7 Vietnam counterparty fraud types — and how to prevent them
Updated: 2026-06-19 · KVBiz
Seven fraud patterns Korean companies commonly face in Vietnam trade, and how to prevent each — advance-payment fraud, account-change (BEC) fraud, shell companies and more, based on real patterns.
Key takeaways
- The most common losses are vanishing after an advance payment, deposits to a personal (not company) account, and mid-deal account-change (BEC) fraud.
- Prevention comes down to: ① check registration data, ② match the account name, ③ minimize upfront payment, ④ confirm goods/factory by video.
- Prices far below market or pressure for urgent upfront payment are fraud signals — stop the deal.
Seven common fraud types
- ① Shell company: an unregistered or closed company posing as legitimate — block it with a portal / tax-authority lookup
- ② Vanish after advance payment: takes the deposit, no goods, no contact — minimize the upfront ratio, start small
- ③ Personal-account deposit: asks you to wire a personal account — only pay when the account name matches the legal entity
- ④ Account-change (BEC) fraud: an email claiming "the account changed" diverts your payment — always re-confirm by phone/video
- ⑤ Quality swap: delivers low-grade goods different from the sample — tie the balance to inspection, inspect before shipment
- ⑥ Forged documents: fake invoices / shipping papers — cross-check issuer and numbers
- ⑦ Impersonated quote: uses a real company's name to approach you — verify against the official domain email and registration
Prevention checklist
- Verify registration data (MST, operating status, legal rep) before dealing
- Confirm the deposit account name = company name; refuse personal accounts
- Lower the upfront ratio (deposit/balance split); keep the first order small
- Be wary of free email, vague addresses and excessive pressure
- Confirm the contact, goods and factory by video meeting (with interpretation)
When something feels off
If fraud signals overlap, stop paying and re-check the registration. If you already paid, contact your bank immediately about a payment stop / recall, and get local legal advice if needed.
Use the KVBiz counterparty due-diligence tool to confirm basic company data in Korean, and set up a Flash Meet video call to verify the goods and identity directly.
Check a Vietnamese counterparty now
Confirm basic company data in Korean, and set up a video meeting if you need to verify the real thing.
FAQ
› I already paid and lost contact. What now?
Immediately ask your remitting bank about a payment stop / recall, and gather evidence (contract, invoice, transfer records). For large amounts, consider local legal advice and a police report.
› Can fraud be prevented 100%?
It cannot be made zero, but combining registration checks, account-name matching, minimal upfront payment and video verification greatly reduces the risk.
Related guides
※ Reference based on public information, not legal advice. KVBiz · Transflash