New York officials are warning older adults about a gold-bar courier scam.
Why it matters: The scam works by pressuring victims to bypass normal bank safeguards and turn savings into gold, then hand it to a courier. Older adults are a prime target because the fraud uses urgency, fear and spoofed warnings to override caution.
- Suffolk County officials say they have seen more than a dozen gold-bar scam attempts this year.
- New York State Police say victims are told their accounts or identities are compromised and are urged to buy gold bars for "safe keeping."
- The FBI says it documented 1,737 courier-pickup incidents nationwide from 2023 to May 2025, with losses of about $186.3 million.
- In a Tompkins County case, police said a victim was coerced into handing over $250,000 in gold bars in June 2024 and another $250,000 in August 2024.
New York law enforcement officials are warning about a courier-based gold-bar scam that targets older adults by tricking them into converting savings into gold and handing it to a stranger for supposed safe keeping.
State police say the scheme often starts with a phone call or pop-up warning telling victims their account or identity has been compromised. The target is then pushed to buy gold bars before a courier arrives to collect them. New York State Police described that playbook in a Tompkins County case, where investigators said a victim was pressured into multiple gold transfers.
The Tompkins County case involved $250,000 in gold bars in June 2024 and another $250,000 in August 2024. The FBI says similar courier scams are part of a broader fraud pattern and warns that legitimate businesses and government agencies do not ask people to buy gold or precious metals.
In Suffolk County, officials say they have seen more than a dozen attempts this year. Det. Sgt. Tom Gabriele said scammers are "masters of manipulation," while District Attorney Ray Tierney urged residents to hang up if anyone tells them to liquidate assets for gold bars. Local officials have begun publicly warning residents as attempts continue.
The FBI said it documented 1,737 courier-pickup incidents nationwide from 2023 to May 2025, with losses of about $186.3 million. In the bureau's Boston Division, roughly 98% of losses were reported by people over 60.
By the numbers
- 1,737 - FBI-documented courier-pickup incidents nationwide from 2023 to May 2025.
- $186.3 million - estimated losses tied to those incidents.
- More than a dozen - gold-bar scam attempts Suffolk County officials say they have seen this year.
Yes, but: The FBI figure covers courier-pickup incidents broadly, not only gold-bar scams, so it likely overstates the gold-bar share of the problem.
What's next: New York and local officials are continuing public warnings as the scam attempts surface in multiple counties.