A Well-Known Scam Strikes Again: Gold Coins Worth 280,000 Euros Gone

The Course of Events

The crime took place in Germany – in Wöllstadt, Hesse to be precise. On the afternoon of 12 February, a senior citizen’s telephone rang. The man on the line claimed to be an inspector from the local police, but was in fact a fraudster. He told the man a story that we know from previous fraud cases. He said that a burglary had occurred in the neighbourhood. The perpetrator had been caught, but he had a piece of paper with the address and details of the senior citizen. That is why the self-proclaimed investigator wanted to inform him that the ‘police’ are concerned that he might be the next victim in a series of burglaries. Over the course of several phone calls, the scammer gained the victim’s trust and asked for any assets that could be handed over to the police for safekeeping, as they might not be safe in the house at the time. It turned out that the man had over 100 gold coins. Although they were safely stored in a safe deposit box at a bank, the scammer managed to persuade his victim to remove the coins. In similar cases, callers claimed that bank employees were corrupt and would collaborate with burglars. The next day, as agreed over the phone, a so-called ‘police officer’ in plain clothes rang the victim’s doorbell. The victim handed over the coins. Since then, neither the perpetrator nor the coins have been seen again.

No Isolated Case

Unfortunately, such schemes have been going on for years in Germany and around the world, and repeatedly turn out successful. The perpetrators usually target elderly people, and the scam calls often come from Turkey. Scammers work with online versions of telephone directories, looking for entries with first names that are likely to be that of an older person.

Every year, tens of thousands of scam calls are made in Germany using this and similar schemes. In 2022, fraudsters stole more than 18 million euros in Bavaria alone, 4.5 million euros in Lower Saxony, 2.3 million euros in Berlin, 2.1 million euros in Hamburg and 1.2 million euros in Schleswig-Holstein.

The scammers use fear and pressure to get what they want (“If you refuse to cooperate, you are guilty of obstructing a police investigation!” – “You are legally obliged to cooperate!” – “Don’t tell anyone about this!” – “Don’t contact your local police, we are conducting an internal investigation and it seems they are all corrupt!”). In addition, ‘call ID spoofing’ is used to display a false number on the victim’s phone. This is often the number of the local police or emergency assistance (like 110 in Germany, 112 in the EU or 999 in the UK).

How Can You Protect Yourself And Others?

The German police have produced a leaflet with tips on how to protect yourself. The police of other countries give similar advice, in case of doubt make sure to contact your local police.

• The police will never ask you for money or ask you to hand over money or valuables.
• The police will never call you from the emergency number (110 in Germany). Only scammers do that. If you are unsure, dial the emergency number. But do not use the call-back button as you may end up on the phone with the scammers again.
• You can also contact your local police station. Tell the officers about the calls. It is best to have the number of your local police station and the emergency number handy so that you can dial it yourself in case of doubt.
• Do not give any information about your personal or financial circumstances or any other sensitive information over the phone.
• Do not give in to pressure on the phone. Do not give fraudsters a chance – just hang up! This is the only way to get rid of scammers. This is not rude!
• Do not open the door to anyone you do not know. If necessary, call someone you trust, such as a neighbour or a close relative, to assist you.
• Do not give money or valuables to people you do not know.

Hang up the phone if…

• you are not sure who is calling.
• the caller asks you for personal information or your financial situation, such as whether you have cash, jewellery or other valuables in your home.
• the caller asks you to hand over cash, jewellery or other valuables, or to transfer money, especially abroad.
• the caller puts you under pressure.
• the caller asks you to contact someone you do not know, such as a courier to collect your money and valuables.