The Federal Bureau of Investigation (FBI) warns the public of an uptick in gold bar and bulk cash courier scams “resulting in devastating financial losses,” primarily targeting older adults.

Gold bar and bulk cash courier scams refer to schemes that convince victims to turn their valuables over to a scammer or someone working with the scammer in person — eliminating a trail back to the fraud.

“Criminals may conduct grandparent , government impersonation , or tech support scams to collect cash or gold using an in-person courier sent to the victim’s address or a third-party location,” the FBI warns.

“To boost their credibility, scammers may give the victim a ‘code,’ ‘password,’ or ‘serial number’ to identify whether the courier is the person to whom the funds should be given.”

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