9 hours Ago By Brijiena Lovelace
GettyAN elderly woman was swindled out of more than half a million dollars in a devastating gold scam.Scammers claiming to be law enforcement carried out the sophisticated scheme, which is now under further investigation with Clark County Sherrif’s Office.gettyThe elaborate scam starts with a phone call[/caption]The woman in her 70s, who lives in Clark County, Washington, was tricked into believing she needed to safeguard her money from fraud associated with her social security number.
Posing as members of the Federal Office of Inspector General, the scam took place over several months.Eventually, the woman was convinced to withdraw over $500,000 from her bank and purchase ‘valuable’ gold coinsIt was then shared that the money needed to be safeguarded by an “undercover agent,” and would soon be returned.Unfortunately, the money was never seen again.
These scams are becoming increasingly popular due to the high price of gold and the lower price, currently of the dollar. ONGOING TROUBLEThis case follows a nearly identical scam in Portland, Oregon.Another elderly victim was deceived into handing over gold bars worth hundreds of thousands of dollars.
Now, authorities are investigating further, as they believe the crimes may be linked.Expert Tips: Crypto Scam Red FlagsScam expert Toby Braun, the managing partner for American Special Investigative Group and Heroya Cryptocurrency Investigations spoke exclusively to The U.S.
Sun about the warning signs of crypto scams.Beware of a “Crypto trading platform, service or fund offering unusually high returns,” he said as these “are more than likely a scam.”Individuals who still go ahead with the investment should ensure that “professional due diligence” is carried out regarding the individual or platform.
His second tip is to “refrain from responding to personal solicitations involving cryptocurrency from an unknown source.”This can be via any social media platform, emails, text messages, or WhatsApp.The third red flag is being approached by people who seem to be overly friendly.
“Many scammers use deepfake technology to pretend to be someone on dating sites they are not,” Braun said.“Once the scammers connect with their unbeknown victim who is often just looking for a real connection, they flatter them before sharing how much money they are making with crypto. “The victim is then lured into making substantial investments, and deposit funds they’ll never see again.
”Similarly, the expert warned people away from engaging with strangers or people they have just met if they are asking for money or encouraging them to invest.Lastly, “be aware of anything that simply sounds too good to be true. It generally never is,” he added.
Clark County’s Sheriff’s Office has launched an investigation into the scam, warning that fraudsters are becoming more sophisticated.Both scams share a common pattern: the victims were contacted by someone impersonating an official and pressured into believing their assets were at risk.Officials are urging residents to stay vigilant and verify any suspicious calls.
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