Fraudsters have conned over £90,000 from victims after selling fake timeshares on holiday properties.
Action Fraud have reportedly received 30 reports of such scams between May and August, totaling in losses of £94,089.
The reports state that ‘salespeople’ are contacting victims with an offer of an attractive timeshare on a holiday property for an advance fee.
Once the fee has been paid the salesperson ceases contact with the victim who then discovers the holiday property does not exist.
'Timeshare fraud victims are vulnerable to recovery fraud'
The report from Action Fraud also found that recovery fraud – where victims of fraud are targeted again – are being approached by fraudsters claiming to be from Spanish authorities or a non-existent legal firm.
The scammers advise victims that they are due compensation but in order to obtain the payment must pay a administration fee.
Detective Inspector Chris Felton of the City of London Police’s National Fraud Intelligence Bureau explains more: “As with all victims of fraud, our reports show that timeshare fraud victims are vulnerable to recovery fraud.
"Recovery fraud is a common way in which fraudsters attempt to defraud people who have already fallen victim to fraud by offering to return what they have lost.
“If in doubt, always check directly with the relevant organisation to ensure the correspondence has come from a legitimate source.”