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This is our third Article on Alluvial Gold and we will discuss methods scammers adopt in defrauding their victims. I, Cheaper Price of Gold; All too often than not, this method has always worked for the scammers as it is like their bait, use to lure their victims. As every business man wants to maximize profits so watch for gold offer that are too good to be true. As an example of this is when after doing your actual calculations on the resultant discount from the current world market price of gold you discovered you might be realizing over 20% discount off the world market price, that should be a signal that you are in for a scam. Usually, the discount rarely exceeds 6.5% to 10% in a very unusual negotiation one might get 12%, so realizing more than this is not a good sign and it would be better for you to just end the negotiation. 2, Export Charges; This is another methods gold scammer adopt usually depending on the Country where the gold is being exported from the export charges vary from 5% to 7.5% of the total cost of the gold to be exported. Do your own inquiries with the relevant Government Agencies in charge directly, do not use an agent to do this, unknowingly to the so called Seller you would come up with a totally different export charges and procedures. Take note, that the export charges in most cases is just enough money for the so called Seller to go away with, so do not be surprise that after paying the export charges to the seller he thereafter disappears from without trace, so be very diligent in the process. This is a double impact method scammers use, they defraud you in both the export charges and in the procedures if you are able to beat them on the export charges by making payments directly to the Agencies they would attempt to defraud you through the export procedures by demanding more money for it and or getting you to make further commitments with other so called Agency officers that had hidden arrangements with them even though that Agency is a genuine Government office but for the fact that you did not do your own private validation before they take you there the dubious officers there, would align with them and dupe their victims. The element of surprise must be applied by you, one must always be ahead of them. I have witness occasions where the scammers calculated their victims and arraigned him to witness a genuine gold transaction in the Government designated office, using it to prove to the victim that theirs, would turn out the same way with the collaboration of officers on duty. So you can see that those in the Government office are also corrupt and benefiting from the racket as well you only know the truth if you do your validation privately and confidential. 3, Testing of the Gold; The Laboratories charged with the duty to carry out the testing of the gold is another issue who at times also collaborate with the scammers by switching or changing the samples of the gold to be tested or by availing you fake results. This is in fact a very big challenge as these scammers work closely with them. So you should be the one to choose your own laboratory where the test and sample test be carried out less you will be duped or a genuine sample of gold that you bought could be switched at the laboratory where the test is carried out. Finally we would like to mention a fourth method also involves switching of the gold. 4, Smelting; Suppose one succeeded in purchasing gold dust from the scammers next they would prepare to scam you at the smelting point either at the Refinery or at a local goldsmith who will be the one to smelt the gold into bars usually before exporting the gold. Let’s say you bought 5kilogram of gold dust and you intend to smelt it into 5 gold bars of 1 kilogram each, what the scammers will do is to have identical fake 5 gold bars on hand with the Refinery or the Goldsmith and after smelting it into 5 gold bars they would now deep them inside a container where 5 identical bars were kept inside the same container with water to cool off, deep enough for you not to see through and after some minutes the refiner will then bring those 5 fake bars out instead, leaving your genuine 5 bars inside the water container and then, present those fake ones as yours unknowingly to you, see just how smooth they can be. In summary there are many methods used by these scammers to defraud their victims basically, scammers do not settle for one method or they do not simply give up if you beat them at the first instance, they only regroup for next stage to recover their gold back from you, they won’t allow you to get away with their gold it almost impossible, they would relentlessly continue, the hallmark of scammers is switching procedures, so the track you must watch out for is switching procedures. Once you agree with them on a certain procedure do not allow them to switch the procedures, do not accommodate it, once the so-called seller switches, tell him you will have to start all over again with the same procedures, should they decline, then you know they are not genuine. There are many other methods l might discuss in the next Article, as a rule, Never let go gold in your hand for any reason once paid for, do not pay, Never Ever pay for gold unless is in your hand and tested. Best wishes in your endeavors and Godspeed. Thanks for reading and watch out for my next Article.


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We have written two other Articles that preceded this one, it the third and the latest of the series of Articles, Rey assured would forward also the first and second next time Enjoy reading and be well informed