Strathcona County RCMP Warn Public Of Timeshare Scam
Nov. 15, 2022
Strathcona County RCMP warn public of timeshare scam
Strathcona County, Alta. - Strathcona County RCMP are currently investigating a scam involving the sale of a timeshare and want to warn others about this elaborate scheme.
Many timeshare scams involve a person who will pose as a reseller or real estate agent who will claim they are interested or have a buyer for the timeshare. They will go to great lengths to appear legitimate and credible. They will use names, addresses and phone numbers of reputable business, create elaborate websites and official looking documents.
After persuading you to sell your timeshare the scammer will ask you to send money upfront by wire transfer for various reasons such as: closing costs, maintenance, taxes and other fees. Once you send the money the scammer typically requests additional money for unforeseen expenses. In the end there is no actual sale and the victim can be out thousands of dollars.
Be cautious of scammer requiring you to create an account in another County in order to proceed with money transfer or requesting cryptocurrency transfer.
The Canadian Anti-Fraud Centre advises sellers of time shares to be suspicious of any organization that:
- Contacts you without an invitation, for example by cold calling.
- Asks you for any kind of up-front payment, for example a deposit or administration fee: a legitimate broker will not cold call you or charge an upfront fee.
- Says they have a buyer waiting to buy your timeshare.
- Asks you to send them your Ownership Certificate.
- Puts a lot of pressure on you to make a decision quickly.
- Asks for your credit card details but tells you they won’t take any payment.
- Asks for any personal information, for example your bank details or address.
- Has a 1-900 prefix — legitimate companies will have a 1-800 number.
The best protection from scammers is to learn how to resist being pushed into a decision regardless of how persuasive or aggressive the scammer may be. Arm yourself and the vulnerable people in your life by learning how to recognize and protect yourself from fraud: www.antifraudcentre.ca.