Senior Fraud Series: Grandparent Scams
A grandparent scam is a type of fraud that preys on the emotions and concern of seniors, tricking them into sending money to someone they believe to be a grandchild or a person claiming to represent their grandchild. The scammer typically poses as the grandchild and falsely claims to be in a dire situation, such as legal trouble, a car accident, or a medical emergency. The goal is to exploit the grandparent's love and desire to help their grandchild, often without verifying the caller's true identity.
Here's how a grandparent scam typically works:
Initial Contact: The scam usually begins with a phone call. The scammer might say something like, "Hi Grandma, it's your favorite grandson," without mentioning their name. They may rely on the grandparent to provide them with the grandchild's name.
Crisis Story: The scammer then fabricates a convincing and urgent story, claiming they are in trouble and need financial assistance. This story often includes scenarios such as being arrested and needing bail money, being in an accident and needing money, having their wallet or ID stolen, or even facing legal issues and needing money for legal fees.
Emotional Manipulation: The scammer tries to evoke strong emotions from the grandparent, such as fear or concern for their grandchild's safety. They may use phrases like "Please don't tell mom and dad; I'm embarrassed" to discourage the grandparent from verifying the story with other family members.
Urgent Request for Money: The scammer insists that the grandparent must send money quickly, often requesting it to be wired through services like Western Union or MoneyGram, which are difficult to trace.
No Follow-Up: After receiving the money, the scammer typically disappears, and the grandparent may never hear from them again. The money is usually impossible to recover.
To protect yourself or your loved ones from falling victim to a grandparent scam:
Verify the Caller: Ask the caller personal questions that only your grandchild would know, such as their middle name, birthday, or a shared childhood memory. Scammers often can't answer these questions.
Check with Family: Before sending money, contact other family members to confirm the situation. The scammer often urges secrecy, so don't be rushed into making a decision.
Be Skeptical of Unsolicited Calls: If you receive an unexpected call from someone claiming to be a grandchild in trouble, take your time to verify their identity, even if they sound distressed.
Never Send Money to an Unknown Recipient: Avoid sending money to anyone you haven't personally verified as legitimate. Once money is sent via wire transfer, it's challenging to recover.
Educate Seniors: Inform older family members about the existence of grandparent scams and remind them to stay cautious of unsolicited calls.
Report Scams: If you believe you've encountered a grandparent scam or any fraudulent activity, report it to your local authorities and the Federal Trade Commission (FTC) in the United States. Reporting can help prevent others from falling victim.
