PMMC warns public against activities of gold scammers

The PMMC has highlighted various modus the scammers use to target and extort their victims

The Precious Minerals and Marketing Company Limited (PMMC) is urging the public to be wary about the activities of some fraudsters in the gold trading business.

PMMC in a statement detailed the modus operandi of these criminals and appealed to the public especially persons in the extractive industry to be on the lookout for such persons.

The PMMC assured the public of its availability to provide guidance and expert advise to persons who wish to purchase gold.

Read the full statement:

PRESS RELEASE ON GOLD SCAMMERS

The general public is hereby cautioned to be warry of the activities of gold scammers, who present photos and videos of gold available for transaction, where they lure unsuspected victims to provide several amounts of money with the pretext of transporting the gold from the mining sites or specific locations to Accra for the said transactions.

After receiving the money, the scammers offer various excuses, while the products never arrive in Accra and it then becomes an unending cycle for the demand of more money and then leading to the failure to deliver.

Apart from this scheme, there are several others modus operandi in scamming victims in the gold business, and it is therefore imperative for buyers to look before they leap.

Sometimes, the scammers send some few grams or kilograms of gold, ostensibly to build confidence and trust in order to establish reliability of supply quantities, and once that is won, then the fraudsters would move in to demand for huge sums of money, after which they disappear and go into hibernation.

Precious Minerals and Marketing Company Limited (PMMC) is thereby advising the general public, particularly those interested in the purchase of gold to tread carefully so as not to fall prey to these elaborate fraudulent schemes. They are therefore recommended to communicate with PMMC for guidance for a genuine, safe, secured and scam-free purchases.

It is for this reason that prospective gold buyers are encouraged to do due diligence to ensure they are getting value for money and thereby reduce risk significantly.

For a smooth and ‘wahala’-free transaction, it is prudent to have an independent third-party verification to authenticate the gold through a scientific analysis which is known as assaying, and PMMC as the National Assayer has the requisite facilities and expertise to offer this service.

For the purpose of investors who are not in the country for the transaction, it is also recommended that they have trusted or reliable representatives in the country to oversee and supervise the transactions.

You can always contact PMMC via its website: www.pmmc.gov.gh or email through info@pmmc.gov.gh, or telephone 0302664931-4