FTC scam costs Pittsburgh-area resident $5 million, police say

State police are investigating after a Pittsburgh-area resident was scammed out of over $5 million by people pretending to be the Federal Trade Commission. 

According to a public information release report from Pennsylvania State Police, the U.S. Secret Service notified troopers in Greensburg about a fraud investigation on Feb. 24. 

Police said the victim was scammed out of over $5 million by people posing as the FTC. The scam started when the victim responded to a text message about a PayPal transaction. Troopers said the text served as a "catalyst" for the scammers to contact the victim, this time pretending to be the FTC. 

At first, the victim was asked for cash, then he was asked to buy gold bars, police said. Those transactions were completed in the area of Unity Township.

Saying the investigation is ongoing, police are asking anyone who has been a victim of "similar circumstances" to contact them, whether or not they gave away money. Other potential victims are asked to contact Trooper Kinger at 724-832-3288.

The FTC says scammers often pretend to be from an organization you know. They'll say there's a problem or a prize and pressure you to act immediately, requesting payment in a specific way. 

Honest organizations won't call, email or text you for personal information, the FTC says. If you get an email or text you think is real, it's best not to click on any links. Instead, contact the business with a website you know is trustworthy or look up its phone number. Experts say honest businesses will give you time to decide, so anyone who pressures you is a scammer. And never pay someone who insists you use a specific method like cryptocurrency, a wire transfer or a payment app.