Be wary of receiving phone calls, emails, or text messages from people claiming to work for the US Federal Trade Commission (FTC) – chances are it's a scam.
This warning was issued by the FTC itself earlier this week, warning Americans about an ongoing fraud campaign that aims to steal their hard-earned money. beepcomputer reports.
In the warning, the FTC said it received countless reports from people who fell victim to these scams.
Steal gold bars from people.
“The FTC will never tell consumers to move their money to 'protect' it. The FTC will never send consumers to a Bitcoin ATM, tell them to go buy gold bars, or require them to withdraw cash and take it to someone in person. Nor will you ever contact consumers to demand money, threaten them with arrest or deportation, or promise them a prize,” the agency said.
“In light of growing complaints about phishing fraud, the FTC recently announced that it has finalized the Government and Business Impersonation Rule, giving the agency stronger tools to fight fraudsters and return money to consumers harmed by imitators.
Since the FTC mentioned purchasing gold bars or giving cash to someone in person, this warning is likely related to the one the FBI sent out in late January of this year. Back then, the law enforcement agency warned about fake “tech support” agents who claimed to work for the US government and told their victims, mostly elderly people, that their accounts were being “ attacked.”
To “secure” their funds, they were recommended to purchase gold bars, after which the scammers would send couriers to collect them and keep them “safe.”
The average financial loss in this scheme, BleepingComputer further reported, increased over the past five years, from $3,000 in 2019 to $7,000 in 2024. Additionally, the FBI received more than 14,000 reports of people impersonating the government on just last year. Most of the victims were elderly.
