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The FBI is issuing a stark warning to timeshare owners about a widespread telemarketing scam linked to a violent Mexican drug cartel. This project is aimed at unsuspecting property owners. This leads to huge financial losses. Here’s what you need to know and how to protect yourself.
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Illustration of time share property (Kurt “Cyber Guy” Nutsson)
Dimitruks’ Bad Time Sharing Scam Experience
In late 2022, Mr…. and Mrs. Dimitruk, a retired Canadian couple. Got a call about selling a timeshare in Florida. Scammers know their specific timeshare details. It promised Mexican buyers willing to pay above market value. Fraudsters use a complex process that involves fake New York escrow companies. ecurrencyescrow(.)llc asked Dimitruks to fill out a form and transfer more than $3,000 for “administrative” and “processing” fees.
For nearly a year, scammers have been making additional financial demands, citing taxes and fees. The couple also sent $5,000 to pay off the remaining timeshare balance. It is believed to be part of the sales process, said Mr. Dimitruk, a 73-year-old retired long-haul truck driver. Revealed in an interview with KrebsOnSecurity that they lost more than $50,000 through this scam Even after this huge loss Scammers continue to contact them. They claim that their money is waiting and demand additional payments.
Fake New York Escrow Company Email (KrebsOnSecurity) (Kurt “Cyber Guy” Nutsson)
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Affiliate connection to fraudulent schemes
The FBI has linked these timeshare racketeering schemes to the Jalisco New Generation drug cartel in Mexico, according to a July 2024 warning from FBI and Financial Crimes Enforcement NetworkThese scams are part of the cartels’ efforts to diversify their revenue streams and support other criminal activities. including drug trafficking
Since at least 2012, cartels and other transnational criminal organizations In Mexico, it has increasingly targeted Mexican timeshare property owners in the United States. Elderly people are especially vulnerable to such scams. The proceeds from these fraudulent activities not only support the operations of the cartel. But it also contributes to the production and trade of dangerous substances, such as fentanyl, into the United States.
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How do these scams work?
The Jalisco New Generation Cartel (CJNG) has expanded its criminal activities beyond traditional drug trafficking into sophisticated scams. This includes timeshare fraud targeting unsuspecting individuals. especially Americans Here are some of the methods used by cartels to carry out these scams:
Lawful impersonation of another person: Scammers often pose as real estate agents. Escrow Company or even officials from US government agencies such as the Treasury Department This strategy is designed to instill a sense of trust and urgency in potential victims. This makes them more vulnerable to fraud.
Targeting vulnerable populations: The cartel primarily targets elderly Americans who own timeshares in Mexico. These individuals are often contacted with an offer to purchase their timeshare at an inflated price. However, fees must be paid upfront, such as taxes or closing costs. Before making any transactions will be completed When these payments are completed Scammers will disappear. leaving victims with huge financial losses
Using the call center: CJNG operates an illegal call center. Employees are often not aware of the true nature of the alliance. and participate in telemarketing plans These centers are located in regions with high unemployment rates. It is a source of workers who may be unemployed. Call centers don’t just facilitate scams. But it also serves as a means for cartels to control local populations through intimidation and violence.
Complex fraud schemes: Scams can involve multiple layers of deception. For example, victims may be contacted multiple times by various scammers posing as professionals (such as lawyers or real estate agents) who claim they can help sell a timeshare. or recover lost funds This re-victimization often leads to further financial exploitation.
Violence and Intimidation: The coalition took drastic measures to maintain operational control and silence potential whistleblowers. Reports indicate that workers who try to quit these call centers face serious consequences. including murder It serves as a heartbreaking message to others who are considering leaving their coalition jobs. This brutal enforcement mechanism not only protects their operations; But it also creates fear in the community.
Digital infrastructure: CJNG uses a network of fraudulent websites and domains that appear legitimate at first glance. These websites often imitate escrow and real estate companies. This makes it difficult for victims to discern the authenticity of their interactions. Many of these domains are linked back to a central hub that handles multiple fraudulent operations simultaneously.
By understanding these operational strategies You will be able to better understand the complexities and dangers involved in scams perpetrated by criminal groups like the Jalisco New Generation Cartel. This knowledge is critical to preventing future victimization.
Warning from the government (Office of Foreign Assets Control U.S. Department of Treasury) (Kurt “Cyber Guy” Nutsson)
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Protecting Yourself from Timeshare Scams
To avoid becoming a victim of similar scams It is critical to take proactive steps to protect your financial interests:
1) Verify the buyer’s identity and offer legality: Always confirm the identity of the potential buyer and the authenticity of the offer. Contact the timeshare company directly to investigate any claims. made by buyer
2) Find information about any company. Contact you: Conduct thorough research on any business that contacts you, find reviews, complaints, and verify their credentials through reliable sources.
3) Watch out for upfront fees: Legitimate transactions usually do not require upfront fees for administrative or processing purposes. If the company requests such payment Use caution.
4) Use secure communication channels: Avoid sharing personal or financial information through unsecured means, such as phone calls or emails. Opt for secure communication channels whenever possible.
5) Don’t click on links.: Avoid clicking on links or downloading attachments from unsolicited emails. Scammers often use these tactics to steal your personal information. The best way to protect yourself from malicious links that install malware that may access your personal data is to install antivirus software on all your devices. This protection can also alert you to phishing emails and ransomware scams. To keep your personal information and digital assets safe Pick the winner of 2024’s best antivirus protection for your Windows, Mac, Android, and iOS devices.–
6) Consult an expert before proceeding with the transaction: Always seek the advice of a real estate attorney or trusted financial advisor before entering into any transaction. Their expertise can help you deal with any potential pitfalls.
7) Report suspicious activity to authorities: If you suspect you’ve been the target of a timeshare scam, Don’t hesitate to report it to local authorities. Report it immediately to the FBI’s Internet Crime Complaint Center at ic3.gov or the Federal Trade Commission. Reporting it can help protect others from falling victim to similar schemes.
8) Invest in personal data deletion services: Although the advice provided is valuable. But the most important step to protect yourself from such scams is to minimize your online presence. Reducing the amount of personal information available on the web This makes it much more difficult for scammers to target you. No service promises to delete all of your data from the internet. However, having a data removal service is great if you want to continuously monitor and automate the process of deleting your data from hundreds of sites on an ongoing basis. longer period Check out my top picks for data deletion services here.
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Kurt’s key points
Here’s the deal. These timeshare scammers are smart, determined, and backed by bad people. But don’t let that scare you into doing nothing. Remember that knowledge is power. By being informed and curious. You are already one step ahead of these fraudsters. Trust your gut If something feels wrong, it probably is. And don’t be afraid to ask for help or report suspicious activity. Let’s make life a lot more difficult for these scammers and keep your hard-earned money in your pocket.
What additional steps do you think officials should take to combat telemarketing scams targeting vulnerable populations? Let us know by writing to us at Cyberguy.com/Contact–
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