Authorities dismantled a transnational money laundering ring worth 67 trillion VND.
Authorities have just dismantled an exceptionally large-scale cross-border money laundering and fraud ring, linked to cybercrime gangs in Cambodia, with total transaction flows exceeding 67 trillion VND.
On November 28, the Economic Police Department (Da Nang Police) announced that it had indicted 10 more defendants from various provinces and cities in a large-scale cross-border money laundering and fraud case, bringing the total number of defendants to 33.
The newly charged individuals include Le Van Ngoc Duy (Dak Lak), Phan Duc Hau (Hue), Ho Le Vu Hoai (Quang Ngai), Nguyen Truc Mai (Nghe An), Cao Ngoc Son and Vo Dai Luong (Khanh Hoa), Dinh Ngoc Long and Nguyen Minh Sang (Gia Lai), Chau The Anh and Nguyen Van Tuan (Quang Tri).
This move is part of an expanding investigation into a large-scale money laundering ring directly linked to these individuals.Cybercrime gangs in CambodiaHe was prosecuted by the Da Nang Police from January 2025.
Initially, investigators determined that the money laundering activities involved amounted to approximately 30 trillion VND. Under the direction of Major General Nguyen Huu Hop, Director of the Da Nang Police, the investigation was expanded, uncovering layer after layer of sophisticated schemes.
The audit results showed that the total amount of money laundered by the groups amounted to over 67,000 billion VND, along with 43 million USD, 1.5 million euros, and 1 million CAD.
During the raids, authorities froze more than 1,000 accounts; seized approximately 100 billion VND; confiscated 15 stamp engraving and printing machines, 500 fake seals and stamp images, nearly 100 fake citizen identification cards and blank forms, and 1,200 pages of business registration documents.
Initial investigations revealed that the group colluded with several bank employees, using forged documents to open over 1,000 "ghost" business accounts and purchase approximately 10,000 unregistered personal accounts. These accounts were then sold to criminal gangs in Cambodia to facilitate fraud and money laundering activities.
Da Nang police have initially recorded dozens of victims in various provinces and cities whose assets were stolen, with some cases resulting in losses of up to 12 billion VND.
The investigation into this case is currently being expanded.