Beware of the Gold Scam: Fraudulent ‘Federal Treasury Commission’ Targets SE Wisconsin Residents

DECEMBER 15, 2023 BY CAL STOFFEL

A new scam has popped up in southeast Wisconsin. A number of people have reported being contacted by the FTC, “Federal Treasury Commission,” or “Treasury Agents.” The scammers convinced them to buy physical gold and ship the gold via courier. The agents promised that if the people wanted their money back it would be returned at anytime. The agents also told the victims not to tell anyone else, including local law enforcement. Over $500,000 has been obtained from two victims in SE Wisconsin over the past month.

This may seem far-fetched but the scam works. There is no such agency as the “Federal Treasury Commission” and a treasury agent will never call you and ask you to send gold or other physical money. If you receive a similar call, talk to a family member or call the police for advice.

We ask that you share this with your friends, family, and neighbors. If you have family members, friends, or neighbors that infrequently use the internet, please talk to them about this and other scams. As a reminder, no legitimate business, utility, or government agency will every require payment with physical gold, iTunes gift cards, or other unconventional payment methods.