Scammers target seniors, steal $100M through gold bar scheme

NYPD's Financial Crimes Task Force is currently investigating.

NEW YORK -- New York City Police Department's Financial Crimes Task Force is warning seniors about a scam involving gold bars that they're currently investigating.

It involves a computer pop-up claiming to be from Microsoft saying that their computer is infected with a virus and they need to call a number to get it unlocked.

After calling, victims unwittingly give scammers access to their computer and bank accounts, prompting more fake calls from scammers pretending to be from the U.S. Treasury Department or police themselves, requesting payment in the form of gold bars to protect their money.

"In this process, the victims get coerced to provide remote access to the computers, allowing these perpetrators to gain control," said Detective Emilio Gomez, NYPD Financial Crimes Task Force, Cybersquad. "When I'm in control, it means that they have access to your webcam, your printer, your audio and your computer."

NYPD said it has been investigating the case since May 2024, along with Homeland Security, the IRS and police from other states, as this is a nationwide issue, not just targeting New York.

Oftentimes, a courier will show up to a victim's home to collect the gold bars, while both parties talk on the phone to a scammer - usually someone based in Asia - pretending to be based on U.S. soil.

The callers give a code name or number, further convincing some victims that the gold bar handoff is legitimate.

"We want as many victims to come forward as possible so we could try and eliminate this this problem across the United States, not only including New York City," said Sgt. Rashawn Vaughn with the NYPD Financial Crimes Task Force. "The amount of money they're getting from some of these victims is very, very staggering, $9 million on one shot, $5.8 million in another case."

Police have recovered some gold bars during search warrant busts and are hoping to use the money from them to pay percentages of restitution to New York victims.

So far, they believe there are hundreds of victims, with losses exceeding $100 million.

Experts say if you receive calls or computer messages like this, hang up, log off and don't engage.

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