Reports of the alleged fraud surfaced this month, when more than 300 Vietnamese students living in Australia received invalid tickets for various overseas flights before the Lunar New Year.

At that time, members of the Facebook group Vietnamese Dynamic Students had bought discounted Vietnam Airlines tickets through one of its female members.

They paid about $1140 each to travel return from Melbourne and Sydney to Hanoi and Ho Chi Minh City.

By purchasing their tickets through the woman, students got discounts of about $300-$400.

Some students had bought tickets from the woman before, without incident, and had recommended her.

However, about 240 students found their tickets to be invalid for a portion or the whole of their journeys.

"Some people, they go to the airport and they check in and it says their ticket is invalid," Minh Nguyen, a course co-ordinator within the student group, told Fairfax Media this month.

Seeking answers, students in the group visited the woman's home in Petersham, in Sydney's inner west. However, the woman could not be found.

On Monday, a scanned copy of a letter from the NSW Police Force was posted on the Vietnamese Dynamic Students Facebook page, asking for "all people who believe they are victims of this fraud" to email police.

Mr Nguyen said he and his friends were "quite happy" to hear the woman had been charged.

"Hopefully they recover what we have lost. Maybe later this afternoon we will try to get in contact with the police to find out the next stage," he said.

Initial advice led police to believe the alleged fraud involved $500,000. However, further inquiries revealed the figure was closer to $360,000.

The 24-year-old woman was arrested at her Petersham home on Wednesday, charged with 10 counts of dishonestly obtaining financial advantage by deception.

She was granted conditional bail and is to appear before Downing Centre Local Court on February 3.

With Patrick Begley