US Warns Financial Institutions About Mexican Cartel-Run Timeshare Fraud

‘Older adults, including retirees, are frequent victims in these schemes,’ the Treasury Department said in a joint statement with the FBI.

U.S. Attorney for the Southern District of Texas Alamdar S. Hamdani (L) speaks during a news conference in Houston on April 1, 2024. Mark Felix /AFP via Getty Images

U.S. federal agencies said they are cracking down on Mexican cartel-run timeshare scams facilitated by financial entities that often focus on older adults.

Sanctions have been placed on four Mexican companies and three Mexican accountants connected to cartel-led timeshare fraud activities, the Treasury Department’s Office of Foreign Assets Control (OFAC) said in a post on X.