Are You a Grandparent at Risk for This Scam?
The "grandparent scam" is a phone scam that preys on the love and trust grandparents have for their grandchildren. Scammers pose as a distressed grandchild or another close relative, claiming to be in a crisis and urgently needing money. Using clever tricks and the latest technology, these criminals continue to deceive seniors and steal their savings. Here's how the scam works and what you can do to protect your loved ones.
How the Scam Works
The scam usually begins with a call to a senior, where the caller claims to be a grandchild in trouble — perhaps involved in a car accident or arrested and needing bail money. They often plead, "Please don't tell Mom or Dad," adding a sense of secrecy and urgency to their request.
Scammers may gather information from social media to make their story more convincing, or they may "spoof" the caller ID to make it look like the call is from a trusted source, such as a known phone number. In some cases, they hand the phone over to another person pretending to be a lawyer or police officer, demanding immediate payment via gift cards, wire transfers, or other untraceable methods.
Why It Works
The grandparent scam is effective because it exploits emotions. When faced with a call about a loved one in trouble, many seniors act quickly, without stopping to question whether the call is legitimate. Scammers know that fear and urgency can cloud judgment, making it easier to convince their targets to send money.
New technology, like artificial intelligence (AI), makes the scam even more convincing. Scammers can now use AI to mimic a grandchild's voice using just a short audio clip from social media. This makes it harder for seniors to distinguish between a genuine call and a scam.
How to Protect Your Loved Ones
Preventing these scams starts with awareness. Here are some tips to help protect your loved ones:
1. Listen for Red Flags: Remind your loved ones that a request for money over the phone is a red flag. Real bail payments are not handled over the phone but through the court system.
2. Don't Trust Caller ID: Explain that scammers can manipulate caller ID to make it look like the call is from a familiar number. Encourage them to hang up and call the supposed grandchild or another family member directly.
3. Verify the Story: Encourage them to hang up and verify the story by calling the person or another relative directly. Scammers often ask victims to keep the call secret, which is a significant red flag.
4. Discuss Scenarios in Advance: Talk with your family members about how they would respond to a potential scam. Role-playing these scenarios can help them stay calm and think clearly if they receive a suspicious call.
5. Stay Aware of New Technologies: Make sure they know about AI voice cloning and how it can be used to impersonate a loved one. Remind them that just because the voice sounds familiar doesn’t mean it’s genuine.
What to Do If You Fall Victim
If you or a loved one falls victim to a grandparent scam, act quickly:
• Contact Your Bank or Credit Card Company: Report the fraud immediately to prevent further unauthorized transactions.
• Report the Incident: Contact local law enforcement, the Federal Trade Commission (FTC), or the National Elder Fraud Hotline at 1-833-372-8311.
• Seek Support: Fraud can be emotionally devastating. Organizations like AARP offer free support groups to help victims cope.
The grandparent scam continues to evolve, using emotional manipulation and new technology to deceive seniors. Staying informed, discussing these risks with loved ones, and being vigilant can help protect against these harmful schemes. Remember: when in doubt, hang up and verify the story.
References: This Phone Scam Is Targeting Grandparents — But There Are Ways To Outwit It | 'Grandparent' Scams Get More Sophisticated
