If you get a call from someone claiming to be a government official—perhaps from the FBI, IRS, or even a made-up “Federal Fraud Protection Agency”—and they urgently direct you to purchase gold bars as part of an investigation or debt repayment, hang up immediately. You’re not speaking to the government—you’re speaking to a scammer.
🚨 The Scam Setup
This scheme typically follows a formula:
- You’re told your identity has been compromised, or you’re involved in a serious legal matter.
- To “protect your assets” or “prove your innocence,” you’re instructed to buy gold bars.
- Scammers sometimes arrange fake pickup services or tell you to store the gold in a “secure location.”
- In extreme cases, they impersonate law enforcement and threaten arrest.
These cons are high-pressure, manipulative, and incredibly costly—victims have lost tens of thousands of dollars.
🕵️ Why Gold?
Gold is physical, high-value, and hard to trace. Once handed over, it’s nearly impossible to recover. Scammers favor it because:
- It’s untraceable compared to bank transactions.
- Victims perceive it as “safe,” which lowers resistance.
- It feels like a legitimate government directive—especially when combined with badge numbers and urgent legal jargon.
🧠 Think Critically—Here’s What to Remember:
- The government will never instruct anyone to buy gold bars—for any reason.
- Real agencies do not resolve legal disputes, identity theft, or investigations through precious metals.
- If you’re being told to keep something secret, it’s probably a scam.
- Always verify by contacting the agency directly using official numbers, not numbers provided by the caller.
✋ Spot. Report. Stop.
If you or someone you know encounters this scam:
- Report it to the FTC at reportfraud.ftc.gov
- File a complaint with the Internet Crime Complaint Center (IC3) at ic3.gov
- Share this story on DailyScamWatch to alert others—it could save someone’s life savings.