Skip to Content
AP National

U.S hits Mexican accountants and firms with sanctions for timeshare scams that support drug cartel

By
Published 9:43 AM

Associated Press

WASHINGTON (AP) — The U.S. has imposed sanctions on three Mexican accountants and four firms allegedly linked to a timeshare fraud ring run by the Jalisco New Generation drug cartel. In addition, Treasury and the FBI issued a notice Tuesday to banks with a reminder to be vigilant in detecting and reporting timeshare fraud perpetrated by Mexico-based transnational criminal organizations. Time share fraud targeting Americans results in tens of millions of dollars in losses annually. In 2022, the FBI’s Internet Crime Complaint Center received over 600 complaints with losses of roughly $39.6 million from victims contacted by scammers regarding timeshares owned in Mexico.

Article Topic Follows: AP National

Jump to comments ↓

The Associated Press

BE PART OF THE CONVERSATION

KYMA KECY is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content