AI-driven trade fraud raises alarm for Vietnamese exporters

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AI-driven trade fraud raises alarm for Vietnamese exporters

Digitalisation and artificial intelligence (AI) are reshaping international trade fraud, prompting Vietnamese businesses to rethink how they protect themselves against increasingly sophisticated risks.

How trade fraud is evolving

Fraud targeting Vietnamese businesses in international trade is no longer limited to traditional tactics such as impersonation, payment scams, or forged documents. As digitalisation and AI rapidly advance, these schemes are becoming increasingly sophisticated, harder to detect, and more capable of manipulating trust at scale.

According to Associate Professor Greeni Maheshwari (Management program, RMIT Vietnam), fraudsters are increasingly using AI-generated emails, fake business identities, and even cloned voices or videos of executives to build credibility and manipulate trust.

Recent international cases demonstrate how these scams are evolving. In the UAE, fraudsters reportedly impersonated legitimate companies using authentic business licences and addresses, diverting payments into fake bank accounts or fake escrow platforms that disappeared once money was transferred. Another emerging tactic, known as “deliver-and-rot-at-port”, deliberately delays customs clearance of perishable goods until the products spoil, leaving exporters with severe losses.

Digitalisation has enabled payment diversion attacks, where email communications are compromised and bank details altered at the final stage. These scams often target export managers, finance departments, and small and medium-sized enterprises (SMEs). One recent case involving a Vietnamese company reportedly resulted in losses of nearly US$72,000 after fraudsters exploited digital trust during negotiations.

Beyond international trade, digital fraud has expanded into online investment and e-commerce activities, including fake cryptocurrency platforms, phishing links, and influencer-driven scams.

Associate Professor Greeni Maheshwari, RMIT Vietnam (Image: RMIT)

Why digitalisation increases vulnerability

According to Associate Professor Maheshwari, digitalisation has made fraud faster, more scalable, and significantly harder to identify.

Vietnamese firms, particularly SMEs, remain especially vulnerable because they rely heavily on email negotiations, digital documents, and remote transactions. This creates opportunities for AI-generated phishing, domain spoofing, and compromised communication channels.

“Fraudsters can now replicate supplier identities almost perfectly, reducing many of the traditional warning signs businesses once relied on,” she explained.

As Vietnam’s trade value surpassed US$930 billion in 2025, businesses are increasingly engaging with unfamiliar overseas partners entirely online. This expanded connectivity also allows fraudsters to target multiple companies simultaneously, particularly within shared supply chains.

While trade continues to grow, these risks can undermine financial stability, business confidence, and trust in new markets.

Businesses must adapt to AI-driven scams

Associate Professor Maheshwari emphasised that businesses must move beyond traditional risk management approaches and prepare specifically for digitally enabled fraud.

“Today’s scams are increasingly AI-enabled and data-driven. Fraudsters use fake digital identities, cloned websites, and leaked information to create highly convincing scenarios, meaning basic verification is no longer enough,” she said.

She advised businesses to watch for early warning signs such as unverifiable buyer profiles, unusual negotiation behaviour, artificial urgency, suspicious payment requests, and inconsistencies in documents.

However, these warning signs are also becoming more difficult to detect because they are now digitally manipulated.

Businesses must move beyond traditional risk management approaches and prepare specifically for digitally enabled fraud. (Image: Magnific)

To reduce exposure, businesses should adopt multi-layered verification systems, including:

independently verifying partners instead of relying solely on email communication

requiring dual confirmation for payment changes

using secure transaction platforms

training staff to identify AI-driven phishing and impersonation tactics

prioritising secure payment instruments such as letters of credit or verified escrow services

The role of government and regulation

According to Associate Professor Maheshwari, government authorities have a vital role to play in safeguarding businesses from increasing sophisticated fraud in import-export activities. This includes raising awareness through workshops and educational campaigns to inform companies about common fraudulent schemes.

Further, the support can be extended by strengthening legal frameworks governing cross-border trade and improving international cooperation for dispute resolution and law enforcement.

She also highlighted the importance of providing access to verified databases can help businesses identify trusted and legitimate international partners, reducing the risk of falling victim to scams. As AI makes it easier for fraudsters to create convincing fake identities, documents and communication, government can further support exporters by promoting digital verification standards and information-sharing mechanisms that helps business to identify threats.

Authorities can invest in AI-powered fraud detection systems capable of identifying suspicious trade patterns, forged documents, and unusual financial transactions. Governments can also develop platforms that allow businesses, financial institutions, and trade associations to report suspected fraud attempts and receive timely alerts.

To build the digital literacy, governments can provide specialised training on AI-related threats, including deepfake technology, synthetic identities, business email compromise, and manipulated trade documentation.

Additionally, facilitating law enforcement cooperation is crucial for supporting cross-border efforts to recover losses and bring fraudsters to justice.

Finally, offering support systems, including legal or financial assistance for companies victimised by fraud, will further bolster the protection of the business community.

In the era of AI, government must adopt technology-driven regulatory approaches. By strengthening digital verification standards, promoting information sharing, investing in AI-powered detection systems, and enhancing international cooperation, authorities can help businesses navigate the growing risks associated with AI-enabled fraud in global trade.

Story: June Pham

Business and management

Media Release

04 June 2026

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