It often begins with something that seems almost routine: a warning flashing across a computer screen, a telephone call supposedly coming from a bank, or a serious-sounding government official claiming that something has gone terribly wrong with your accounts. The caller may know your name, speak confidently about your finances and even provide what appears to be an official case number, but then comes the instruction that should immediately set off alarm bells — withdraw your savings, convert the money into cash or gold, and give it to someone who will come and collect it. The FBI says this frightening scenario is not hypothetical. Criminals are increasingly using couriers to physically collect enormous amounts of money and precious metals from victims, and older Americans have suffered the overwhelming majority of the losses. (FBI)
The scale of elder fraud has become staggering. According to the FBI’s 2025 Internet Crime Complaint Center data, people over 60 filed more than 201,000 complaints and reported losses exceeding $7.7 billion, a 59% increase in reported losses compared with the previous year. The average reported loss among older victims exceeded $38,000, while at least 12,400 people reported losing $100,000 or more. (FBI)
Among the schemes receiving particular attention are so-called gold courier scams, in which criminals persuade someone that their savings are in danger and then arrange to physically take possession of the victim’s money.
The FBI’s 2025 annual report recorded approximately 725 gold courier complaints involving $311.8 million in reported losses, illustrating just how much money can disappear through a scheme that may begin with nothing more than an unexpected telephone call. (FBI)
It can begin with an innocent-looking computer message
One version begins while someone is simply browsing the internet.
A warning suddenly appears claiming that the computer has been infected, a bank account has been compromised or the device has been involved in suspicious activity. A telephone number appears on the screen, supposedly connecting the user to technical support.
The victim calls.
The person who answers may sound professional and reassuring, perhaps claiming to work for a well-known technology company. The supposed technician asks permission to remotely access the computer so the problem can be investigated.
That is where the trap begins to tighten.
After gaining access, the scammer may claim to have discovered evidence that the victim’s bank account has been compromised. The call can then be transferred to another criminal pretending to represent a bank or financial institution, followed by yet another supposed official claiming to work for the government.
Each new person makes the story seem more legitimate.
The FBI has warned that criminals may impersonate organizations including financial institutions, the Federal Trade Commission, the Department of Justice or other law-enforcement agencies while convincing victims that immediate action is necessary. (FBI)
The victim may then hear something terrifying: your Social Security number has been connected to criminal activity, your bank account is being used for illegal transactions, or someone is attempting to steal your retirement savings.
But there is supposedly a solution.
Move the money before the criminals get it.
“Withdraw your money so we can protect it”
This is one of the most dangerous moments in the scam because the criminals deliberately make their instructions sound protective.
Rather than openly asking victims to give them money, they may claim the money must temporarily be moved into a “safe” or “government-protected” location while an investigation takes place.
Victims can be instructed to withdraw large amounts of cash, purchase gold bars or other precious metals, transfer money to supposedly secure accounts or convert savings into other forms.
The explanation changes from case to case, but the underlying objective is always the same: separate the victim from their money.
The FBI emphasizes one simple fact that can stop the scam immediately:
The U.S. government will not ask you to purchase gold or other precious metals to protect your money. (FBI)
Nor will a legitimate government agency ask someone to hand their savings to a stranger arriving at their home.
Yet that is exactly where some of these schemes now lead.
Then the stranger arrives
After the victim has withdrawn cash or purchased gold, the scammer may say that an authorized representative will collect it.
A courier then appears.
Sometimes the pickup happens at the victim’s home. In other cases, victims are told to meet the courier somewhere else. Some drivers may even transport victims to financial institutions to withdraw money.
To make everything appear official, criminals can provide a code, password or serial number that the victim is instructed to exchange with the courier.
Imagine how convincing that can feel after hours or even days of manipulation.
The supposed government official tells you that a courier named “Michael” will arrive at 3 p.m. He will give you a particular code. You repeat another number back to him. Only then should you hand him the package.
It creates the appearance of security.
In reality, the elaborate procedure is part of the deception.
FBI Boston documented 103 courier incidents between 2023 and May 2025 involving more than $26 million in losses across Massachusetts, Maine, New Hampshire and Rhode Island. Roughly 98% of those losses were reported by people over 60. Nationwide during that period, the FBI documented at least 1,737 instances involving couriers collecting bulk cash or gold, representing approximately $186 million in losses. (FBI)
And investigators believe the real total could be considerably higher because many victims never report what happened.
One woman lost more than $500,000
A case highlighted by the FBI in May 2026 demonstrates just how sophisticated these criminals can be.
An FBI agent investigating a fraudulent call center in India identified an American woman in her 70s who appeared to be losing tens of thousands of dollars to scammers. When the genuine FBI agent attempted to contact her, she initially assumed he was the scammer.
She ignored his first calls.
When she finally answered, she became suspicious, hung up and blocked his number.
Eventually, the agent managed to reach her through another telephone and arrange an in-person meeting, where he convinced her that the people she trusted were actually stealing from her.
By then, the damage was devastating.
According to the FBI, the woman had already lost more than $500,000 through cash, wire transfers and gift cards and had even taken equity out of a home that had previously been paid off. (FBI)
Perhaps the most startling detail was who she was.
The victim was a criminology professor with extensive knowledge of victimology.
If someone professionally familiar with criminal behavior could be manipulated so effectively, the lesson is uncomfortable but important: falling for a sophisticated scam is not simply a matter of intelligence.
