Many of you are familiar with the grandparent scam where a grandparent receives a telephone call from someone purporting to be their grandchild who has gotten into some trouble, most commonly a traffic accident, legal trouble or medical problems in a far away place. The caller pleads for the grandparent to wire some money immediately to help resolve the problem. However the caller also begs the grandparent not to tell mom and dad. One would think that no one would be gullible enough to fall for this scam, but don’t be so hard on the victims of this scam. Scam artists, the only criminals we refer to as artists, have a knowledge of psychology of which Freud would have been envious and are able to use that knowledge to persuade their victims to send money right away. While this scam has been going on for thirteen years, it continues to victimize people. The Federal Trade Commission has warned people about a new version of this scam in which the grandparents receive a call purportedly from a grandchild who is ill with the Coronavirus and needs immediate funds sent to him or her. More recently, Boone County, Kentucky law enforcement issued a warning about a new frightening development in this scam in which unlike the usual case where the scammers ask for payment by credit card or gift cards over the phone, or by wiring or mailing funds the Kentucky scammers are actually coming to the homes of their victims and demanding cash payment. According to the Boone County Sheriff’s Office intimidated victims have been swindled out of as much as $15,000.
Sometimes the scammers do not know the name of their victim’s grandchildren, but often they do. Sometimes they get this information from reading obituaries of a grandparent which may contain the names of grandchildren so merely because the correct name is used in the call is no reason to believe the call. Don’t respond immediately to such a call without calling the real grandchild on his or her cell phone or call the parents and confirm the whereabouts of the grandchild. If a medical problem is the ruse used, you can call the real hospital. If legal problems are the hook you can call the real police. You can also test the caller with a question that could be answered only by the real grandchild, but make sure that it really is a question that only the real grandchild could answer and not just anyone who might read the real grandchild’ s Facebook page or other social media. Grandchildren sharing too much personal information on social media often unwittingly supply the information needed by the scammers to make their scams more believable.
Never wire money unless you are absolutely sure about to whom you are wiring the money and it is not a scam. Once you have wired money, it is gone forever.
Here is a video created by the FTC that tells you more about the grandparent scam.
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