Police in New York City have issued warnings about a rapidly spreading fraud scheme targeting older adults, involving fake alerts and fake law enforcement calls, which has already stolen over $100 million and now threatens wider reach.
New York City police are warning older adults about a fast-moving fraud that has already drained more than $100 million from victims and spread well beyond the city. Investigators say the scheme often begins with a fake Microsoft alert that claims a computer is infected, then escalates into a series of calls from people posing as law enforcement, federal officials or bank representatives who pressure victims into buying gold bars as a supposed way to protect their money.
Detective Emilio Gomez of the NYPD Financial Crimes Task Force said scammers use remote access software to take control of a victim’s computer once the person calls the number in the pop-up. That access can expose webcams, printers, audio and online banking, giving criminals a way to build fear and keep victims on the phone while the fraud continues. The NYPD says it has been working on the case since May 2024 with Homeland Security, the IRS and police agencies in other states.
The mechanics are often chillingly simple. A courier shows up at the victim’s home to collect the gold, while the victim stays on the line with a scammer who may be overseas but claims to be in the United States. Sometimes the caller gives a code name or number to make the exchange appear official. Sgt. Rashawn Vaughn of the NYPD said individual losses can be staggering, including one case involving $9 million and another worth $5.8 million.
Long Island authorities say the same scam has already reached neighbouring counties. Suffolk County police said they stopped one case that nearly cost an elderly woman $140,000 after a computer pop-up convinced her that her bank accounts had been compromised. Suffolk County District Attorney Ray Tierney has urged residents to treat any request to liquidate assets into gold as a scam, while police say callers often spoof phone numbers so that caller ID appears to come from law enforcement or the IRS. Local officials are now planning warning signs in gold shops and have proposed a 48-hour hold on first-time bullion purchases above $50,000.
Police and consumer protection officials say the warning signs are familiar: urgency, secrecy, threats and demands for payment in gold, cash or cryptocurrency. New York state consumer officials also caution that older adults are frequent targets because scammers assume they are easier to pressure. Authorities say anyone who sees a suspicious pop-up or receives a call like this should hang up, log off and contact their bank or local police before moving any money.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
