PUBLIC SERVICE ANNOUNCEMENT GOLD BAR SCAMS ARE SURGING - Protecting Seniors • Protecting Customers • Protecting the Industry

• By: admin
• On: 09/02/2026 15:03:56
• In: PNG News
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The FBI and FTC have warned about these schemes. Legitimate government agencies do not instruct consumers to buy gold bars to protect their       money.

THE GOLD DEALER MAY BE THE LAST LINE OF DEFENSE

A dealer may be the last person with an opportunity to recognize that a customer is being victimized before hundreds of thousands of dollars—or an entire lifetime of savings—leave the victim's possession.

The question is not simply whether the customer can afford the purchase. The question is: WHY IS THE CUSTOMER BUYING THE GOLD?

DEALERS: ASK THE QUESTIONS

Dealers should consider establishing procedures requiring employees to have a meaningful conversation with customers making unusually large precious-metal purchases, especially when the transaction is inconsistent with prior purchasing history or circumstances.

• Why are you purchasing this amount of gold today?
• Did someone contact you and tell you to purchase gold?
• Did a bank employee, police officer, FBI agent, IRS employee, government official, or other law-enforcement representative tell you to buy gold?
• Has anyone told you that your money or bank account is compromised?
• Has anyone told you to convert your savings, retirement funds, or investments into gold to “protect” your money?
• Has anyone instructed you not to tell your spouse, children, financial advisor, bank, attorney, or anyone else?
• Has anyone told you that a courier will come to your home or another location to pick up the gold?
• Are you currently on the telephone with someone while making this purchase?
• Has anyone told you that you are involved in a criminal investigation or could be arrested unless you follow instructions?

IF THE ANSWER TO ANY OF THESE QUESTIONS IS “YES”—STOP AND INVESTIGATE.
The customer may be the victim of an active fraud. Do not assume the transaction is legitimate simply because the customer insists that it is.

NCIC DEALER QUESTIONNAIRE

The Numismatic Crime Information Center (NCIC) has developed a questionnaire for dealers to use when customers are purchasing substantial quantities of gold or other precious metals. The objective is simple: identify the victim before the gold leaves the store.

The questionnaire is intended to help dealers recognize behavioral and transactional indicators that may otherwise be missed during a large purchase and to encourage proactive fraud prevention.

Dealers should contact NCIC for the current questionnaire and guidance on implementation.
Numismatic Crime Information Center • 817-723-7231 • www.numismaticcrimes.org

DEALER LIABILITY: IGNORING RED FLAGS CREATES RISK

This warning does not mean that a dealer is automatically responsible for every fraud committed against a customer. A dealer cannot know everything occurring outside the store.

However, the legal and regulatory environment surrounding elder financial exploitation is changing. Recent litigation has alleged that financial institutions and precious metal dealers failed to recognize or respond appropriately to warning signs. That creates potential litigation, regulatory, reputational, and insurance exposure.

After a loss, plaintiffs, attorneys, regulators, insurers, or law enforcement may ask: What did the dealer know? What warning signs were present? Did anyone ask why the customer was buying the gold? What procedures were in place? What did the dealer do when red flags appeared?

A documented, good-faith fraud-prevention program can help demonstrate that a dealer took reasonable steps to protect customers and respond to suspicious circumstances. Dealers should consult qualified counsel regarding applicable laws and their specific procedures.

RED FLAGS EVERY DEALER SHOULD RECOGNIZE

• Customer appears frightened, anxious, confused, or unusually secretive.
• Customer insists the transaction must occur immediately.
• Customer says someone is waiting for the gold.
• Customer remains on a telephone call throughout the transaction.
• Customer says they have been instructed not to tell anyone.
• Customer says they are under investigation or their bank account, identity, or computer has been compromised.
• Customer says the gold is being purchased to “protect” money.
• Large purchases are inconsistent with the customer's prior activity.
• Multiple purchases occur over a short period or at several dealers.
• Customer is withdrawing retirement funds or large bank balances.
• Someone other than the purchaser is arranging pickup.
• Customer has been given a “code,” “case number,” or password for a courier.
• Customer is instructed to surrender the gold to someone claiming to be a government agent, bank employee, orlaw-enforcement officer.

