Frauds that deceive consumers to invest in gold rises

The gold bar fraud appears to be a trick that no one can fall for. The fraud includes victims, usually the elderly, and they drown their lives in gold, silver, or other precious metals to protect their origins after being convinced by an artist who deceives.

If the fraudsters gain your confidence, then advice like investing in gold – a precious metal is usually a proper investment in Economic uncertainty times – It can look like a good idea. Only once the gold bars are given to the deceptive to save them, do not hear from them again.

Gold tape tricks rise. The FBI warned for the first time against An increase in these fraud in January 2024, but its popularity has grown.

the The FBI issued another warning Last summer, a warning specifically from the population in Sarasota Province, Florida, amid complaints that fraud in the gold bar was deceived by the elderly of more than $ 300,000. random Cases continued to appear During the end of 2024, this year, Gold Bar Rusted Rusted Ins Portland, OregonAnd New York.

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What is the gold bar fraud process?

Fraud operations are generally working on the gold bar like this: The bad actor will encourage a detailed back and impersonate the personality of a government official, perhaps from the FBI or the Treasury, to persuade someone that their money is not safe in the bank.

The criminal will urge the victim to remove their money from Savings account And invest it with gold. If listening, they will find either a local golden trader or Request it via the Internet. After that, he will meet the victim, who thinks, as a courier device, will take gold, and promised to hand it over to a safer site. They may even give the victim. However, the fast mail will escape with gold instead.

Why do criminals turn into gold bar fraud?

The fraudsters recently focused on several reasons: Gold is a valuable commodity and is difficult to track. It is also easier to reach people from the bank security system.

Technology and bank companies have made it difficult for consumers’ accounts to obtain or penetrate viruses, according to Robert Ceciliano, security analyst and identity theft privacy: security protection and fraud protection.

“Information security is the best of all, and the most effective way to circumvent all this security is, of course, human penetration,” Ceciliano said.

Gold has a reputation for being valuable

Like how other investment vehicles can fluctuate in price, So it can also be gold. However, criminals know There are money that you must prevent from gold.

“With the rise of gold (selling), which reaches $ 3,000 an ounce, it was never more attractive to the deceptions to intensify and engage in the target of the target guns and the target population with this special trick,” Ceciliano said.

He added that 98 % of people will not be absorbed to speak with an artist who is deceived about converting their money into gold, but if 2 % of the targeted people speak to a deception, this is all required so that this is a profitable fraud.

People trust gold

People do not always trust the economy, but they tend to trust gold.

“Since the value of assets like precious minerals, such as gold, face a rapid increase in value and attracts widespread attention, the fraudsters will jump in this direction and use it in their favor,” said Darius Kingsley, Managing Director and Head of Banking Practices for consumers at JPMorgan Chase. “Gold is often searched as a hedge against economic instability or inflation.”

Gold is mainly impossible to follow

Gold bars contain serial numbers, but it is impossible to know where the metal arose from one time. While if you are a criminal trying to sell stolen artwork or a car, if you catch the police, it is relatively easy to apply the law to determine something that happens.

Gold has strength on our imagination

At school, I learned about R.It is the gold rush in 1849. If you are a fan of James Bond, you may be aware of the Goldfinger movie and how the villain planned to steal gold from Fort Knox. TV ads often pay gold as a sound and safe investment.

If a criminal convince you that Your bank account is not safeIt makes sense that they suggest gold instead of persuading someone to invest his life savings Rhodium. Gold is familiar and appears to be a logical investment.

How to avoid gold bar fraud

It is important to remember that if someone gives unwanted advice on getting your money out of your bank and putting it elsewhere, you should be careful. A government official is unlikely to give you any such advice. Pay attention to your intuition. If you feel that something might be suspended, it is likely to be.

If your reliable participant raises concerns about the legitimacy of your withdrawal, listen to them. They have been trained to monitor suspicious transactions. Although they cannot prevent you from withdrawing your money, they can tell you whether the reasons behind the clouds are strange.

If you take out your money, the banks and credit federations will not be able to recover the money, according to Jennifer Halinbeck, the manager of assembly and fraud in Wasatch Pix credit Union.

What do you do if you fall to the gold bar fraud

Unfortunately, it is unlikely to recover lost money with this type of fraud. However, this does not mean that there is nothing you can do.

Immediately call the police. If you have met a courier or got an hour to go from your home, the thief may still be in the area or there may be evidence that the police can collect it.

Contact your bank. Although the bank you are dealing with is not required to pay you if you take out the money yourself, allowing them to know the fraud can help them increase awareness. Now, if your bank is stolen, whether by a convincing gunman or Cyberhaacker, you will regain your money. For this reason banks The believer is the believer And theft of such a customer’s mistake. But in the case of the gold bar fraud, you were deceived to become a thief.

Hallenbeck said it is still good to contact your bank or credit union if you have been deceived. They usually submit a report to the FBI on behalf of their members. The bank can also take additional precautions such as freezing your account or setting an alert to it to prevent future fraud.

Call these government agencies. the Federal Trade Committee He always wants to hear from people who are victims of fraud. Federal Bureau of Investigation Online crime complaints center It is also an excellent resource, and they may want, with the police, to participate in your case. for you State Prosecutor Office We are likely to be able to hear your situation.

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