Timeshare ownership is considered an emerging industry in the world today. Despite the increasing number of owners getting out of their timeshares due to a number of disadvantages and the many scammers reported in this industry, it still attracts several consumers. However, as the fraudsters operate in various ways in this industry, the regulators are hunting them down.
Currently, the Resort Development Organization or RDO is putting these scammers on top of its priority list. Working with OFT, it acts as a watchdog for the industry. The two groups will then work together to expose fraudulent timeshare clubs and companies. The RDO has now over 130 members across Europe and this may give them many resources at their fingertips.
The head of RDO’s Enforcement Programme, Alberto Garcia, has already overseen the exposure of several bogus timeshare companies and last year he helped close down 26 fraudulent timeshare operators. According to him, there are more fraudulent timeshare operators out there and he is determined to trim down the numbers. As advised by Richard McIntosh, the RDO chairman, he strongly recommend that timeshare owners do not accept offers made by companies they do not recognize.
Scams really became a part of the timeshare industry nowadays especially for the owners who are eager to get rid of their timeshares. While some owners hire a timeshare transfer industry such as the Transfer Smart to get rid of such property, others fell into the wrong hands of scammers who operate in unsuspecting ways. As the number of these fraudsters tend to increase every year, the RDO is determined to hunt them while foreseeing the future for timeshare industry as unhindered by such activities or at least having no problems than other industries.