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Idaho Sees Uptick in Physical Gold and Precious Metal Scams
Boise, Idaho… The Idaho Department of Finance (IDOF) is warning the public against scams that involve the physical purchase and delivery of gold and other precious metals. Illicit actors trick victims into believing that either their identity, computer, or financial account(s) have been compromised. Once an illicit actor convinces the victim that they are involved in a criminal situation, the victims are then directed to purchase physical gold or precious metals to protect their assets.
The victims are then told to deliver the gold/precious metals to couriers posing as either government officials, financial professionals, or tech support staff. The couriers take possession of the gold/precious metals on behalf of the illicit actors and transport them to complete the scam.
According to a recent Federal Bureau of Investigation (FBI) announcement, victims lost over $55 million during the last eight months of 2023 to scams involving cash and precious metal couriers.1 Many of the victims are seniors who are told by scammers that they will safeguard their funds when in reality they are stealing their funds.2 Idahoans are encouraged to be vigilant and to look for the following red flags pertaining to these scams: