Half a million American seniors were victims of fraud due to a Grandparent Scam
The “Grandparent Scam” is not something new, however lately it has been getting a lot of media coverage both nationally and locally. Montgomery County Sheriff, Rob Streck recently commented on the increase of scam reportings by the elderly. In a recent interview Streck expressed the need for the community to be very cautious and aware of these scams targeted towards the elderly. “The emotional manipulation involved in these scams is truly troubling. We urge residents to be vigilant and verify the authenticity of such calls before taking any action and to report any suspicious activity to local law enforcement.” According to the Federal Trade Commission, “In 2022, nearly half a million American seniors were victims of fraud, losing $1,000-$1,800 on average”.
What exactly is the Grandparent Scam?
Typically, an elderly person is contacted, usually by phone, by a scammer posing as a grandchild in danger. They will try to convince the victim that they are in great danger and that they need their help in the way of money. Some of the common emergencies are that they were arrested and will be going to jail, or they have been in a horrible accident, or they have been robbed while traveling abroad, or have even been kidnapped. Often these calls are in the middle of the night when the victim is not fully awake. The scammer will usually start the conversation with Hello Grandmother or Grandfather it’s me, in hope that the grandparent will say his or her name.
The caller will appear to be in hysterics and often sobbing so that the victim will be confused. The phone is then handed over to a third party who claims to be someone in authority such as a lawyer, a policeman, or a kidnapper. This caller will say that in order for their family member to be protected, they must pay money either by providing cash or buying gift cards. The scammer will offer to send a courier to pick up payment, or they will provide the information on how to transfer the necessary funds.
What to do if you are called by a scammer who pretends to be one of your grandchildren or family member
Scammers are counting on preying on your emotions and will try to make you afraid. Try to slow down, trust your gut, and think it through. Is this really your grandchild? Ask him or her questions that only they would know and if they cannot or will not answer those questions it is most likely a scammer. Follow up by calling that family member right away to confirm your suspicion. If you can’t get in contact with them call other family members who might know more. Scammers often encourage their victims not to tell anyone else, but that indeed is a red flag. Do verify information with other family members.
If you are told by the “authority” to provide funds and also to provide other personal information, hang up and call that police station, or the agency that they claim to be associated with to verify that the situation is either legitimate or if it is a scam. Do not give the caller any personal information. They may or may not already have some information, but most likely will be phishing for more personal details such as your address or account information.
Do not send any type of payment without first confirming the recipient’s identity. Scammers will often ask for payment by gift card such as Amazon or iTunes. They are not traceable, and a legitimate authority figure or agency would never request payment by gift card. Also don’t use any type of payment app or wire transfer as once the money is sent one of those ways, the money is gone. Also keep in mind that no agency would send a courier to your home to pick up money.
<Talking to elderly parents about the Grandparent Scam
Do report any scam or fraud to an authority. File a report with your local police so they can begin an investigation. Reporting to the Federal Trade Commission is smart as they are the agency that tracks the latest scams. The FTC can be reached at their hot line 877-382-4357. If you were a victim or an attempted victim you can report it to the FBI Internet Crime Complaint Center at IC3.gov
More Americans are getting older and living longer, and unfortunately they are being targeted for scammers. Talking to your older family members can be important to help them become safe while retaining their dignity and independence. They may not even be aware of these scams. Technology changes so quickly and senior citizens can be intimidated by it and often feel that they just don’t understand what is happening. By discussing the new types of scams you may hear about or read about, it will make them more aware of what they should be looking out for. Tell them that if they get a call they deem suspicious, hang up and call the grandchild or person in question directly.
We make it a priority to try to help keep our community aware of these consumer scams! Click here to read our prior posts on the Ohio Family Law Blog dealing with area scams and fraud. Report suspected scams at www.bbb.org/scamtracker. Stay up to date by signing up for Scam Alerts.
OTHER RESOURCES:
Go to BBB.org/ScamTracker to report a scam, learn more about other risky scams on BBB.org/ScamTips and visit their news feed.
To learn more about the Better Business Bureau www.bbb.org.
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Joseph Balmer manages the Probate, Trust and Estate Administration department at Dayton, Ohio, law firm, Holzfaster, Cecil, McKnight & Mues, and has been certified by the Ohio State Bar Association as a specialist in Estate Planning, Trust and Probate Law since 2006.
