Idaho Sees Uptick in Physical Gold and Precious Metal Scams

Thursday May 16, 2024

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.

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