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A pop-up on your computer screen. A call from someone claiming to be a federal agent. By the end, your savings are gold bars in a stranger’s hands.
That’s the scheme Pennsylvania State Police say has cost victims about $6.5 million, according to a state police release. An 87-year-old woman from Mechanicsburg reportedly lost about $1.5 million in gold, and a 74-year-old woman from Rixford lost about $259,000 in gold and cash, CBS 21 reported.
Must Read How the scam works
Troopers say it usually starts with a pop-up on the victim’s computer. The victim is then contacted by people claiming to represent federal officials, who say the victim’s identity or Social Security number is tied to criminal activity and that their bank accounts have been compromised.
The victim is told to take out money, buy gold bars or coins and hand them to a courier for “safekeeping.”
Scammers posing as federal agents have targeted victims in multiple states, including Maryland and Washington state, according to state police.
“They’re going to try to scare you,” Trooper Megan Frazer of Pennsylvania State Police told CBS 21, adding that even a caller ID that looks legitimate isn’t proof. “Unfortunately, a lot of numbers can be spoofed. Someone’s calling you saying that they’re in law enforcement. They may not be.”
State police believe there may be additional victims who haven’t been identified. Two people were taken into custody after state police stopped their vehicle on Interstate 80 in Union County on Sept. 10. But getting money back can still be tough.
“Majority of these scams, unfortunately, go overseas, so it’s kind of a dead end for law enforcement,” Frazer noted.
The bigger picture for older adults
The FBI’s 2025 Internet Crime Report shows how much is at stake. People 60 and older filed 201,266 complaints with its Internet Crime Complaint Center, reporting $7.7 billion in losses, and 12,444 of those complainants lost more than $100,000.
Government impersonation alone drew 8,628 complaints from that age group and about $413.2 million in losses.
The Federal Trade Commission has also flagged gold as a payment route. The agency reported that older adults who lost more than $100,000 to business or government impostors in 2024 noted gold as the payment method or mentioned it in their complaint narrative in about 21% of reports.
Reports of losses of $10,000 or more by that group rose from 1,790 in 2020 to 8,269 in 2024.
How to protect yourself
The FTC’s advice is clear: “No one from the government will ever tell you to buy and deliver gold bars, move your money or give cash to anyone.”
If you get a call like that, the agency says to hang up, block the number, talk to someone you trust and report the scam at ReportFraud.ftc.gov.
Frazer recommends looking up the agency’s phone number on its official website and calling directly to verify. If you’ve already relinquished money or gold, contact your local police right away, then call your bank(s), protect your Social Security information and change any compromised account details.
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This article originally appeared on Moneywise.com under the title: Pennsylvania woman, 87, hands $1.5M in gold to fake federal agents — and police say more victims don’t know it yet
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.