Watch Out For Gold Bar Scam, South Dakota!

South Dakota residents are being warned about a dangerous new fraud trend known as the “Gold Bar Scam”!

Officials say scammers are targeting people through phone calls, text messages, emails, and even fake computer pop-up alerts.

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The scam often begins with criminals pretending to be federal agents, bank investigators, or local law enforcement officers.

Victims are told their bank accounts, Social Security numbers, or retirement savings have been compromised by hackers or identity thieves.

The scammers then pressure people into withdrawing money from their bank accounts and purchasing gold bars or other precious metals to “protect” their savings.

Once the gold is purchased, victims are instructed to hand it over to a courier, mail it to a secure location, or keep the transaction secret from family members and bank employees.

After the gold is delivered, the scammers disappear and recovering the money is almost impossible.

Authorities across the country say older adults are frequently targeted, but anyone can become a victim.

Officials stress that legitimate government agencies, banks, and police departments will never ask citizens to buy gold, cryptocurrency, or gift cards for financial protection.

South Dakotans are encouraged to be cautious of urgent requests involving money or valuables.

If you receive a suspicious call or message, hang up immediately and contact your bank or local law enforcement using official phone numbers.