Tarnished timeshare industry acts at last and sets up own regulator as fraudsters’ new twist hits victims TWICE
The battered timeshare industry has set up its own regulator in a desperate attempt to tackle organised criminals defrauding customers, and to restore a reputation left in tatters by a string of scandals.
The latest spate of fraud aims not to sell new holiday timeshares but to sting existing owners. Often short of cash and facing retirement – or regretting their original investment – they are being targeted with fake offers to buy out their timeshares or switch them into new holiday deals that may not even exist.
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