VCCA warns against AI powered multi-level marketing schemes
The Vietnam Competition and Consumer Protection Authority (VCCA) has issued a warning to investors about the perils of investing in illegal multi-level marketing businesses run by "AI Robots".
Hanoi(VNS/VNA) - The Vietnam Competition and Consumer Protection Authority (VCCA)has issued a warning to investors about the perils of investing in illegalmulti-level marketing businesses run by "AI Robots".
The VCCAhas noted a number of organisations and individuals, that do not hold propercertification, inviting people to invest in "AI Robots" throughwebsites and apps like snowai (snowaiapp.com;snowai.cc; snowai.net); inb.network (ai.marketing; aimarketing.link).
In addition,investors are also at risk of financial loss when investment results are notguaranteed. To avoid financial and legal losses, the VCCA warns peoplespecifically not to invest in snowai and inb.network.
Thesebusinesses accept investments yet they are not recorded on any official systemsor registered or recognised by State authorities. Subsequently, thesebusinesses can disappear at any time leaving investors with no way to recouptheir investment.
That said, theVCCA also noted that multi-level marketing businesses operating without acertificate of registration can be criminally handled with up to five years inprison under the provisions of Article 217a of the Penal Code.
Multi-levelmarketing businesses often invite people to invest money to hire "AIRobots" that will autonomously conduct affiliate marketing programs topromote products for brands or conduct transactions on crypto currencyexchanges.
Investors canalso earn commissions from orders or virtual currency transactions, includingcommissions on the investments of people that they convince to join the scheme.
Since 2016,capital mobilisation models, or variations of multi-level businesses in the 4.0era, have appeared more and more.
Recently, asthe underlying asset market has become more volatile, investors have turned tointernational stocks and the foreign exchange market. This has led to thecreation of applications with the ability to beat the market in a varietyof ways. These include: trading robots, artificial intelligence, matrixalgorithms among many others./.
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Snow Ai platform. (Photo: baochinhphu.vn) 
