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Mexican Cartels Expanding Criminal Enterprises
Mexican cartels are demonstrating an alarming propensity to engage in any form of criminal activity in pursuit of increased financial gain for their illicit enterprises. In addition to their well-known involvement in drug and human trafficking, certain cartels have now turned their attention to defrauding elderly Americans through timeshare scams, with estimated earnings reaching millions.
Taking Advantage of Elderly Americans
According to a report by USA Today, a U.S. government investigation has revealed that thousands of Americans have fallen victim to telemarketing scams orchestrated by the Jalisco New Generation Cartel (CJNG). Initially operating in Puerto Vallarta, the cartel has expanded its fraudulent activities to include a significant share of timeshares in Cancún.
The CJNG runs a network of at least two dozen call centers targeting American timeshare owners with deceptive offers, ultimately leading to financial losses for the victims. These scammers lure individuals into believing they will receive a payout upon completing a transaction, coercing them to cover expenses or taxes amounting to thousands of dollars upfront.
Profitable Illegitimate Ventures
The success of these scams is evident, with an undisclosed U.S. government official estimating that the CJNG rakes in hundreds of millions annually through these fraudulent schemes. The minimal overhead costs associated with this form of exploitation make it a more lucrative endeavor than their drug trafficking activities.
Efforts by American authorities have resulted in the sanctioning of 40 Mexican companies linked to the CJNG by the U.S. Treasury Department. However, due to the intricate web of shell companies shielding the perpetrators, very few victims have seen justice served.
Concerns Over Financial Fueling
The influx of funds generated by these criminal activities raises apprehensions regarding the cartels’ capacity to bolster their conventional operations, particularly at the vulnerable American southern border. With lax border security measures under the current administration, additional funding would only empower these criminal organizations further.
Legal limitations hinder the effective mitigation of these scams, as funds flow through Mexican banks that exhibit reluctance to intervene in illicit financial transactions. Spencer McMullen, a Mexican law attorney, emphasized the inefficacy of banking institutions in combatting these unlawful operations.
Heightened Awareness and Vigilance
Amidst these challenges, raising awareness about the prevalence of these timeshare scams is crucial in preventing further financial losses to cartels. Encouraging individuals, particularly those with timeshares, to exercise caution and refrain from sending money to unknown entities in Mexico is essential in combating this criminal exploitation.
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