New Delhi, Oct. 25 -- Scammers in Norway are tricking people into leaving gold in forests and other public places. They promise to keep it safe while its value increases. Instead, the gold disappears, leaving victims facing heavy losses.

Norway's banking group, Finans Norge, says several bank customers have fallen for this trick. Many victims are older people who spent large amounts buying gold. Cases have been reported in Oslo, nearby towns and Bergen.

Gry Nergard, the group's anti-fraud director, said the first case had emerged during spring. The fraud usually starts with a phone call offering gold investments. Callers offer the safekeeping of precious metals. At the same time, they promise high returns against gold.

After victims bu...