This scam I find particularly disgusting as it preys upon our treasured seniors who’ve worked so hard their whole lives, but it also works on any family member who has a loved who appears to be in distress.
Unfortunately, I get asked this a lot, what is the the grandparent scam?
Scammers pose as as a grandchild, and call or text begging you to wire them money asap because they have an emergency like they need to get out of a foreign country, need help paying an expensive hospital bill or even need money to get out of jail. Their aim is to deceive you into sending them money prior to you realizing it’s a big fat scam!
So, what do you do?
Verify The Emergency
If somebody phones or sends you a text claiming to be your grandchild desperate for cash:
- Resist the temptation to take action immediately, no matter how tragic the story is.
- Verify the caller’s identity by asking them questions that a stranger would not be able to answer.
- Call your grandchild’s phone number that you know is authentic.
- Check out their story with your grandchild’s parents, even if they want you to keep it a secret.
- Don’t EVER wire money or send them a money order or check by courier or overnight delivery
- Report potential fraud by calling 1-877-FTC-HELP
Tricks Scammers Use
They convincingly impersonate your grandchild.
Surprisingly, it very easy for a scammer to impersonate someone. It’s a piece of cake with Social networking websites to find out family and personal information. Also, scammers could hack the email account of somebody you know. To make their tale seem even more legit, they might get another scammer to claim that they are a police office or lawyer.
They make you swear to secrecy.
Scammers might insist you keep their appeal for money hush-hush to prevent you from verifying their story and establishing them as an imposter.
Injured parties frequently don’t realize they have been deceived until days later, when they speak to their actual grandchild who doesn’t have clue about the “emergency.” At that point, the money they sent is long gone and can never be recovered.
They pressure you to wire the money immediately.
Scammers insist you wire the money because it’s just like sending them cash – once it’s been sent, you cannot trace it or ever get it back again. Imposters love using money transfer services so as to get your cash before you become aware you’ve been defrauded.
Check out this video below:
Here’s what this family did to expose their scammer!
The Bottom Line
So, I hope I’ve answered your question What Is The Grandparent Scam?” It’s sad to say, but this scam has been around for a long, long time and hopefully by reading this article you’ve been made aware of just how this scam goes down.
Please share this article with your friends and loved ones in order to keep them safe. Have you or anyone else been a victim of this scam? Please leave your comments below. I’d love to hear from you and it might tip others off to another variation of this scam.
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