The Idaho Department of Finance (IDOF) warns the public about scams involving the purchase and delivery of gold and precious metals. Scammers are tricking victims into believing their identity or financial accounts are compromised, leading them to buy and deliver gold or precious metals under false pretenses.
These scams typically involve fraudsters convincing victims that they are part of a criminal situation. Victims are instructed to purchase physical gold or precious metals to protect their assets and then deliver these items to couriers posing as government officials or financial professionals. The couriers, working on behalf of the scammers, take possession of the gold and complete the scam.
According to the Federal Bureau of Investigation (FBI), victims lost over $55 million to scams involving cash and precious metal couriers in the last eight months of 2023. Many victims, especially seniors, are lured into thinking their funds will be safeguarded when, in reality, they are being stolen.
Red Flags to Watch For
Idahoans should stay alert and look out for the following warning signs:
- Unsolicited messages claiming you’ve been hacked or calls from unknown government officials alleging you are involved in a crime.
- Instructions to convert assets into gold or precious metals for protection or as part of a government probe.
- Frequent contact from a new acquaintance urging you to buy gold and meet a courier.
- Requests to confirm the delivery using a passcode.
- Assurances from supposed professionals that your assets will be safeguarded in a secure account.
Tips to Avoid Falling Victim
To protect yourself, IDOF recommends:
- Being wary of anyone claiming to be from the U.S. Government or a reputable business instructing you to purchase gold or precious metals for safety.
- Avoiding sharing personal information with unknown individuals through phone, text, or the internet.
- Steering clear of unsolicited pop-ups, text message links, or email attachments.
- Not contacting unknown numbers from pop-ups, texts, or emails.
- Never granting unknown individuals access to your computer or downloading software from unfamiliar sources.
“Idahoans should approach individuals requesting the purchase of physical gold or precious metals with skepticism,” stated IDOF Director Patricia Perkins. “These scams are orchestrated by skilled illicit actors and criminal groups, so it’s crucial for Idahoans to be vigilant and take necessary steps to safeguard themselves.”
If you suspect you’ve fallen victim to or encountered a potential gold or precious metal scam, report it to the IDOF Securities Bureau, local authorities, and the FBI’s Internet Crimes Complaint Center (IC3).
For additional information, visit the FBI’s Internet Crime Complaint Center at ic3.gov
Insight:
Additional insight can be provided by detailing the methods scammers use to manipulate victims into believing they are in a precarious situation, highlighting the emotional manipulation and fear tactics employed to convince individuals to take drastic actions like purchasing and delivering gold or precious metals. Moreover, emphasizing the importance of educating vulnerable demographics, like seniors, about these types of scams can help mitigate the financial losses incurred. By shedding light on the sophistication of these illicit actors and organized crime groups, individuals can better understand the need for caution and vigilance in protecting themselves from such scams.
