CLUB NEWS | AUGUST 29, 2024
Scambusters: New Timeshare Scam Reported In Mexico
Margaritaville Vacation Club owners should be aware of a new timeshare exit scam reported out of Mexico that targets U.S.-based timeshare owners. In a recent notice jointly released by the FBI (Federal Bureau of Investigation), FinCEN (U.S. Department of the Treasury’s Financial Crimes Enforcement Network), and OFAC (Treasury’s Office of Foreign Assets Control), it was announced that since at least 2012, several Mexico-based transnational criminal organizations have increasingly targeted U.S. owners of timeshare properties in Mexico. Older adults, including retirees, are frequent victims in these scams.
What’s The Scam?
According to the FBI, the scammers are generally highly fluent in English and engage in complex, lengthy efforts to convince their victims of their legitimacy. They generally contact victims by phone or email and claim to be U.S.-based third-party timeshare brokers, attorneys, or sales representatives in the timeshare, travel, real estate, or financial services industries. In some cases, they will even impersonate well-known U.S.-based companies, to gain trust and establish credibility with their victims. Thousands of timeshare owners have fallen prey to this scam, as the scammers are reportedly very sophisticated in their ability to convince timeshare owners of their legitimacy.
What To Know
If you receive an unsolicited communication, either by phone or email, from someone claiming to want to assist you with selling your Margaritaville Vacation Club ownership, you should automatically approach the situation with skepticism. There are more fraudulent timeshare exit scams than there are legitimate exit brokers, so you should handle the situation with extreme care.
Please be aware that Margaritaville Vacation Club, Wyndham Vacation Ownership, or Travel + Leisure Co. will never call you and offer to help you exit or sell your timeshare ownership. If someone calls you and claims to be a representative of Margaritaville Vacation Club, know that it is a scam and disengage in communication with that entity immediately.
If you have questions about your ownership, including exit, contact Wyndham Cares to help you find a solution that works for you now and into the future. Another source of information to protect yourself is the Coalition for Responsible Exit through ARDA.
Recently, Wyndham Vacation Ownership secured a victory for its owners in federal court against a fraudulent exit company targeting owners with false advertising misleading customers.
What to Do If The Scammers Target You
If you’ve been the target or victim of this or any other timeshare exit scam, it is important to report it to the proper authorities, to aid with bringing these scammers to justice and protecting other owners from being victimized. To report timeshare fraud to the FBI, visit the FBI's Internet Crime Complaint Center at ic3.gov or call 1-800-CALL-FBI to speak to an in-person representative.
For More Information
The American Resort Development Association (ARDA), a well-established coalition of longstanding timeshare and resort development associations, shared this article on timeshare scams (original credit AARP).
You can also visit the Scambusters landing page for the latest information on timeshare scams.
