FBI issues warning: Beware of ‘devastating financial losses’ from scam

The Federal Bureau of Investigation (FBI) warns the public of an uptick in gold bar and bulk cash courier scams "resulting in devastating financial losses," primarily targeting older adults.

Gold bar and bulk cash courier scams refer to schemes that convince victims to turn their valuables over to a scammer or someone working with the scammer in person — eliminating a trail back to the fraud.

"Criminals may conduct grandparent , government impersonation , or tech support scams to collect cash or gold using an in-person courier sent to the victim's address or a third-party location," the FBI warns.

"To boost their credibility, scammers may give the victim a 'code,' 'password,' or 'serial number' to identify whether the courier is the person to whom the funds should be given."

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From 2023 to 2025, FBI Boston identified 103 instances across New England where a courier was used to pick up cash or gold bars, resulting in more than $26 million in losses.

In 98% of the cases, victims were individuals over the age of 60.

But the uptick in courier scams are not limited to New England. Nationwide, 1,737 instances were identified within the two-year time frame.

FBI Boston reports more than $186 million losses, though it's likely higher "because many victims are ashamed and don't know where to report the fraud, or don't realize they've been scammed."

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Ted E. Docks, Special Agent in Charge of the FBI's Boston Division says the frauds behind these schemes are "literal gold diggers," trying to "get rich quick at the expense of our aging family members and friends."

Fraudsters may target victims using any one of these scams:

• Grandparent scams:A fraud will call a grandparent and pretend they are their grandchild, family member or a lawyer claiming a relative is in legal or medical trouble needing money immediately.

• Government Impersonation: Scammers pretend to be a person holding a government or law enforcement position and threaten to arrest a victim for some crime. Victims may be told they can only prove they're innocent by transferring assets into a "government-owed" account.

• Tech Support with Government Impersonation: A victim receives alerts on their computer telling them to call a helpdesk line to solve an issue that is not real. The "helpdesk" inspects the devise and "finds illegal purchases." The scammer might transfer a victim to a person threatening criminal charges and tell them to transfer funds into an account.

To protect yourself and others from falling victim to these schemes, the FBI advises:

• Know that the U.S. government and legitimate businesses will never ask you to purchase gold or other precious metals.

• Limit what you post online and never disclose your home address or agree to meet strangers to deliver cash or precious metals.

• Do not click unsolicited pop-ups on your computer, links sent via texts, or links and attachments embedded in emails from unknown or spoofed senders.

• Do not call unknown telephone numbers shown in pop-ups, texts, or emails.

• Do not download software at the request of unknown individuals.

• Do not allow people you don't know access to your computer.

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