RENTON, Wash. — Authorities are warning Washingtonians to be vigilant for large-scale fraud cases tied to gold bar schemes.Law enforcement officials from the King County Sheriff’s Office (KCSO), King County Prosecuting Attorney’s Office, FBI Seattle, and the U.S. Attorney’s Office spoke to reporters Thursday about rising fraud losses this year.According to the National Senior Fraud Advisory Office, older adults’ losses nationwide jumped from $600 million in 2020 to $3 billion in 2025.FBI numbers place that even higher.Assistant U.S. Attorney Lauren Watts Staniar said FBI reports calculated that adults over 60 lost $7.7 billion in 2025 to all kinds of scams and frauds.According to the FBI’s 2025 internet crime report, 5,392 Washingtonians over 60 reported over $179 million in losses due to financial scams.Officials said gold courier scams, specifically, accounted for nearly $312 million in losses across the United States.Courier scams are often carried out by large organized criminal groups who exert psychological pressure on their victims to stay quiet and act quickly.Law enforcement officials said there are specific things to recognize to avoid becoming a victim.Fraudsters usually resort to urgency, telling potential victims that they’re in trouble with the law, have a compromised bank account or ID, have a family member in danger, or that this is a once-in-a-lifetime investment opportunity.For the gold courier scams, imposters pretend to be law enforcement or government officials and ask their victim to take out money in gold.A “federal agent” then comes to the house to pick up the gold, or the victim is instructed to box up the gold and drop it off with someone.Shane, a 78-year-old business owner from Shoreline, told reporters the story of how she was scammed out of $3 million.A 78-year-old Shoreline woman identified as “Shane” speaks to reporters on Nov. 5, 2026, about how she was scammed out of $3 million. (KOMO)”I have been victimized, but I am not a victim,” Shane said. “For five and a half months, I was scammed out of 95% of my assets.””I just found out six weeks ago, so I’m still reeling,” Shane added. “I’m doing my best to comprehend what is happening to me and how to move forward.”Shane said that while clearing out emails, her computer began to go crazy.She became scared and was instructed on her computer to call Apple and Chase fraud linesShane said she then spoke with the fraudsters for five and a half months, “building what to me felt like a lovely friendship until they got everything they needed.”The scammers convinced Shane to buy bitcoin and gift cards and told her she was helping to catch the real hackers who got into her email.They told her the only way to make sure her money was safe was to liquidate assets and buy gold from the Federal Reserve.Shane then boxed up her life savings, now in gold, and handed it to strangers.Law enforcement officials said Shane’s story is just one example of many people swindled out of their assets.”Earlier this year, the FBI launched the new most-wanted fraudsters list to increase public visibility and generate tips to help law enforcement locate individuals wanted for major fraud offenses,” said Jerald Burkin of the FBI Seattle Field Office. “Financial scams are widely believed to be underreported, which means the impact may be even greater than the data suggests.”King County Prosecuting Attorney Leesa Manion said it’s critical to stay alert.”If something sounds too good to be true, it likely is,” said Manion. “And if something feels off to you, like a request to make a payment in an unusual payment method, please take a moment and discuss the situation with someone in your life that you trust.”Officials urged those who have been victimized to contact law enforcement.
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