The FBI has issued warnings, particularly for older Americans, that a scam Mexican cartels are using that offers victims help reselling their timeshares has cost victims millions of dollars.
An alert from the FBI warns that timeshare resale scams often run by Mexican cartels are targeting older Americans and bilking victims out of millions.WASHINGTON – A national alert from the FBI warns consumers, particularly older Americans, that a scam often perpetrated by Mexican cartels has defrauded victims of millions of dollars.
“Timeshare fraudsters aim to suck their victims dry, with devastating consequences to victims’ financial futures, relationships, and physical and emotional health,” Paul Roberts, an assistant special agent in charge who leads FBI New York’s Complex Financial Crimes Branch, said in Timeshare scams have been around for years, the FBI said. They have become a popular money-raising tool among Mexican cartels because they are cheap to run and poses fewer logistical, labor, and oversight challenges than other revenue generators like drug and weapons trafficking.
The agency is using a combination of strategic partnerships to detect, investigate, and prevent these schemes. It offers these tips to avoid timeshare frauds:Be wary of any offers that require an immediate response. Scammers will use tactics such as high-pressure and time-sensitive offers.
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