New York Officials Flag Rise in Gold Bar Fraud Targeting Older Residents

New York's attorney general issued a public alert

New York's attorney general issued a public alert on Friday, revealing that fraudulent schemes involving gold bars have drained over $100 million from victims—many of them elderly—within the past two years.

The scams typically begin with a deceptive pop-up message warning that a computer or bank account has been breached. The message urges the recipient to call a provided number, where a fake technician or official persuades them to grant remote access to their device, thereby exposing online banking credentials.

Once in control, the fraudsters transfer funds or instruct victims to withdraw cash and purchase gold bars, claiming it's necessary to protect their assets. They then arrange for couriers to collect the gold, often from the victims' homes, or direct them to mail it to untraceable addresses.

Officials emphasize that no legitimate government agency…

Officials emphasize that no legitimate government agency or financial institution would ever demand such purchases or request remote access to a device. They advise anyone receiving such a message to hang up, avoid clicking any links, and report the incident to local authorities or the state's consumer protection hotline.

The attorney general's office is urging family members to discuss these schemes with older relatives, as early detection is key to preventing financial ruin. Authorities are also coordinating with banks and precious metal dealers to flag suspicious transactions, but they stress that public awareness remains the most effective defense.

Residents who suspect they've been targeted can file a complaint online or by phone, and officials promise a swift review of each case. With losses mounting, the state is calling for increased vigilance from all New Yorkers to curb this growing threat.