As gold prices hit record highs, a disturbing new fraud tactic leaves vulnerable Americans penniless. Kris Owen, a 79-year-old Indiana veteran, became one of thousands victimized by gold bar courier scams after cybercriminals stole $80,000 of his life savings through an elaborate ruse.
They sent me fake FBI letters and told me to wrap gold bars in Christmas paper,Owen told ABC News. His story mirrors a national crisis where scammers posing as federal agents convince victims to convert cash into gold – only to have fraudulent couriers collect the precious metals in parking lots.
I’ve never seen a scam this sophisticated targeting so many nationwide,said Montgomery County Detective Sean Petty during an FBI briefing.
The scheme’s mechanics reveal ruthless precision:
- Tech support pop-ups falsely claim victims’ computers are compromised
- Impersonators demand funds be converted to untraceable gold bars
- Couriers retrieve packages while posing as government agents
With $126 million stolen in 2024 alone, the FBI warns these financial predators often operate through overseas call centers. Take a beat before reacting to urgent messages,urges FBI Financial Crimes Chief Chris Delzotto. Scammers exploit gold’s perceived safety to bypass banking safeguards.
Law enforcement now targets couriers like Abdul Mohammed and Yash Shah – low-level operatives paid to collect golden parcels. While some face prosecution, authorities struggle to identify international masterminds coordinating the scams from India.
As gold stores report booming sales, security experts advise:
- Never share financial details with unsolicited callers
- Verify government contacts through official channels
- Discuss large transactions with trusted family members
Owen’s sting operation helped arrest one courier, but his losses remain unrecovered. They prey on loneliness after my wife died,he said. With gold prices projected to rise, officials warn this courier fraud epidemic shows no signs of slowing.
