New York authorities warn about gold bar scam targeting older adults
New York authorities have issued a warning regarding a widespread scam where criminals convince older adults to convert their life savings into gold bars to 'protect' them from compromised accounts. The scheme has resulted in over $100 million in losses across multiple US states.
Why it matters
Highlights a growing financial threat targeting vulnerable populations that requires increased public awareness.
The scheme reportedly involves convincing victims their bank accounts have been compromised and to protect their money they must buy gold bars./Getty Images The scheme reportedly involves convincing victims their bank accounts have been compromised and to protect their money they must buy gold bars./Getty Images New York New York authorities warn about gold bar scam targeting older adults State’s attorney general says scammers have made off with more than $100m in past two years
Prefer the Guardian on Google Scammers in New York have been using gold bars to steal money from victims, primarily older adults, and made off with more than $100m over the past two years, the state’s attorney general announced on Friday.
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