Washington: Law enforcement agencies across the United States have warned residents about increasingly sophisticated gold bar scams, which reportedly cost Americans nearly $312 million in 2025, as fraudsters increasingly target older adults through impersonation and psychological manipulation.
Officials from the King County Sheriff’s Office, King County Prosecuting Attorney’s Office, FBI Seattle and the US Attorney’s Office issued the warning during a press briefing on November 5, highlighting the growing financial impact of scams targeting senior citizens.
According to FBI figures, Americans aged 60 and above lost approximately $7.7 billion to various scams and fraud schemes in 2025. Separately, data from the National Senior Fraud Advisory Office showed that financial losses among older adults nationwide increased from $600 million in 2020 to $3 billion in 2025.
Washington state also reported significant losses. The FBI’s 2025 Internet Crime Report recorded 5,392 complaints from residents aged over 60, involving losses exceeding $179 million.
In gold courier scams, criminals impersonate federal agents, police officers or government officials and convince victims that their bank accounts, identities or personal information have been compromised. Victims are then instructed to withdraw their savings, purchase gold bars and hand them over to couriers posing as authorised officials.
Fraudsters frequently use fear, urgency and fabricated emergencies to prevent victims from seeking advice or verifying the claims.
One such case involved a 78-year-old Shoreline businesswoman, identified as Shane, who reportedly lost $3 million over five and a half months. Scammers initially convinced her that her computer and email accounts had been hacked before building a relationship of trust with her.
They persuaded her to purchase Bitcoin and gift cards, liquidate her assets and buy gold, falsely claiming it was necessary to protect her savings and help authorities catch the hackers. She eventually handed over gold worth nearly all her life savings to strangers.
FBI Seattle officials said financial scams are widely underreported, suggesting that the actual losses could be considerably higher.
Authorities have urged residents to be cautious of unsolicited calls, demands for immediate payments and requests to purchase gold or transfer assets. They advised people to verify suspicious claims independently and consult trusted family members before making financial decisions.
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