The United States has taken action against a group of Mexican accountants and firms allegedly connected to a timeshare fraud scheme operated by the Jalisco New Generation drug cartel. Sanctions were imposed on three accountants and four Mexican real estate and accounting firms. Additionally, the Treasury Department and the FBI have issued a notice to banks, urging them to remain vigilant in identifying and reporting timeshare fraud carried out by Mexico-based transnational criminal organizations.
Timeshare fraud targeting Americans leads to significant financial losses each year. In 2022, the FBI's Internet Crime Complaint Center received over 600 complaints, resulting in approximately $39.6 million in losses from victims who were contacted by scammers regarding timeshares owned in Mexico.
