R.O.S.E., Resources/Outreach to Safeguard the Elderly
Imagine a message suddenly appears on your computer warning that your bank account has been compromised. After you click the warning, a “technician” appears and tells you that criminals have access to your money. Then a “law enforcement officer” gets involved and tells you there is only one way to protect your life savings: withdraw your money and buy gold.
It sounds outrageous. But it is happening at an alarming rate.
The New York Attorney General recently warned about a growing scam targeting older adults. According to the warning, the New York City Police Department has investigated more than 100 gold bar scam cases over the past two years, with losses exceeding $100 million.
Here’s how the scam works. It often begins with unexpected contact, like a fake computer pop-up claiming your computer or financial accounts have been compromised. The criminal stokes your fear and convinces you to give them remote access to help you. Then they create fake evidence suggesting your accounts have been hacked.
Next comes the pressure. You may be told to withdraw your savings, purchase gold bars or coins from a legitimate dealer, and turn the gold over to a “government investigator” or courier for safekeeping. You may even be told not to tell your bank, family, or anyone else. The results can be emotionally and financially devastating.
Here are a couple of tips that can help protect you from this type of scam.
* Never call a phone number displayed in a pop-up, text, or email.
* Never give an unknown person remote access to your computer.
* Never move your money because someone contacted you unexpectedly.
No legitimate government agency or law enforcement officer will tell you to buy gold and hand it over to protect your money.
If someone tells you that your savings are in immediate danger, stop. Hang up. Don’t act. Contact your bank using the phone number on your statement or bank card, and tell someone you trust what happened.
Scammers want you frightened, isolated, and acting quickly. Your best defense is to slow down, hang up, and talk to someone you trust.
R.O.S.E. seeks to create change by educating and providing awareness of financial scams that typically target the older adult population, with a focus on those age 60 and over. For more information and resources, visit www.roseadvocacy.org, email us at info@roseadvocacy.org, or call us at
602-445-7673.