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New York warns of gold bar scam that steals savings from seniors
The attorney general said scammers took more than $100 million in the scheme over the past two years, using fake account breach alerts to push victims to buy gold and hand it over via couriers.
New York authorities are warning seniors about a gold bar scam that the state attorney general says has netted more than $100 million over the past two years. The scheme targets older adults with messages claiming their bank accounts or computers have been compromised, and it directs victims to take urgent action by buying gold bars or coins.
According to the state’s press release, the scam often begins with a fake pop-up message that includes a phone number to call. After victims make contact, scammers seek remote access to their computers, then have them deal with someone posing as law enforcement who says their accounts are at risk and instructs them to withdraw money and purchase gold.
The scam then escalates to physical collection, with scammers telling victims not to discuss the breach and sending couriers to pick up the gold. Guardian Business reports that New York Attorney General Letitia James said the targeting of older adults with claims about immediate danger is cruel, and she urged New Yorkers to report suspicious messages to her office.
The outlet also noted the scam is not limited to New York, with victims in Hawaii, Maine, Washington DC, and Wisconsin reporting similar tactics. In one described case, scammers targeted an 85-year-old man in Washington DC, and when he attempted to buy $200,000 in gold, a dealer recognized the scheme and alerted law enforcement, leading investigators to arrest the suspects when they arrived at the victim’s home.
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