Tuesday, April 24, 2012

Timeshare Owners Beware! Western Union Scams Are On The Rise

Western Union scams are on the rise. Timeshare owners should be aware and a knowledgeable consumer/timeshare owner so as not to get tricked by them.

Timeshare ownership is a wonderful thing but haven't we all had those phone calls about how much your timeshare is supposedly worth, how companies are willing to help you sell/dispose of them etc.?

These sollicitations mostly come by telephone and sometimes postcards. An an especially sticky one is the recent rise in Western Union telephone scheme related timeshare scams. I have heard of dozens of such incidents from various "companies", a term which I use loosely because most aren't legitimate companies at all. Multiple timeshare owners have mentioned this company to me that recently got caught.

Those folks on the other end of the phone are tricksters. They know what they are doing. They hope (and pray!) that you are unsuspecting and that they are convincing enough to lighten your wallet while you think you are selling or disposing of a timeshare. They do not call them scammers for nothing!

Why Western Union? There are several reasons.....

First, as a timeshare company, legitimate or not, it's become harder and harder to obtain a merchant account which is necessary to accept credit card payments. Credit card processing companies view the timeshare industry as high risk. Which is sad because it makes it harder for those buying and selling thru legitimate outlets to do business but as always, scammers ruin it for everyone.

Second, with Western Union virtually anyone can pick up the money anywhere at any location that does Western Union. Unless an investigation like the one I'm about to share takes place, it's highly unlikely that it would be traced.

So it is obvious why more and more timeshare scammers have gone the Western Union route.

Fortunately, there has been another bust and two more arrests in Western Union timeshare related scams here in Florida. While this one appeared to originate in Hillsborough County, investigators eventually tracked the money pickup location (via Western Union) to Volusia County.

You can read all about it here:

Two Women Arrested In Volusia Timeshare Scam

Thirteen victims and more than $20,000 later, they were caught. It is fortunate that they were caught that soon because it's often difficult to trace Western Union money pickup or ascertain who is picking it up. Thanks to some consumer complaints and good police and investigative work through several agencies, these two got busted fairly fast.

Interestingly enough, one of the two arrested was actually banned from using Western Union which is probably why she needed a partner in her latest scheme. This is far from surprising.

Kudos to the authorities for keeping up with these unsavory characters!

As always, be safe and aware as a timeshare owner. As you know, deals that sound too good to be true usually are.

A legitimate company will not charge you up front fees to sell your timeshare, regardless of what they call or term them. In a legitimate real estate transaction, as selling a deeded timeshare would be, all costs should be taken care of and accounted for at closing, never up front.

In short, if they are asking for a Western Union payment, know that those scams are on the rise and simply hang up the phone!

2 comments:

  1. On this struggling economy, it’s almost impossible to have a timeshare and to be up to date with the yearly payments. Before buying a timeshare, calculate the total purchase price, including the timeshare fees and the cost of travel. Then, compare these costs with other vacation packages to the same destination where your timeshare is. Keep in mind that if you try to resell your timeshare it is very unlike that you recover the amount of money that you paid for it. http://www.timesharescam.com/blog/157-timeshare-fees/

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  2. I think you need to have good marketing to attract customers
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