Fighting Fraud
By Better Business Bureau Serving Greater Cleveland
Better Business Bureau® (BBB®) is urging older adults and their families to stay vigilant as imposter scams continue to rise. One particular imposter scam, the ever-evolving “grandparent scam,” continues to make headlines. These scams exploit the love and concern grandparents have for their families, especially their grandchildren, and can result in significant financial losses.
“Grandparent scams tug on the heartstrings,” says Pamela Anson, President and CEO of BBB Cleveland. “When a grandchild is in distress, it’s understandable that the first thing you want to do is help. It’s easy to get lost in the emotion of the situation and oftentimes hard to remain calm and level-headed, but that’s exactly what the scammer wants.”
How the scam works:
Scammers call or text pretending to be a grandchild in urgent trouble, such as being in jail or involved in an accident. They often plead with the grandparent not to call mom or dad and always ask for money. With the use of AI, the voice can sound nearly identical to a relative, making the scam believable.
Red flags to watch for:
- Resist the urge to act immediately. One of the tactics con artists use most in these situations is urgency. Because the story involves someone in jail or a hospital, they will often convince you to wire money quickly. Never feel the need to act immediately.
- Call your relatives. The scammer will more than likely say not to call anyone, including a parent; however, hanging up and calling a relative directly will ensure you can confirm or deny the situation.
- Verify the caller’s identity. Ask specific and targeted questions that a stranger couldn’t possibly answer, such as a middle name or the name of their elementary school.
- Don’t send money. Scammers may ask for money in the form of cash, money transfers, or gift cards. Don’t send funds until you can validate the contact and the situation.
If you’ve been the victim of a grandparent scam, report it to the BBB Scam Tracker. Your report helps us build consumer awareness and reduce the effectiveness of scammers’ favorite tactics. Have additional questions? Reach out to your BBB at 216.241.7678 or [email protected].
