Speaking at the Government's regular monthly press conference on July 4, Major General Nguyen Quoc Toan, Chief of Office and spokesperson for the Ministry of Public Security, provided an update on the investigation into the alleged holiday contract scam.

He said the case has attracted widespread public attention and is being handled as part of the ministry's broader campaign against crime, particularly fraud and property appropriation.

According to Major General Nguyen Quoc Toan, the ministry has instructed investigators to uncover the full scope of the network and maximize the recovery of assets taken from victims.

Police in Hanoi and Ho Chi Minh City have received around 2,500 reports, complaints and criminal allegations related to this type of scheme. Based on those reports, investigators in the two cities have launched four criminal cases involving 525 suspects on charges of fraud and property appropriation. Two additional suspects have been charged with both fraud and money laundering.

Preliminary estimates indicate that victims lost approximately VND2.6 trillion (US$99.2 million).

Four common characteristics of the fraud

Describing the methods used by the suspects, the ministry's spokesperson said they typically established companies operating under the guise of investment partnerships in sectors such as tourism, holiday resorts, healthcare and medical services.

The schemes primarily targeted financially secure individuals, including middle-aged and elderly people, as well as those interested in travel and health-related services.

"The core tactic is psychological manipulation designed to facilitate fraud," Major General Nguyen Quoc Toan said, outlining four common characteristics of these operations.

First, the schemes rely on attractive promises such as free gifts, generous incentives, unusually high returns and special promotional offers. According to the spokesperson, these are the common "trigger words" used to exploit victims' emotions and decision-making.

Second, suspects create a false sense of urgency by promoting limited-time offers and exclusive benefits, encouraging potential customers to sign contracts and make payments quickly.

Third, participants are always required to transfer money upfront with the expectation of receiving profits or investment returns.

Fourth, victims are ultimately unable to recover their money. When customers attempt to terminate their contracts or withdraw funds, they are generally unsuccessful. Instead, the suspects continue inventing additional procedures, excuses and promises in an effort to persuade victims to make further payments.

Major General Nguyen Quoc Toan said investigators in Hanoi and Ho Chi Minh City are continuing to expand the investigation. He urged anyone whose experience resembles the cases under investigation to contact the authorities and provide information to assist investigators while protecting their own legal rights.

The ministry also warned the public to remain highly cautious of investment opportunities promoted with claims such as "free," "special offers," "valuable gifts," "high returns," or "easy work with high pay."

People should carefully verify all information before making any financial commitments, he said.

The spokesperson added that similar tactics are widely used not only in holiday contract scams but also in online fraud and other forms of high-tech crime.

"In any arrangement resembling a holiday contract, people should carefully examine the companies, projects and products before deciding to invest or participate in business activities," Major General Nguyen Quoc Toan said. "If anything appears suspicious, verify the information thoroughly, and if there are signs of fraud, promptly report it to the competent authorities or the police."

Tran Thuong