Passport in hand, millions in bag
On many social networking groups, it is not difficult to see news about recruiting people to exchange foreign currency with attractive salaries, up to 1.2 million VND per session. The job requires very simple things: having a passport, a citizen identification card (CCCD), having to wait in line and having lunch.
Approaching a recruitment information posted on social media, the reporter - posing as a job worker - contacted an account named Tom Con. This person requested to provide a passport photo, a citizen identification card and the owner's phone number.
A few hours later, a person named Hung (character's name has been changed - PV) was introduced as the " troupe leader" - proactively adding reporters to the common chat group. The group included people lining up to exchange USD coins. Here, Hung announced the location and time of the gathering, with the first destination being the transaction office of the Ancient Quarter of Vietnam Maritime Commercial Joint Stock Bank (MSB) on Nguyen Thiep Street, Hanoi.
Money exchange is handled quickly
At the meeting point, the two group leaders, Hung and Quang (name changed - PV), waited in front of the transaction room.
Here, reporters and members of the group just sat waiting, while bank staff checked the documents.
In the group of people lining up to exchange USD, there are new people, old people, some people coming to themselves, and some people being introduced. All for the generous remuneration for a day of "going in line".
While waiting for the bank employee to check the application, a person in the group shared: "My friend went first and received the money so I introduced him. You say it's okay, just go to the bank to open an account and that's it."
From 8:00 to around 8:50 a.m., after comparing all the documents, including the plane tickets prepared by Hung, the bank called each person to sign. In a short time, each person was able to exchange up to 5,000 USD without having to pay any fees. The entire process of converting USD is quick and easy.
Immediately after completing the procedures for exchanging foreign currency, we continued to go to another bankpoint that Hung and Quang designated.
Reporters follow the group to the appointments that have been announced in the group. Everything went smoothly at: Hoan Kiem Transaction Office - VPBank (16 Thi Sach, Hanoi), Lo Duc Transaction Office - Eximbank Import-Export Bank (73 Lo Duc, Hanoi), Priority Customer Department - Headquarters of National Citizen NCB Commercial Joint Stock Bank (25 Le Dai Hanh, Hanoi).
At transaction points, customers only need to present their passport, citizen identification card, complete personal information and sign a commitment to receive the money.
After receiving the USD, the group members had to immediately give it back to Quang. This person is always waiting in a hidden camera location to collect money.
"There are cameras. The bank does not allow money exchange here" - Quang said and took us to the dark side.
Benefit from the difference
Quang shared that exchanging large amounts of USD helps make a profit, making a profit.
"For example, the bank listed 26,300 VND/USD but sold it to us for about 26,200 VND. Because we bought a lot of money, each of us gave 10 buyers, each of them had 5,000 USD. This is called eating at a disadvantage.
Then, sell to gold shops for about VND26,400/USD. We will get 200 VND/USD. The gold shop sold to a general store, No. 4 Ton Duc Thang, and bought Ha Trung Street" - Quang said about how to make a profit from exchanging USD.
Just like that, the money exchange activities are going smoothly, under the guise of customers who want to "mingle" to buy foreign currency to travel abroad, each "broker" hired can withdraw up to 5,000 USD at a bank. In just one day, Hung and Quang led nearly 10 people in the group to 8 banks, each earning at least 20,000 USD.
Thanks to the higher black market exchange rate, the difference in money from each transaction will flow into the pockets of the "money Issuer" - as Hung and Quang call it. As for tour guides like Quang, they can earn up to 1 million VND/day.
The situation of hiring people to exchange USD is not new. In 2022, Lao Dong Newspaper conducted a series of investigative reports into a ring that organized people to queue up to collect USD at many banks such as ABBANK, HDBank, Sacombank, MSB... to sell to the black market for profit. At that time, the subjects forged exit documents, taking advantage of loopholes in regulations to withdraw a maximum of 5,000 USD/person at each bank. In just one day, the "brokers" can collect hundreds of thousands of USD, receiving a difference of up to tens of millions of VND, while the hired person receives about 1 million VND for lining up.
This activity has been warned of the risk of losing foreign exchange reserves and negatively affecting the exchange rate management of the State Bank.
Although it has been exposed and warned many years ago, this trick still blatantly exists, raising questions about supervisory responsibility and the closure of loopholes in foreign currency sales policy.
