Experts and law enforcement officials emphasized tighter regulation of cryptocurrency exchanges as a critical step to combat money laundering and transnational financial crimes during a seminar on December 18.

The seminar, titled "Enhancing capacity to combat financial crimes in cyberspace," was organized by the Ho Chi Minh City Police Special Projects Division in collaboration with the Vietnam Blockchain Association (VBA).

Colonel Le Quang Dao, Deputy Director of the Ho Chi Minh City Police, stated that the event aimed to identify methods and trends used by high-tech financial criminals. It also sought to address the urgent need to amend relevant policies and raise public awareness about online fraud.

Ngo Minh Hieu, Director of the Anti-Fraud Project, noted, "Fighting online fraud is not inherently difficult. Citizens need to slow down, verify information, and report suspicious activities to authorities to reduce risks."

Phan Duc Trung, Permanent Vice Chairman of the VBA, proposed expanding education about blockchain and artificial intelligence (AI) to diverse community groups through workshops, forums, and online training. He also stressed the importance of specialized training for law enforcement to enhance their ability to trace and prevent fraudulent activities.

Trung further recommended collaboration with international organizations and global data providers to optimize investigative efforts, identify illegal transactions, and prevent fraudulent activities proactively.

Colonel and Associate Professor Nguyen Van Chanh from the People's Police Academy emphasized community-wide education to raise awareness and vigilance against online fraud across all age groups.

The seminar highlighted the challenges posed by unlicensed cryptocurrency exchanges, which often serve as platforms for "pump-and-dump" schemes. Trung pointed out that several governments have cracked down on such exchanges to curb financial crimes. In Vietnam, he urged authorities to prioritize prevention over reactive measures.

Ho Chi Minh City police and cybersecurity experts also discussed methods for identifying cryptocurrency sources, tracing money flows, and improving investigative coordination to prosecute offenders effectively.

Dam De