A grandparent scam is a type of social engineering fraud that targets seniors, specifically grandparents. Scammers typically impersonate a grandchild (or another close relative) in distress and attempt to trick the grandparent into sending money or revealing personal information.
Here’s a breakdown of how the scam works:
* The scammer contacts the victim, usually by phone, posing as a grandchild or other relative.
* The scammer fabricates a story about being in trouble, needing money urgently. Common scenarios involve car accidents, arrests in foreign countries, or medical emergencies.
* The scammer preys on the grandparent’s love and concern for their grandchild, creating a sense of urgency and panic.
* The scammer might instruct the grandparent not to tell anyone else about the situation, further isolating the victim.
* The scammer then requests money to be wired or sent electronically, or asks for personal details like bank account information.
Here are some red flags to be aware of:
* If a grandparent receives a call from a supposed grandchild they haven’t spoken to in a while, it’s a cause for caution.
* Grandchildren in genuine emergencies would likely contact their parents first. Be wary of any immediate financial demands.
* Scammers often try to rush the transaction and discourage the grandparent from verifying the situation with other family members.
* If the call comes from an unknown number, especially with a different area code, be suspicious.
How to protect yourself from a grandparent scam:
* Always try to verify the situation directly with the grandchild or another close family member before sending any money.
* Never share personal details like bank account numbers or social security numbers over the phone, especially with unsolicited callers.
* If you suspect a scam attempt, report it to the authorities and raise awareness among other family members.
Here’s a breakdown of how the scam works:
* The scammer contacts the victim, usually by phone, posing as a grandchild or other relative.
* The scammer fabricates a story about being in trouble, needing money urgently. Common scenarios involve car accidents, arrests in foreign countries, or medical emergencies.
* The scammer preys on the grandparent’s love and concern for their grandchild, creating a sense of urgency and panic.
* The scammer might instruct the grandparent not to tell anyone else about the situation, further isolating the victim.
* The scammer then requests money to be wired or sent electronically, or asks for personal details like bank account information.
Here are some red flags to be aware of:
* If a grandparent receives a call from a supposed grandchild they haven’t spoken to in a while, it’s a cause for caution.
* Grandchildren in genuine emergencies would likely contact their parents first. Be wary of any immediate financial demands.
* Scammers often try to rush the transaction and discourage the grandparent from verifying the situation with other family members.
* If the call comes from an unknown number, especially with a different area code, be suspicious.
How to protect yourself from a grandparent scam:
* Always try to verify the situation directly with the grandchild or another close family member before sending any money.
* Never share personal details like bank account numbers or social security numbers over the phone, especially with unsolicited callers.
* If you suspect a scam attempt, report it to the authorities and raise awareness among other family members.