A growing scam is targeting seniors, tricking them into withdrawing cash or buying gold and silver to “protect” their savings. Victims are convinced to hand over money or precious metals to people posing as couriers, often losing thousands of dollars in the process. Between May and December 2023, the FBI reported that these scams resulted in more than $55 million in losses nationwide.
The scam usually begins with a phone call from someone claiming to be a tech support agent or government official. Victims are falsely told that their bank accounts have been hacked and that the only way to keep their money safe is to withdraw cash or purchase gold and silver. In some cases, scammers even direct victims to specific dealers or tell them to have the metals shipped to their homes. Once the money or metals are secured, a person arrives in person—sometimes providing a code to make the transaction seem legitimate—and takes the assets. Victims typically never hear from the scammers again.
Authorities urge the public to stay alert. Government agencies and legitimate companies will never ask for cash withdrawals or the purchase of precious metals for security purposes. Sharing personal information, especially home addresses, with strangers is risky. Unfamiliar links, pop-ups, and unexpected emails or texts should be ignored, and people should never allow unknown individuals to access their computers remotely.
Anyone who has fallen victim to this scam should report the incident. In emergencies or if a crime is actively taking place, call 9-1-1.