WHAT DEALERS SHOULD CONSIDER DOING

• Train every employee. The employee taking the order may be the person who saves a customer's life savings.
• Use a large-transaction questionnaire. Build a written fraud-screening process for significant gold and precious-metal purchases.
• Create a second-look procedure. For unusually large transactions, consider a manager or second trained employee review, consistent with applicable law and company policy.
• Independently verify government claims. Never rely solely on a telephone number or contact information supplied bya caller.
• Encourage a trusted-person check. When appropriate, encourage the customer to speak with a spouse, family member, attorney, financial advisor, or other trusted person.
• Document your actions. Keep appropriate records of questions asked, responses, and steps taken, subject to legal and privacy requirements.
• Establish a law-enforcement contact plan. Know who to call when a customer appears to be the victim of active fraud.• Report suspected fraud. When appropriate, promptly notify law enforcement and relevant fraud-reporting authorities.

THE GOLD IS NOT BEING “PROTECTED”

NO GOVERNMENT AGENCY WILL ASK YOU TO BUY GOLD TO PROTECT YOUR MONEY.

• The FBI will not tell you to purchase gold bars.
• The IRS will not tell you to purchase gold bars.
• The FTC will not tell you to purchase gold bars.
• A legitimate law-enforcement officer will not instruct you to purchase gold and surrender it to a stranger.
• A legitimate government representative will not require you to keep the transaction secret from your family.

If someone tells you to buy gold to protect your money, stop. Hang up. Talk to someone you trust. Independently verify the story.

FAMILY MEMBERS: TALK TO YOUR LOVED ONES NOW

Families should discuss this scam before criminals make contact. Tell older relatives and other vulnerable adults:

• NO government agent will ask you to buy gold.
• NO legitimate investigator will ask you to secretly move your money.
• NO legitimate agency will tell you not to speak with your family.
• NO legitimate bank employee will tell you to hand your gold to a courier.
• Caller ID does not prove who is calling.
• A badge, name, case number, or government identification does not prove the caller is legitimate.

HANG UP • STOP • TALK TO SOMEONE YOU TRUST • VERIFY THE STORY

DEALERS CAN MAKE A DIFFERENCE

The criminal may spend days or weeks manipulating a victim. The dealer may have 30 minutes to recognize the fraud. That 30 minutes can mean the difference between a catastrophic loss and a customer's life savings being protected.

The objective is not to prevent legitimate people from buying gold. The objective is to prevent criminals from using legitimate businesses as the final step in the theft of an innocent person's life savings.

ASK QUESTIONS. RECOGNIZE THE RED FLAGS. SLOW THE TRANSACTION WHEN
APPROPRIATE. CONTACT LAW ENFORCEMENT WHEN NECESSARY. PROTECT THE CUSTOMER. PROTECT YOUR BUSINESS.

NUMISMATIC CRIME INFORMATION CENTER Targeting Numismatic Crime Around the World 817-723-7231 www.numismaticcrimes.org Dealers and law-enforcement agencies are encouraged to contact NCIC regarding gold-bar scams, suspected victimization, dealer education, and fraud-prevention resources.

Educational and crime-prevention notice: This PSA is not legal advice and does not establish legal obligations for any particular dealer, financial institution, or individual. Dealers should consult qualified counsel concerning federal, state, and local laws, privacy requirements, reporting obligations, record retention, and appropriate fraud-prevention procedures.
Sources: Federal Bureau of Investigation; Federal Trade Commission; U.S. Department of Justice; IRS Criminal Investigation; Numismatic Crime Information Center.