Protecting Seniors from the ‘Gold Bar’ Scam

By District Attorney Summer Stephan
 
A dangerous and fast-growing scam is targeting seniors in our community and it is financially devastating. We are seeing more and more victims persuaded to drain their life savings, convert it into gold, and hand it over to strangers posing as government agents.
 
This is not really about gold. It’s a sophisticated deception that starts as a tech support scam and quickly escalates into something far more sinister.
 
It begins with a pop-up on a computer claiming to be from Microsoft or another trusted company. Victims are told their device has been hacked. Then the fear intensifies: scammers claim the victim is connected to serious crimes or that their financial accounts are compromised. Panic sets in.
 
That’s when the criminals take control.
 
They convince victims to “protect” their money by withdrawing it, buying gold, and handing it to a courier who claims to be a government agent safeguarding assets during an “investigation.” Victims are often told to stay silent and even to lie to their own bank or family because of a supposed gag order.
 
These criminals are highly skilled manipulators. In one recent case, a victim lost $187,000 and was on the verge of losing hundreds of thousands more. Despite warnings from bank employees and financial advisors, she believed the scammers over the people trying to help her.
 
This is happening every day. In 2025 alone, San Diego seniors lost $140 million to scams like this, often driven by international criminal networks. Our Elder Justice Task Force has arrested dozens of couriers, but the problem continues to grow.
 
We need awareness and action. Here’s what to watch for:
 
·       Unexpected pop-ups or calls claiming your computer is hacked
·       Urgent threats involving your identity, finances, or criminal accusations
·       Instructions to withdraw large sums of money or buy gold
·       Requests to hand off assets to a courier or “government agent”
·       Demands for secrecy, including instructions to lie to family or bank staff
·       Claims of a “gag order” or documents pressuring you not to talk
 
If this happens to you, remember:
 
·       Stop – Take a moment. Scammers rely on panic and urgency.
·       Hang up – Do not stay on the phone or continue communication.
·       Tell someone – Contact a trusted family member, friend, or your bank immediately.
·       If you have lost money to one of these scams, please report immediately to the FBI at www.IC3.gov and to your local police agency.
Also report the incident to local law enforcement or Adult Protective Services at (800) 339-4661. The sooner you speak up, the better chance we have of stopping the scam and possibly recovering your money.
 
Let me be clear: no legitimate government agency will ever ask you to convert your savings into gold or hand it to a courier.  No real investigator will demand secrecy from your loved ones or financial institution.
 
These scams are not just theft, they are emotional manipulation that leaves victims feeling isolated and betrayed. We are working tirelessly with our law enforcement partners to hold those responsible accountable, but prevention starts with awareness.
 
Please share this information with the seniors in your life. A simple conversation could save someone’s life savings.
 
And remember: Stop. Hang up. Tell someone.
 
The San Diego Elder Justice Task Force was launched in 2021 and brought together partners including the San Diego County District Attorney’s Office, the FBI, the U.S. Department of Justice, the U.S. Attorney’s Office, the San Diego County Sheriff’s Office and local law enforcement agencies as well as Adult Protective Services, and the San Diego Law Enforcement Coordination Center.