Multi-level marketing schemes in disguise: Financial, investment, and health scams targeting the elderly.
Currently, fraudsters are exploiting the anxieties about illness, the desire for additional income, and the kindness of the elderly to carry out many sophisticated scams. Financial, investment, and health-related scams are a prime example of this type of fraud. from Multi-level marketing schemes in disguise: Financial, investment, and health scams targeting the elderly.
by
Editor CLD
schedule11/12/2025
Currently, fraudsters are exploiting the anxieties about illness, the desire for additional income, and the kindness of the elderly to carry out many sophisticated scams. Financial, investment, and health scams are a disguised form of multi-level marketing, targeting two of the biggest psychological vulnerabilities of the elderly: the fear of illness and the desire for additional income to avoid depending on their children and grandchildren.
Bait: Investment seminars, cryptocurrency projects, or resort real estate investments with exorbitant interest rates (30-50% of 3-month installments per year).
Manipulation:
They use the tactic of offering "interest paid daily/weekly" to build initial trust.
Labeling it as a "Government-sponsored" or "Humanitarian Project" helps to dispel any doubts.
Trap: They entice elderly people to withdraw their savings, or even mortgage their land ownership certificates, to invest. Once they have collected enough money, the perpetrators disappear.
Sales Seminar & "Miracle Cure"“
Bait: Free health seminars, gifts (cooking oil, fish sauce, rice) or free trips.
Manipulation (The Crowd Effect):
At the seminar, they used "decoys" (people planted by them) to create a scramble for goods, generating artificial scarcity.
Exaggerating the benefits of dietary supplements and household products, labeling them as "cure-alls" or "nanotechnology/stem cells".
Act: Selling products at exorbitant prices (10-20 times their actual value).
Signs of recognition
Unreasonable profits: The promise of "High returns – Zero risk". (Financial principle: High returns always come with high risks).
Secret: The request was, "Don't tell your children or grandchildren; they won't understand, and it will hinder your chances of getting rich.".
Time is running out: "Only 2 spots left," "Offer valid today only.".
Preventive solution: "Family council"“
It's necessary to establish a strict family rule regarding major financial decisions:
Veto rule: Any decision involving large sums of money (e.g., over 5 million VND) or related to property deeds or savings accounts MUST involve discussion with the children or guardian.
Critical thinking: Always ask yourself: "Why is this opportunity coming to me?", "If it's so good, why don't they ask their family members to do it?".
Don't sign impulsively: Absolutely do not sign contracts or documents at seminars or without first taking them home for your children or grandchildren to read carefully.
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