How A Grandparent Scam Works
An elderly person picks up the phone. The person on the line is in a panic. They claim to be the senior’s grandchild, in a dilemma that requires money to be immediately sent. Panic spreads to the grandparent, who takes the instructions and sends the money. But there is no dilemma, and the grandchild is safe. This grandparent has been victimized by a Grandparent Scam. This overview talks about how the scheme works and what can be done to limit/prevent its occurrence in the future.