Montgomery County police are using World Elder Abuse Awareness Day to alert seniors about a growing scam involving gold bars.
Have you been contacted by someone claiming to be a federal agent asking you to buy and hand over gold bars? It’s a scam.
Scammers often reach out through pop-up ads, phishing texts, or emails pretending to be from your bank or another financial institution. They claim your accounts have been compromised and connect you with someone posing as a federal official.
“They convince the victim they’re helping them,” said Montgomery County Detective Sean Petty, who spoke at the Older Adult Safety Forum held Tuesday in Silver Spring.
Victims are often told to withdraw large sums of money and convert it into gold bars, which they are then instructed to deliver to a so-called “courier” — usually in a public spot like a grocery store parking lot. Scammers may even provide a code word to make the exchange seem legitimate. But these couriers are never in uniform or in official vehicles, Petty said.
“The victims believe they’re protecting their assets, but they’re actually being defrauded — often losing their entire life savings,” he explained.
Recovering the stolen money is extremely difficult.
Authorities say multiple seniors are reporting being victimized by similar scams every week. In March, a man in California was convicted of stealing nearly $800,000 from a Montgomery County woman. Another senior lost $900,000 in a similar scheme last May.
Montgomery County State’s Attorney John McCarthy offered advice to help seniors avoid falling victim: “If you see a number you don’t recognize, don’t answer. And avoid clicking on pop-up ads — they can lead you down a dangerous path online.”
