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Thousands duped by illegal trading platforms in Vietnam
By Dat Nguyen June 28, 2021 | 07:17 am GMT+7
Police bust the headquarter of illegal trading platform Hitoption.net in Hai Phong City. Photo courtesy of Hai Phong Police.
Forex trading fraud has become widespread in Vietnam with hundreds of thousands of investors lured by the promise of high profits offered by tricksters.
Hai Phong police last Tuesday busted a large illegal trading network in the northern port city with 16 platforms in which over 115,700 investors had poured in more than VND7.5 trillion ($326 million).
Among the platforms was Hitoption.net, a forex trading platform with 969 investors.
Unsecured loan sales may see growth accelerated in response to a Vietnamese government ban on debt collection services – however, experts believed a clearer legal framework and firmer rules would help spur a more substantial unsecured debts market.
VIETNAM BUSINESS NEWS JUNE 3 Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công
03/06/2021 12:20 GMT+7
Stock market hits historic peaks
Vietnam’s benchmark VN-Index rose 3 points on June 3 to reach a record-high of 1,340.78 points.
Liquidity on the Ho Chi Minh Stock Exchange (HOSE) also posted a new record of nearly 26.14 trillion VND (1.13 billion USD).
The southern bourse saw 222 codes rising, 187 codes declining, and 49 remaining unchanged.
The HNX-Index on the Hanoi Stock Exchange, meanwhile, rose 3.58 points to 322.05 points, also a new high.
Liquidity stood at more than 4.41 trillion VND. It had 112 codes increasing, 79 declining, and 80 staying flat.