Recently, there have been many cases of customers buying gold on social networks but receiving fake or poor quality products. Specifically, recently, gold buying and selling groups shared the story of a customer in Bac Ninh being tricked into buying fake gold when trading in a Facebook group. On social networking groups, gold is being sold at a price 70,000 to 80,000 VND cheaper than in stores. Taking advantage of the psychology of preferring cheap prices, many people have mixed in poor quality gold for profit.

It was only when this customer went to sell the ring at a gold shop in Bac Ninh that they realized it was fake gold. From the outside, it is difficult to tell that this is a fake gold ring, because they are packaged very sophisticatedly, from the label to the brand and logo of the manufacturer.

Fake gold is made to look exactly like real gold. Photo: BTMC

Similarly, Mr. Hoang Hiep (Go Vap District, Ho Chi Minh City) shared that 2 months ago, he wanted to buy gold rings as a wedding gift, but many gold shops announced that they were out of stock. Some shops allowed him to deposit and arrange to pick up the gold a few weeks later, but because he needed it urgently, he could not wait. According to a friend, he went online to consult and joined online gold buying and selling groups. He saw some places selling gold rings at competitive prices through intermediaries, but he was still concerned about the quality, so he had not decided to make a transaction.

Currently, as long as there is a need, customers type in a search for buying and selling gold on social networks, immediately dozens of forums will appear such as gold prices, gold trading, gold bar exchanges without intermediaries. However, most of the people posting in these groups are displayed in anonymous mode. If not carefully researched, many people will think that this method of buying and selling gold helps save on price differences, but it can be "more harmful than beneficial" when facing risks such as: losing transferred deposits; buying fake gold, counterfeit gold, gold of the wrong age...

The continuous increase in gold prices also creates loopholes for scammers. According to the reporter's records, there are currently some "brokers" standing in front of gold shops willing to pay a difference of 200,000 - 300,000 VND/tael compared to the purchase price to buy back gold, making many people feel worried about the fluctuations in gold prices, possibly suffering losses, affecting the stability of the gold market.

Experts also recommend that to avoid risks when buying and selling gold, customers should go directly to reputable businesses to buy the right amount and have their money and gold checked during the transaction, especially to be given signed and stamped documents when buying and selling.

The State Bank of Vietnam (SBV) Ho Chi Minh City branch noted that people are only allowed to buy and sell SJC gold bars at credit institutions and enterprises licensed by the SBV to buy and sell gold bars. Gold trading enterprises (gold jewelry and fine art) that are not licensed to buy and sell gold bars and buy and sell gold bars with individuals and organizations are in violation of Decree No. 24/2012 and other relevant legal regulations and will be punished according to regulations.

A representative of Bao Tin Minh Chau Gold Company added that to distinguish real gold from fake gold, customers can identify it through the following characteristics: The stamp and brand logo are clearly printed, in the right color, the full weight of gold is printed inside the ring, and there is a barcode to trace the origin.

Source: https://thoibaonganhang.vn/canh-giac-khi-mua-ban-vang-online-161453.html