Ever get one of those calls that just doesn’t feel right? Like when someone tries to sell you something too good to be true? Well, the FBI has a new warning about scams targeting timeshare owners, especially older Americans. Let's break it down so you can keep your money safe from these tricksters!
Simplified Summary
The FBI has issued a warning about scams linked to Mexican cartels targeting timeshare owners. These scams primarily victimize older, wealthy Americans, tricking them into paying upfront fees for fake deals related to their timeshares. Over the past five years, more than 6,000 people have lost a total of $300 million.
How These Scams Work
- Initial Contact: Scammers call or email, pretending to be timeshare brokers or sales reps.
- Fake Offers: They offer to rent your property, help you exit your timeshare, or invest in share certificates, asking for upfront fees or taxes.
- Re-approach: Scammers return pretending to be lawyers or government officials, promising to recover your money for more fees.
- Threats: Sometimes they threaten prosecution or fines to scare victims into paying.
Warning Signs of a Timeshare Scam
- Upfront Fees: Legitimate deals never require you to pay fees or taxes in advance.
- Government Impersonation: If someone claims to be a government official and threatens you, it's a scam.
- Suspicious Requests: Be wary if they ask for power-of-attorney forms or other legal documents.
Ways to Protect Yourself
- Don’t Answer Unknown Calls: Let unfamiliar numbers go to voicemail.
- Verify Before Paying: If someone contacts you about your timeshare, don't pay upfront fees.
- Avoid Sending Legal Documents: Never send power-of-attorney or legal documents via email.
Regulator-Validated Practices
- Verify IRS Contact: The IRS will never call or email you for personal information. Always verify through official channels.
- Secure Payments: Use electronic payments instead of paper checks to reduce the risk of interception.
- Use Trusted Sources: Only share personal information with trusted tax professionals who have strong cybersecurity practices.
Final Thought
Staying safe from these scams means being cautious and informed. If you’re ever unsure, double-check with a trusted source.
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