New York police have issued a warning about a sophisticated gold bullion scam that has reportedly cost hundreds of victims more than $100 million.
The scheme typically begins with a fake computer alert or message claiming that the victim’s device has been infected with a virus or that their financial accounts are at risk. Scammers then contact the victim while posing as government officials, Treasury representatives or police officers.
Victims are pressured into withdrawing large sums of money and converting the funds into gold bars. The scammers then arrange for the bullion to be collected, claiming that the transfer is necessary to protect the victim’s savings or assist with an official investigation.
Authorities said legitimate government agencies and law-enforcement officers will never ask people to purchase gold, withdraw cash or hand over valuables for safekeeping.
Police are urging residents, particularly older adults and their families, to treat unsolicited warnings with caution, avoid sharing financial information and immediately report suspicious calls or messages.
