FRAUD CONTROL IN REAL ESTATE TRANSACTION SERVICES: LESSONS FROM SOUTH KOREA AND POLICY RECOMMENDATIONS FOR VIETNAM

Abstract

 Fraud in real estate exchange services constitutes a persistent and multifaceted challenge across jurisdictions, including Vietnam. Manifestations are evident in the proliferation of fictitious exchanges, fraudulent deposit agreements, lack of transparency in market information, and insufficient inter-agency coordination.This study examines the legal frameworks and regulatory techniques employed in South Korea to address fraud in exchange-based real estate transactions. Through case analysis, it elucidates the Korean model, which relies on a mandatory registration regime for exchanges, the digitalization of transaction data, and transparent enforcement mechanisms to deter and sanction misconduct.Drawing upon these insights, the article offers several implications for Vietnam: strengthening statutory provisions on licensing requirements and the legal liabilities of exchanges, establishing a transparent national real estate database, and leveraging information technology in supervisory mechanisms. These proposals aim to reinforce legal enforcement capacity and enhance consumer protection within the real.