Protect Yourself from Fraud – What You Need to Know Before Buying or Selling Precious Metals

Warning!
A sharp rise in fraud cases has been reported recently. Scammers are offering gold and other precious metals with false promises of guaranteed profits, urging victims to make rushed advance payments, and promoting deals that seem too good to be true.

Why is fraud on the rise in this sector?

• Over the past six months, the prices of gold and other precious metals have climbed significantly.
• As people look for ways to protect their savings from inflation and economic instability, investment metals are drawing growing interest.
• Fraudsters are exploiting this surge in demand with deceptive tactics.

The most common fraud tactics

• Promises of guaranteed and unusually high returns.
• Offers described as “exclusive” or “limited-time”, with unrealistic prices or returns.
• Creation of fake or recently launched websites posing as legitimate businesses, requesting advance payments for metals or “investment packages” that do not exist.

How to protect yourself: key facts

• Precious metals are traded on international exchanges like the London Metal Exchange (LME), where prices are determined by global supply and demand, market conditions, and geopolitical factors.
   There are no real “super deals” in this market.
  Always verify official prices at: https://novitera.lt/en/metal_exchange/
• Be skeptical of any offer promising fixed returns. Metal prices fluctuate constantly, and no honest seller can guarantee profits.
• Never rush into an upfront payment. With reliable companies, you can agree on prices and arrange all transaction terms and documentation safely.
• Check your supplier – work only with licensed, registered platforms or reputable companies with long-standing experience in the market.

 Fraud in Lithuania: The Numbers

According to the Police Department under the Ministry of the Interior, from January 27 to May 31, 2025, there were 7,491 reports of suspected fraud in Lithuania.
Total losses: €11,304,199.

Want to stay safe? Let us help.

Before making any decisions, consult our team – we’ll help you avoid risks and stay protected.

Call: +370 618 24273
Email: [email protected]
Visit: www.novitera.lt