Vietnam's securities regulator warns on risks of unlicensed wealthtech apps

Vietnam's securities regulator warns on risks of unlicensed wealthtech apps

Photo : MayoFi / Unsplash.com

The State Securities Commission of Vietnam (SSC), on Wednesday, issued a warning to investors regarding the risks involved in using unlicensed wealthtech apps.

In a statement on its website, the SSC said that there are “several businesses that own online investment apps such as Passion Invest, Finhay, Tikop, Infina, Savenow, BUFF…raising capital from investors in the form of business cooperation contracts, fund management and securities portfolio management activities, which are not licensed by the SSC”.

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