Dai Nam students are alert and say "no" to tricks to lure people into participating in financial investment platforms such as Forex and BO.

Although authorities and the media have continuously issued warnings about the dangers of financial investment through illegal financial investment platforms, including Forex and BO binary options investment platforms, many people, especially students, are still "trapped" by this form of fraud.

Recently, the Financial and Business News of VTV 24 channel and the mass media have continuously reported warnings about forms of calling for financial investment through financial investment platforms, especially foreign exchange market investment (Foreign Exchange or Forex) and binary options investment (Binary Options or BO) such as Liber Forex, Lion Community, Lion Group...

Illegal financial exchanges are springing up more and more with increasingly sophisticated forms of operation and fraud tricks. (Illustration photo)

Accordingly, in the past year or so, on Facebook, many groups and individuals have posted statuses showing off the money they have earned and the money they have transferred thanks to investing in Forex and BO. In addition to showing off on their personal pages, many people also tag their friends in their statuses to spread information and entice them to join in order to "get rich together".

Specifically: With foreign exchange investment floors, with only about 10 USD, you can open an account to participate. The way to participate is extremely easy with lucrative tricks that make many people, especially students, "fall into the trap".

Authorities have confirmed that the operating model of some of these financial investment platforms is very risky. Because participants invest with real money, while benefits or commissions are calculated in virtual money or e-wallets and are not recognized by state management agencies as legal payment instruments. Participants in these platforms are also at risk of having their personal information disclosed and being scammed and having their assets appropriated.

Tricks to attract investors of financial exchanges.

Currently, Vietnamese law does not license any Forex and BO floors. Therefore, all individual foreign exchange transactions on these floors are not recognized and protected by law.

Not only that, these illegal financial investment floors also show signs of attracting participants by paying bonuses and commissions for inviting more members to invest in many levels and branches. This is a sign of illegal multi-level marketing.

According to the provisions of Decree 40/2018/ND-CP dated March 12, 2018 of the Government on the management of multi-level marketing activities (Decree 40/2018/ND-CP), all multi-level marketing activities with objects other than goods are prohibited (except in cases where the law provides otherwise). Therefore, the above financial investment floors are not granted a certificate of registration for multi-level marketing activities according to the provisions of Decree 40/2018/ND-CP.

Therefore, organizations and individuals participating in or mobilizing people to invest through the floor can be prosecuted under Article 217a of the Penal Code, and can be fined up to 5 billion VND or 20 years in prison.

Some warnings about this dangerous form of financial investment:

https://www.youtube.com/watch?v=B6zfu2zzSjc

https://www.youtube.com/watch?v=zu8SjmkwXnU&t=89s

https://cafebiz.vn/canh-bao-tranh-xa-san-dau-tu-tai-chinh-forex-20201209185054186.chn

https://tuoitre.vn/cong-an-canh-bao-dau-tu-tai-chinh-kieu-da-cap-2021020110115812.htm

https://vtv.vn/lanh-te/bo-cong-thuong-canh-bao-nguoi-dan-tranh-xa-san-dau-tu-da-cap-liber-forex-20201202200409571.htm

However, taking advantage of students’ desire to work part-time, earn extra money to cover their studies and their lack of legal knowledge and financial understanding, investment platforms have spread advertisements, enticing and luring students to participate in financial investments. Many students have “fallen into the trap” of these seemingly easy and lucrative tricks of enticement and attraction.

Dai Nam University warns students and trainees of all training systems of the school to be alert, vigilant, and absolutely not participate in financial investment forms such as Forex and BO.

All acts of enticing students to participate will be handled according to school regulations and state laws.

The Board of Directors requests that homeroom teachers, class officers, and the Youth Union Executive Committee notify all students of this information.

BTT