The criminals are professionals at manipulation.
They deliberately create panic
These scams work because criminals rarely give their victims enough time to calmly evaluate what is happening.
Instead, they create urgency.
Your account is being emptied.
Your Social Security number has been stolen.
Your computer contains evidence of a crime.
A warrant is being issued for your arrest.
Your grandchild has been arrested.
Your savings will disappear unless you act immediately.
Once fear takes over, the scammer attempts to keep the victim isolated long enough to prevent anyone else from questioning the story.
Some criminals specifically instruct victims not to tell their family, bank employees or friends what is happening, perhaps claiming that discussing the supposed investigation could interfere with law enforcement.
That demand for secrecy is itself a major warning sign.
The FBI says scammers may even tell victims to lie about why they are withdrawing large sums if bank employees ask questions. Financial institutions have become increasingly alert to elder fraud, so criminals know that a concerned teller asking one additional question can destroy an entire scam. (FBI)
That is why the scammer wants the victim alone, frightened and moving quickly.
The person at your door may not look threatening
Another misconception can make these schemes more dangerous.
People sometimes imagine a scammer as someone obviously suspicious, but the courier arriving to collect money may look completely ordinary.
The individual may be polite, professionally dressed and calm. In some cases, the courier may not even understand the full scope of the criminal operation in which they are participating. (FBI)
There may be no dramatic confrontation.
A person simply arrives, provides the predetermined password, takes the package and leaves.
By the time the victim realizes what happened, the money may already have moved through multiple people and accounts, making recovery extremely difficult.
Cash and gold are particularly attractive to criminals because once physically handed over, they can disappear rapidly.
It isn’t only fake FBI agents
Government impersonation is only one variation.
The FBI says courier pickups can appear in grandparent scams, where criminals pretend that a loved one has been arrested or injured and urgently needs money.
A caller might claim to be a grandson who caused a serious automobile accident, followed by someone pretending to be his lawyer. The victim is told that bail must be paid immediately and that someone will arrive to collect the money.
Another version begins with fake technical support.
Others involve criminals pretending to be representatives of banks or government agencies.
The stories differ, but certain elements repeatedly appear: urgency, secrecy, unusual payment methods and pressure to move money immediately.
Five words should make you stop: “We will send a courier”
The FBI has been remarkably clear about this particular warning sign.
If someone requesting payment says a courier will arrive to collect cash, that is a major red flag. (FBI)
The same applies when someone claiming to represent the government tells you to purchase gold, cryptocurrency or gift cards.
Legitimate government agencies do not resolve investigations by sending strangers to collect gold bars from people’s homes.
A bank does not need you to withdraw your money in cash to “protect” it from fraud.
And a genuine FBI agent will not demand payment to prevent your arrest.
Those simple rules are worth remembering because criminals can make the surrounding story extraordinarily complicated.
What should you do if you receive one of these calls?
The most important response is also the simplest: stop communicating with the caller.
Do not follow the telephone number they provide to “verify” their identity, because that number may simply connect you to another member of the same criminal network.
Instead, independently locate the official telephone number for your bank, financial institution or government agency and contact it yourself.
Do not give an unknown person remote access to your computer.
Do not download software at their request.
Do not withdraw money because a stranger says your account must be protected.
Do not purchase gold, cryptocurrency or gift cards for someone claiming to represent the government.
And above all, do not meet a stranger to hand over cash or precious metals. (FBI)
If someone is already on the way to your home, do not open the door or make the exchange. Contact local law enforcement if you feel threatened or believe a crime is in progress.
If you’ve already paid, don’t stay silent
Embarrassment is one of the criminals’ most useful weapons after a scam succeeds.
Victims may feel ashamed that they believed the story, particularly when large amounts of money are involved, and some hesitate to tell their children or law enforcement because they fear being judged.
The FBI stresses that these scams can fool highly educated and knowledgeable people, and reporting quickly can give investigators valuable information that may help identify the criminals or prevent additional victims. (FBI)
Victims and people who believe they have been targeted can report suspected internet-enabled fraud through the FBI’s Internet Crime Complaint Center.
FBI Internet Crime Complaint Center (IC3)
People 60 and older who need assistance filing a complaint can also contact their local FBI field office or the Department of Justice National Elder Fraud Hotline at 1-833-FRAUD-11 (1-833-372-8311). (FBI)
One conversation could protect someone’s life savings
Perhaps the most important part of the FBI’s warning isn’t directed only toward older Americans themselves.
It is also directed toward their families.
Talk about this scam before the telephone rings.
Tell parents, grandparents, neighbors and friends that no legitimate government official will ask them to secretly withdraw their retirement savings, buy gold and hand it to someone at the door.
Explain that caller ID can be manipulated and official-looking documents can be forged.
Most importantly, agree on one simple family rule: before moving a large amount of money because of an unexpected call, stop and speak with someone you trust.
That pause can destroy the scammer’s greatest advantage.
Because the most frightening part of this scheme isn’t the stranger who eventually appears at the door.
It is everything that happens before they arrive — the hours of fear, convincing lies and carefully constructed urgency that can persuade someone to willingly hand over savings accumulated across an entire lifetime.
The FBI’s warning is therefore worth remembering in its simplest possible form: if someone unexpectedly tells you that your money is in danger and the solution involves cash, gold, secrecy or a courier coming to your home, stop immediately.
The person claiming to protect your savings may be the person trying to steal them. (FBI)
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