#SecureSummer – Investment Fraud – Timeshares and holiday club memberships – 2 of 5

Click Safe. Travel smart. 

 

This summer, be cautious of timeshares and holiday club deals that look too good to be true. Timeshare and holiday club scams are on the rise. These deals often involve urgent time-limited offers, upfront fees and promises that don’t stack up.

 

What are timeshares and holiday clubs?

A timeshare is where you pay money to own the right to use a holiday property at specific points in the year. You share the right to use the property with other people who have also paid and use it at different times to you. The properties are often holiday homes either in the UK or abroad.

A holiday club membership is where you pay a regular subscription fee to receive points or credits that you can use to book accommodation for a holiday, sometimes at a cheaper rate than other accommodations.

 

Why are they a risk?

Scammers have been advertising timeshares and holiday club memberships that turn out to be fake or worthless. They could have extra costs that are hidden from you when you buy, or they might be really hard to sell if you no longer want them after you’ve bought them. So it’s important to take time, read and understand the term and conditions before you spend any money.

 

Scammers use high-pressure sales tactics to pressure you into buying something. Some high-pressure sales tactics are:

• • Limited-time offers, for example “This deal is only available today!” 

• • Emotional manipulation, using guilt, flattery or fear to pressure you. For example, “Don’t you want to give your family the best holidays?” 

• • Withholding information by not telling you the full costs, cancellation terms or long-term obligations. 

• • Overwhelming you by bombarding you with information to confuse you or wear you down. 

• • Not taking no for an answer by repeatedly pushing you after you’ve declined, or using guilt to make you reconsider. 

• • Pretending there’s a limited amount, for example “This is the last one, it’s now or never!” 

• • Pretending there’s competition and someone else wants to buy it. For example, “Someone else is about to this – act now!” 

These tactics are often used in any sales situation, it doesn’t necessarily mean it’s a scam but it’s a good indicator it might be. If anything makes you feel uncomfortable – step back and walk away. 

 

Investment fraud

Selling fake timeshares or holiday club memberships is a type of Investment Fraud. You can learn more about how to spot it, protect yourself and report it in our Investment Fraud Easy Read Easy-Read-Investment-Fraud.pdf 

 

Top tips to keep yourself safe from Investment or Purchase Fraud: 

• If it sounds too good to be true, it probably is. 

• Don’t rush to make a decision. If you feel confused, uncomfortable or pressured, take a step back and think about it. 

• Always research the company, you can do this by: 

• Checking their website is safe by using GetSafeOnline 

• Checking they are registered with the Financial Conduct Authority, this is a sign you can trust them. 

• Check to see if it is on the Financial Services Register, this is a sign you can trust them. 

• Check to see if it is on the warning list, if they are on this list you should NOT trust them. 

• Check reviews on Trustpilot by searching the name of the company 

• Search the company on Which? To see if there are any reviews or warnings 

 

Remember – if it sounds too good to be true, it probably is. 

 

For more advice about holiday scams: Stay safe and secure your summer – Cyber Scotland  

Or keep an eye on our social media as we share more top tips this summer.  

Follow us on Facebook , Instagram @leadscotland or LinkedIn. 

  

➡️Click for the next post in our #SecureSummer series

⬅️Click to go back to the first #SecureSummer overview post

 

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For organisations

Lead Scotland are committed to delivering high quality, accessible, and free digital skills and cyber training, especially to disabled people, carers, marginalised groups, and organisations that work with these groups. Let us know what you are interested in and we can organise a session (or more) to make sure you, or the people you support, are safe online. Register your interest in this online form.

Or get in touch for a chat by emailing us at cyberproject@lead.org.uk