WATCH: Former Secret Service Agent Explains Gold-Bar Scams Targeting Seniors

A former Secret Service agent is warning about scams in which impostors persuade seniors to turn their savings into gold bars and hand them to couriers posing as government representatives.

Tom Hyslip, a University of South Florida cybercrime professor, described the scheme in an interview with Fox News. Fraudsters can build trust with victims over time before claiming that their money is at risk and must be moved for safekeeping.

The scheme can begin with a fake computer-security alert. A victim who calls the number on the screen is then transferred to someone claiming to represent a federal agency. The impostors tell the victim to buy gold or withdraw cash, then arrange for a courier to collect it.

The FBI has warned that government agencies do not ask people to buy gold or hand cash to couriers to protect their money. People who receive such a demand should stop communicating with the caller, contact their bank using a number they know is genuine and report the incident to law enforcement.

The video below is from Fox News. It discusses an ongoing scam pattern, not a newly announced federal program or a new warning issued this morning.