Is that call really from a grandchild in trouble? Unfortunately, it could be a scam.

While technology can connect us to loved ones, it can also expose us to new vulnerabilities that scammers are ready to exploit. One particularly disturbing scheme is the grandparent scheme, which preys on the concern grandparents have on their grandchildren. This article will help you recognize the signs of a grandparent scam and offer practical tips to prevent your family members from becoming victims.

What is a Grandparent Scam?

In this scam, the fraudster calls or emails, pretending to be a grandchild in a desperate situation, such as being arrested, hospitalized, or stranded in a foreign country. They often use urgent language, claiming to need money immediately for bail, medical bills, or travel expenses. To make the scam more convincing, they may have gathered personal information about the family from social media or other online sources.

Example of the Scam

A grandmother receives a frantic phone call. The caller claims to be her grandson. He says he’s been arrested in Mexico and needs money for bail. He begs her not to tell his parents, as they would be angry. The grandmother, worried about her grandson’s safety, rushes to wire the money as instructed. Not only has the grandmother lost the money she sent, but she’s also opened herself up to possible identity theft, another danger of this scam.

Tips for Protecting Yourself

If you think you’ve been scammed, act quickly to protect yourself:

• Pause before you act. Resist the urge to act immediately, no matter how urgent the situation seems. Collect your thoughts and verify the caller’s identity.
• Ask personal questions. Verify the caller’s identity by asking personal questions that a stranger wouldn’t know, such as the name of your grandchild’s pet.
• Contact family directly. Reach out to your grandchild or another family member directly to confirm the situation. Don’t rely on the information provided by the caller.
• Avoid untraceable payments. Never send money through wire transfers, gift cards, or other untraceable methods. Legitimate organizations and family members will not pressure you to use these payment methods.
• Protect your information. Be cautious about sharing personal information online, as scammers can use it to make their stories more believable.

If You’ve Been Scammed

If you think you’ve been scammed, act quickly to protect yourself:

• Contact us. If your account information has been compromised or if you believe you’ve mistakenly paid a scammer, let us know.
• Report the scam to the FTC. File a report with the Federal Trade Commission at ReportFraud.FTC.gov and your local law enforcement agency.
• Report the scam to your state attorney general. You can find their contact information at naag.org.
• Spread the word. Share your experience with friends and family to raise awareness of the scam and protect others from becoming victims.