About Us | Contact Us
View Cart

Timeshare Marketing Scams

By Vigilize | Tuesday, January 31, 2012 - Leave a Comment

A Warning from the Internet Crime Complaint Center

The Internet Crime Complaint Center (IC3) has announced that timeshare owners across the country are being scammed out of millions of dollars by unscrupulous companies that promise to sell or rent the unsuspecting victims’ timeshares. In the typical scam, timeshare owners receive unexpected or uninvited telephone calls or e-mails from criminals posing as sales representatives for a timeshare resale company. The representative promises a quick sale, often within 60-90 days. The sales representatives often use high-pressure sales tactics to add a sense of urgency to the deal. Some victims have reported that sales representatives pressured them by claiming there was a buyer waiting in the wings, either on the other line or even present in the office.

Timeshare owners who agree to sell are told that they must pay an upfront fee to cover anything from listing and advertising fees to closing costs. Many victims have provided credit cards to pay the fees ranging from a few hundred to a few thousand dollars. Once the fee is paid, timeshare owners report that the company becomes evasive – calls go unanswered, numbers are disconnected, and websites are inaccessible.

In some cases, timeshare owners who have been defrauded by a timeshare sales scheme have been subsequently contacted by an unscrupulous timeshare fraud recovery company as well. The representative from the recovery company promises assistance in recovering money lost in the sales scam. Some recovery companies require an up-front fee for services rendered while others promise no fees will be paid unless a refund is obtained for the timeshare owner. The IC3 has identified some instances where people involved with the recovery company also have a connection to the resale company, raising the possibility that timeshare owners are being scammed twice by the same people.

If you are contacted by someone offering to sell or rent your timeshare, the IC3 recommends using caution. Listed below are tips you can use to avoid becoming a victim of a timeshare scheme:

  • Be wary if a company asks you for up-front fees to sell or rent your timeshare.
  • Read the fine print of any sales contract or rental agreement provided.
  • Check with the Better Business Bureau to ensure the company is reputable.

Anyone who believes they have been a victim of this type of scam should promptly report it to the IC3‘s website at www.IC3.gov. The IC3‘s complaint database links complaints together to refer them to the appropriate law enforcement agency for case consideration.


The Internet Crime Complaint Center (IC3) is a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA). IC3’s mission is to serve as a vehicle to receive, develop, and refer criminal complaints regarding the rapidly expanding arena of cyber crime.


 

Latest News
    The Four Basic Truths of System Security Webinar-Video The last thirty years have seen an evolution of frameworks, laws, and assessment approaches to information security which can intimidate the management team with their complexity. This webinar will discuss the four basic truths of system security regardless of frameworks or approach, and eight control systems to […]
    Community Banking and their layers of security. . . Michael Hartke’s first post as Executive Vice President! Thinking back to my first talk to security professionals in community banking almost 10 years ago, the question continues to this day. First some background… infotex was moderating the Indiana Bankers Association Security Conference when one of the […]
    Reasons why we should be considered! infotex provides a number of services that can be checked out if you click over to offerings.infotex.com! We even made a movie with all the reasons why infotex should be your next MSOC!  
    infotex and GoTo To all infotex managed security service Clients: As recently reported by major news outlets there was a data breach affecting GoTo (formerly LogMeIn) wherein attackers stole encrypted backups containing customer information in November 2022.  Based on the advisory from GoTo the products they offer that are affected include LogMeIn Pro, LogMeIn Central, […]
    An option for increasing security for ALL organizations. . . The threat landscape is evolving daily, and it is becoming increasingly difficult for even large organizations providing cyber defense services to keep up. As Brandao (2021) notes, it is important for organizations to adapt holistic technologies that can correlate all attack events. Therefore, developing XDR […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Check out posters.infotex.com for the whole collection! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape) You are welcome to print out and distribute this around your […]
    A relic of the internet’s less secure past, many small firms struggle to secure their email systems… An article review. With a great deal of cybersecurity related news focused on new threats and similarly new techniques aimed at combating them, it can be easy to forget some of the older threats that have never gone […]
    Seven Trends . . . …that small bank Information Security Officers face in 2023 Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Welcome to the Magnificent Seven, my annual predictive article about the seven trends in technology that will impact the Information Security Officers of […]
    System Security and Cybersecurity are not the same thing. . . Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Regarding “information security,” the last thirty years have seen an evolution of frameworks, laws, and assessment approaches which intimidate the management team with their complexity.  […]
    The cryptographic algorithm is vulnerable to attack and is no longer considered secure… An article review. NIST has announced that it plans to retire the SHA-1 cryptographic algorithm by the end of 2030, citing multiple vulnerabilities in the standard, effectively ending its use after nearly 30 years.  Introduced in 1995, SHA-1 used a 160-bit hash […]