“Golden order” on social networks
In early June 2024, 4 state-owned commercial banks (Vietcombank, VietinBank, BIDV, Agribank) and Saigon Jewelry Company (SJC) organized the sale of SJC gold bars.
However, after a few days of opening the sale, the number of customers coming to trade was too large, so the units switched to selling gold online. Up to now, registering to buy gold online is still quite difficult for many people because the system notifies the end of transactions.
In the past 3 days, Ms. Tran Thuy Tien (living in District 5) continuously went to banks' websites to register to buy gold, but was never successful. After talking with her friend, Ms. Tien was introduced to groups accepting gold "hunting", selling gold purchase rates, accepting registration to buy SJC gold bars... on social networks.
“I see the service price ranges from 300,000 - 400,000 VND/tael. They committed to getting gold to pay, so I tried because registering to buy gold on my own was too difficult" - Ms. Tien shared.
The reporter contacted an account named Nguyen Hung to buy SJC gold for help in Ho Chi Minh City. This account said that if purchased at SJC Company, the fee is 150,000 - 300,000 VND/tael. At Vietcombank, it is 300,000 VND/tael, requiring customers to have an account with this bank and the account is still active at the time of transaction.
At BIDV, Vietinbank or Agribank, the fee is 200,000 - 400,000 VND/tael, requiring customers to have an account with this bank, the account must ensure enough money to buy 1 tael of gold, citizen identification card... Priority First-time customers, accounts that have successfully ordered will have to wait a while before continuing to buy.
“We guarantee a 90-100% success rate, no matter where the customer wants to buy, or any bank. Do not accept deposits, only deliver gold to receive money" - this account said.
Risks when buying and selling gold online
In particular, there are many groups that buy and sell gold quite bustlingly. PV participates in the group "Exchange SJC, PNJ, DOJI gold bars without intermediaries" with 10,600 members, each post posted to this group has a lot of interactions.
An anonymous account posted: "There are 2 taels of gold in District 1, Ho Chi Minh City for sale for 80.9", after only 5 minutes there were dozens of interactions. When the reporter asked to buy gold, this person proactively contacted him privately and said he would have gold the next day, buying as much as he wanted.
However, when asked about the invoice, this person said that the gold purchased and sold was of reputable origin. With or without invoices, buyers can still sell at outside gold shops.
Talking to Lao Dong newspaper, lawyer Nguyen Dang Tu - TriLaw Law Office - said that individuals agreeing on gold prices to trade, buy and sell all kinds of gold bars and gold rings with each other if not in accordance with regulations may be a violation of the law.
As we know, information of customers buying SJC gold bars in Ho Chi Minh City will be transferred to the police agency for management. And since the end of July 2024, Ho Chi Minh City People's Committee has also established a working group to ensure gold market security to collect and analyze information, data, and situations about customers buying and selling gold bars.
Every day, the State Bank Ho Chi Minh City branch collects and transfers to the Ho Chi Minh City Police information and documents on the list of individuals buying gold at SJC gold bar selling points of Saigon Jewelry One Member Company Limited and 4 commercial banks in the city.
"Therefore, individuals buying and selling gold bars can only do so at credit institutions and businesses licensed by the State Bank to buy and sell gold bars. If they violate, depending on the severity, they will be fined up to up to 20 million VND. Over-the-counter transactions can lead to many risks such as not having invoices or documents, being identified by the authorities as smuggled goods, unknown origin, or even counterfeit branded goods, can be confiscated," lawyer Nguyen Dang Tu - TriLaw Law Office - said.
