How to Avoid Platinum Scams
Platinum scams typically promise unusually high returns, rare metal deliveries, or “exclusive” investment opportunities and often ask for upfront payments, personal data, or untraceable transfers; avoid them by verifying sellers, using traceable payments, and checking independent records before you send money or sensitive information[1][3].
What a platinum scam looks like
– Fake sellers and websites: Scammers create convincing sites or listings that mimic real dealers but have subtle domain typos, poor content, or no verifiable contact details[1].
– Pressure and urgency: Scammers push you to act quickly or use fear of missing out to bypass your usual checks[2].
– Requests for untraceable payment: They ask for wire transfers, cryptocurrency, or gift cards — payment methods that are hard to reverse[1][3][4].
– Too-good-to-be-true prices: Offers far below market value for platinum or guaranteed high returns are common red flags[3].
– Suspicious delivery or documentation promises: Vague shipping terms, missing serial numbers, or phony certification documents indicate fraud[1].
Practical steps to protect yourself
– Verify the dealer or buyer independently: Use known industry registries, official business directories, and multiple independent reviews rather than relying on one website or message[1].
– Check the website and contact details: Look for correct domain spelling, a privacy policy, physical address and customer support phone number; absence of these is suspicious[1].
– Use traceable, buyer-protected payment methods: Prefer credit cards, reputable escrow services, or payment platforms with dispute resolution rather than wire transfers or crypto[1][3].
– Inspect certificates and ownership records: Ask for verifiable assay certificates, serial numbers, or chain-of-custody documentation and confirm them with the issuing lab or company[1].
– Avoid unsolicited offers and links: Do not click links in unexpected emails or texts; instead go directly to a trusted site by typing the URL yourself[1][2].
– Keep devices and accounts secure: Use updated security software, strong unique passwords, and two-factor authentication for accounts involved in transactions[3].
– Use secure networks for transactions: Do not complete financial transactions over public Wi-Fi without a VPN[3].
– Get a second opinion on investments: Consult a qualified financial advisor or a reputable bullion dealer before committing to large purchases or investments[3].
– Keep records and monitor accounts: Save receipts, order confirmations, and track bank/credit card statements for unauthorized activity[5].
– Report suspicions promptly: If you suspect fraud, contact your bank, the platform where the seller is listed, and appropriate consumer protection agencies to report and limit harm[1][2][5][6].
Red flags that should stop the deal immediately
– Requests to pay via gift cards, crypto, or wire transfer with no other options[1][4].
– Pressure to act “now” or an unusual rush to complete payment[2].
– Offers that lack verifiable provenance, assay details, or seller reputation[1].
– Poorly written communications, mismatched logos, or email domains that do not match the company name[1][5].
– Refusal to use escrow or provide a verifiable delivery and inspection window[3].
If you are scammed or think you nearly were
– Contact your bank or card issuer immediately to dispute payments and freeze accounts if needed[5].
– Report the incident to consumer protection authorities and the platform where the scam appeared so others can be warned[2][6].
– Place fraud alerts with credit bureaus and consider a credit freeze if personal data was exposed[5].
– Save all messages, receipts, and screenshots to help investigators and your financial institution[5].
Everyday habits that reduce risk
– Treat unsolicited investment or rare-metal offers with skepticism and verify before responding[2].
– Prefer established dealers and marketplaces with buyer protection and clear return policies[1][3].
– Regularly review account statements and enable transaction alerts from your bank or card provider[5].
– Educate yourself about common scam tactics and stay updated on current fraud trends[2][3].
Sources
https://www.unitybank.com.au/latest-news/articles/shop-smart-expert-tips-to-avoid-scams-this-sales-season/
https://www.ffcu.org/resources/education/fraud-prevention
https://www.admiral.com/magazine/guides/christmas-cyber-scams
https://www.monterra.org/blog/2025/gift-card-scams
https://www.firstent.org/faqs/security-center/
https://www.bmo.com/en-us/main/personal/security-center/scam-alerts/