Investment and crypto fraud · Also called gold bar scam, cash courier scam, precious metals courier scam

Gold or precious-metal courier scam

A gold courier scam convinces victims, often older adults, that their savings are at risk and must be protected by converting them to cash, gold, or silver. Scammers posing as tech support, bank staff, or government officials then send a courier to collect the valuables in person, and they are never returned.

How it works

1. A pop-up, call, or message claims the victim's computer or bank account has been hacked.
2. A second and third caller, posing as a bank and then a government agency, says the money must be protected and the victim must keep it secret.
3. The victim is told to withdraw cash or buy gold or other precious metals.
4. A courier collects the cash or metals at the victim's home or a public place, sometimes after confirming a passcode, and the valuables disappear.

Red flags

• Someone tells you to withdraw cash or buy gold, silver, or other precious metals to keep your money safe.
• A caller says a government agency will look after your assets or that a courier will collect them.
• You are told not to tell your bank, family, or anyone else.
• You are given a passcode to confirm with a stranger who comes to collect.

If you are targeted

• Stop contact and do not hand over any more cash, gold, or valuables.
• Call your bank using the number on your card, and call the police if a courier is due to collect or has already collected.
• Write down what you can about the callers and the courier, including phone numbers, names, and any vehicle.
• Report it. Our Report a scam page lists where to report in your country, such as ic3.gov and ReportFraud.ftc.gov in the US.
• Expect recovery scams: anyone who contacts you offering to get your money back for a fee, including people claiming to be lawyers, regulators, or the FBI, is running a second scam.

Where to report, by country

Prevention

For individuals

• No government agency or legitimate business will ask you to buy gold or other precious metals.
• Never agree to hand cash or valuables to a courier for safekeeping, and do not share your home address with unknown callers.
• Hang up and call your bank or the agency back on a number you find yourself, and tell someone you trust.

For organisations

• Banks and bullion dealers can ask older customers why they are making unusually large cash withdrawals or metal purchases and whether someone told them to.
• Branch staff can be trained to recognise the signs of someone being coached on the phone.

By the numbers

Figures are for the reporting category this scam falls under, not this scam alone.

Real cases

No documented case in the atlas yet. New cases are added as they are sourced.

Delivered through: Voice phishing (vishing)

How official datasets classify it

FTC

Government Imposters

Questions

Would a government agency ever ask me to buy gold?

No. The FBI and FTC both say government agencies and legitimate businesses will never ask you to buy gold or hand cash to a courier to protect it.

What should I do if a courier is coming to collect?

Do not hand anything over. Call the police and your bank straight away, using numbers you look up yourself.

Related scams

• Phantom hacker scam
• Tax agency and benefits impersonation
• Police impersonation and digital arrest
• Family emergency and grandparent scam

Read more

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