The United States has imposed sanctions on three Mexican accountants and four real estate and accounting firms allegedly linked to a timeshare scam ring operated by the Jalisco New Generation drug cartel. The scheme, which targets American victims, results in tens of millions of dollars in losses annually.
The FBI’s Internet Crime Complaint Center received over 600 complaints with losses of approximately $39.6 million from victims who were contacted by scammers regarding timeshares owned in Mexico. In some cases, the scam artists posed as U.S. Treasury Department officials to carry out their frauds.
Experts warn that cartel- supported criminals are expertly trained in scamming American citizens and may use sophisticated tactics to deceive victims. They advise being cautious of unsolicited calls, texts, or emails from unknown individuals, being wary of high-pressure offers, and researching anyone you do business with before making a transaction.
The FBI shares tips on how to avoid timeshare fraud, including being careful of uninvited contacts, verifying the identity of companies and representatives, and seeking legal advice when necessary. The agency also advises against paying taxes or fees upfront without verification from reputable sources.
In addition to the sanctions, the U.S. Treasury Department issued a notice to banks reminding them to be vigilant in detecting and reporting timeshare fraud perpetrated by Mexico-based transnational criminal organizations.
The Jalisco New Generation drug cartel is notorious for its involvement in the production and smuggling of deadly fentanyl pills into the United States, which causes an estimated 70,000 overdose deaths per year. The cartel’s leader, Nemesio Oseguera, aka “El Mencho,” is considered one of the most dangerous transnational criminal organizations in the world and is being sought by Mexican and U.S. authorities.
Source: CBS
