Mexican cartels, including the Jalisco Next Generation Cartel, the Gulf Cartel and the Sinaloa Cartel, have been involved in an elaborate timeshare scam that has defrauded senior Americans out of more than $300 million of dollars Cartels have reportedly used call centers and cyber tactics to carry out this fraud, conducting extensive research on potential victims before launching the scam.
Timeshare properties, vacation homes shared by multiple owners who buy blocks of time at the property each year, have become the focus of these scams. Scammers aim to financially drain their victims, causing significant damage to their financial future, relationships, and physical and emotional health.
The FBI has identified the Jalisco New Generation Cartel as the main group involved in the timeshare fraud, but it is believed that other cartels may be using independent call centers to carry out similar scams. Cartels create fake documents and use fake email accounts to contact their victims. They use high-pressure sales tactics and cyber-enabled fraud strategies, such as impersonating legitimate email addresses and forging official documents, to convince victims of the legitimacy of their scam.
Timeshare fraud often goes unreported, as victims may not realize they've been scammed or may be too afraid to come forward. However, the FBI encourages victims to report these scams and not suffer in silence out of shame or fear of judgment.
To avoid falling victim to timeshare scams, people are advised to never pay upfront fees, never submit a power of attorney form, and be wary of anyone claiming to be a government official discussing an agreement timeshare Recovering money lost in an online scam can be challenging, but victims are encouraged to contact their bank or credit card company to try to recover the funds. The Federal Trade Commission also recommends reporting known timeshare scams on its website, to the attorney general of the state where the crime occurred, and to the Better Business Bureau.
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