Gold Plated Scams: How Retirees Are Losing Their Life Savings The NYPD's investigation into a massive gold bar scam has shed light on a sophisticated web of deceit targeting retirees' financial security.
The scope and sophistication of these attacks are alarming, with reported losses exceeding $100 million. At first glance, this scam may seem like another iteration of phone scams that plague inboxes.
However, the use of gold and precious metals as a lure is particularly insidious, tapping into retirees' long held perceptions of safety and security.