A scam targeting older Americans is turning one of the oldest symbols of financial security — gold — into a way for criminals to steal retirees’ savings.
The New York Police Department is investigating a scheme in which victims have collectively lost more than $100 million, according to ABC News
The investigation, which began in May 2024, involves the NYPD, the Department of Homeland Security, the IRS and law enforcement agencies in other states because authorities say the scheme is not limited to New York. Must Read – – Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here’s what it is and 3 simple steps to fix it ASAP – Millionaires under 43 hold only 25% of their wealth in stocks.
Here’s where their money is actually going And this isn’t just another phone scam asking for a few hundred dollars. Some victims have reportedly lost millions. The FBI has also been warning about similar “gold courier” scams and its 2024 Internet Crime Complaint Center report recorded 525 complaints involving gold and precious-metals courier schemes, with reported losses totaling $219 million nationwide.