Government Impostor Scams: Fraudsters Armed with SSNs Cold Call Victims and Coerce Them Into Buying Gold

Calls from scammers impersonating government officials are nothing new, but what would you do if the caller told you your Social Security Number had been associated with money laundering and other crimes?

The FTC has recently issued a consumer alert warning that fraudsters are impersonating the Social Security Administration and cold-calling victims to steal their money using a clever ruse.

Your SSN has been linked to serious crimes, and there’s an arrest warrant in your name. Moreover, you’re about to lose all the money in your financial accounts.

But here’s the thing. You can clear your name and protect your savings by purchasing gold.

Here’s how this scam scenario plays out, according to the FTC:

The caller says he’s a Social Security Administration agent with an urgent warning: Your name and Social Security number are linked to serious crimes like money laundering and drug trafficking.

You’re panicked when he says there’s an arrest warrant for you and the courts want to seize the money from your bank and retirement accounts. The only way to protect it, he claims, is to buy gold. The agent says he’ll send someone to pick it up and will keep it safe until he can clear your name of any wrongdoing.

The scammer tries to frighten you into panic mode, making it harder to think clearly. The goal is to rush you into making the wrong decision: head to your bank to withdraw cash or buy some gold and hand it over to a courier.

Here’s how to spot the scam:

• You receive an unsolicited phone call from an individual who claims to work for the Social Security Administration
• The fraudster might give you the name of a legitimate employee and even provide some personal information about you
• The caller threatens you with jail and extreme financial losses
• You are notified that your SSN is linked to fraudulent crimes
• You are advised to move your money or hand over cash or gold to a courier. This way, your financial assets will remain safe and until the agent helps clear your name

How to protect against this type of impersonation scam and protect your money and identity

• Scrutinize all unrequested phone calls that allegedly come from government agencies such as SSA or IRS
• Never send money or withdraw funds from your savings or other financial accounts to give to individuals who say they were from various government agencies, even if they insist and threaten you with the police
• Know that any call or message you receive from so-called government officials who use frightening language and threats or ask you to send money or buy gold ARE A SCAM
• Never give personal or financial information to individuals who call you out of the blue. Hang up and call the agency directly after researching the appropriate contact information
• Consider opting for a digital identity protection service or credit monitoring and identity theft protection (US only) to safeguard your identity and finances
• Use Bitdefender Scamio, our AI-powered scam detector, to fend off scams and government impostors from ruining your day. You can ask Scamio if a proposal, message, or QR code is a potential scam attempt.