Police summon suspect linked to illicit bank-account trading

Police in Cam Đường Ward, Lao Cai Province have summoned and questioned a suspect accused of selling bank accounts through social media groups. Authorities said the accounts involved generated thousands of transactions in a short period, with transaction values reaching billions of đồng.

Detection and suspect profile

In April 2026, during its investigative work, Cam Đường Ward Police detected Đỗ Tiến Xuân (born 1997, residing in Tổ dân phố Công trường 5, phường Cam Đường) showing signs of buying and exchanging bank accounts illegally for profit.

Authorities said that in 2023, Xuân joined an online group specializing in the purchase and sale of bank accounts. The suspect allegedly used personal information, bought multiple SIM cards to register accounts at different banks, and then resold the accounts to other users for a total of 4.5 million đồng.

Transaction volume and alleged criminal links

Police reported that, after inspection, the accounts processed tens of thousands of transactions within a short time, totaling billions of đồng. Investigators noted signs connected to activities including fraud, organizing online gambling, usury-based lending, and money laundering.

Police actions and ongoing investigation

Immediately after the case was identified, Cam Đường Ward Police summoned and questioned Xuân, prepared an initial case file, and requested the locking of all accounts that had been sold to prevent further illegal transactions. Police also coordinated with relevant agencies to continue investigation and handling in accordance with regulations.

Broader warning about account rental and recruitment

Authorities warned that some individuals have been taking advantage of people’s desire to earn money quickly, luring citizens—especially youths and students—to open or rent bank accounts. Police said the recruitment typically involves requests for personal information, handing over ATM cards, registered phone numbers, and verification codes so the intermediaries can carry out illegal acts.

Police said many such accounts are used to receive and transfer funds in fraud cases; to facilitate money laundering and legitimization of illicit funds; to support online gambling and online betting; and to conduct cross-border transactions to conceal criminal traces.

Legal consequences and risk to account holders

Authorities emphasized that buying, selling, renting, or lending bank accounts is illegal and carries significant risk. Violators may face administrative penalties or criminal liability under Article 291 of the 2015 Penal Code (amended 2025), with imprisonment of up to seven years or fines of up to 500 million đồng, depending on the severity of the case.

Police also noted that accounts may be frozen and funds seized. Offenders may be placed on the banking system’s risk-warning list, affecting reputation and personal status.

Public guidance

Police urged citizens to stay vigilant and not participate in buying, renting, or lending bank accounts in any form. They also advised people to be cautious of offers of “easy money” on social networks. If any abnormal signs are detected, residents should report immediately to banks or the nearest police authorities for guidance.