thi Kim Dung, 32, and Nguyen Thi Thanh Huyen, 34, are suspected of illegally transporting currency across the border.
The initial investigation found that a group of foreigners posed as bank employees and called companies in Japan to take control of their accounts. On March 10, 2025, 15 Japanese citizens fell for the scheme. They transferred about 707 million yen, equivalent to VND117 billion, to three bank accounts belonging to Deep Impact, Venture Invesstors and Luna Development, which were managed by the fraud group.
After taking the money, the criminals immediately tried to erase their traces and move it out of Japan through contacts in Vietnam.
After receiving the money, the suspects in Vietnam converted all of it into crypto assets such as USDT and ETH, then sent it back to electronic wallets controlled by the overseas group. They received an illicit profit of 1–2% from each transaction.
Police determined that the network had operated covertly for years. By the time it was dismantled, one suspect had used a personal bank account for transactions involving thousands of billions of dong.
Police said this was an anonymous, highly complex transnational cybercrime network. The group destroyed documents and evidence and prepared stories to deal with investigators, making the investigation and tracing of the money difficult.
Police urged people to be cautious, not to buy, rent out or lend bank accounts, and not to assist underground money-transfer or money-laundering networks. Vietnamese citizens studying or living in Japan were told to follow the laws of the country where they reside. Police also urged people not to take part in informal three-way money exchanges or illegal foreign-currency trading.
Sources: VnExpress
