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Beware of gold scams. Criminals posing as federal agents are convincing people to convert their savings into gold — and then taking it.
“Gold courier” and “gold bar” scams targeting the elderly are multi-million dollar schemes in which international criminals, posing as federal agents or tech support, convince seniors to liquidate their life savings and convert them into physical gold to “protect” their assets.
Seniors are contacted via fake computer pop-ups, text messages, or phone calls from individuals posing as agents from agencies like the Social Security Administration, FTC, or DOJ.
The scammer claims the victim’s identity has been stolen or that their bank accounts are compromised, and they are instructed to transfer funds into gold bars or coins to keep the money safe.
Victims are directed to buy gold and then hand it over to a local, unverified courier or ship it, after which the gold is quickly melted down or laundered, resulting in total loss.
If you suspect you or a loved one is being targeted by a scam, immediate action is critical.
Do not purchase any more gold, wire funds, or hand over packages.