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.
These new sanctions follow previous actions taken by the U.S. in April 2023, when members or associates of the Jalisco New Generation drug cartel were sanctioned for their involvement in timeshare fraud schemes that specifically targeted elderly Americans.
Treasury Undersecretary Brian Nelson highlighted the sophisticated nature of cartel fraud operations, emphasizing that these criminals often pose as legitimate professionals to deceive U.S. citizens. He warned against unsolicited calls and emails, noting that individuals should exercise caution as offers that seem too good to be true are likely fraudulent.
The FBI offers guidance on how to avoid falling victim to timeshare fraud. Individuals are advised to be wary of uninvited communication from parties expressing interest in timeshares, especially those employing high-pressure tactics or demanding immediate responses. It is recommended to thoroughly research all individuals and companies involved, independently verify their identities, and seek assistance from trusted real estate agents or lawyers.
