Scammers have cashed in on the rich mineral resource of Ghana to dupe unsuspecting people.
How it works
Gold scam usually starts with the fraudster making contact either through telephone or e-mail offering to sell gold to the potential victim at a reduced price below world market price.
The fraudster convinces the victim of owning a gold concession and associated to or a relative to a popular and influential person. This is to persuade the victim that they are capable of delivering large quantity of gold.
Scammers further convince prospective victims by offering a small sample (less than 10kg) of the gold for assaying which would prove 92% purity. The small sample is usually used to convince the victim that it is a collateral if the victim wants large quantities. The scammers create a website to make their operations look genuine.
Once convinced, payments are demanded for the small sample of gold. Victim is given the “gold” in a box and is expected to open once the fraudster receives payment but often turns to be iron bars or ordinary metal plated with gold.
Things to Know
Gold is not sold by individuals on the open market.
Mineral resources are not sold on the internet and neither through telephone calls.
Find out more about gold transaction from relevant institutions such as the Precious Minerals Marketing Corporation (PMMC).
Be cautious, check and verify information before parting with money.