Guy in black mask on phone with older woman looking at credit card

The Grandparent Scam

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Scammers are always trying to find their next victim, and grandparents are no exception.  By posing as a grandchild who is in trouble, cybercriminals use The Grandparent Scam to seek out grandparents who are willing to help their loved ones. Here are a few elements of the Grandparent Scam to be aware of:

   •  Scammers pretend to be your grandchild and typically call in the middle of the night
   •  They tell you they are in some sort of trouble and need your help
   •  They tell you to keep it a secret and not to tell their parents
   •  There is often a second person that poses as an official who validates the claim
   •  They ask you to wire money, or send it another way, to get them out of trouble

 

According to AARP, from 2015 through the first quarter of 2020, the Federal Trade Commission logged more than 91,000 reports of scammers posing as a relative or friend of the victim.

 

If this has happened to you, you can report any fraud to the FTC by calling 877-382-4357. To learn more about the Grandparent Scam, click here.

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Categories: CapFed® News , Safety and Security
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