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WHAT ARE GRANDPARENT SCAMS?

On Behalf of | Aug 5, 2020 | Fraud

There are many scams in the world today designed for the sole purpose of getting your money. Unfortunately, elderly individuals are often the target of many of these scams. Forbes Magazine refers to these types of scams as ‘Grandparent Scams’. Scammers hope that their tricks will work to get some cash from unsuspecting victims. If you have an elderly relative or senior that you care for in North Carolina, it is important that you are aware of such scams and know how to spot them.

Many times, a scammer will call and pretend they are a relative or someone close to the victim. The scammer will then request that money be sent right away to help get them out of trouble or prevent something bad from happening. A scammer will often tell a story about how they are in legal trouble and require monetary assistance. This is designed to play on a victim’s emotions and sympathy, which they’ve found often works on older individuals.

Educating yourself on what a scam consists of and knowing how to spot them is essential. This information should be passed on to the older individuals in your life. Make it clear to them that they should NEVER send money to anyone over the phone, in any form.

We’ve also heard of instances where scammers request gift cards instead of money. This is a huge red flag. Another red flag is that often times scammers tell the victim that the transaction should be kept a secret. Even if a scammer does not say this, elderly people often don’t tell anyone, even if they know they have been scammed, because they are too embarrassed that they have fallen for it.

This information is for education and is not legal advice.

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