‘Grandparents’ scam increases during school vacations
Wednesday, November 19, 2014
New York Attorney General Eric Schneiderman has asked colleges and universities to help combat the so-called “grandparent scam,” where perpetrators impersonate relatives in need and then dupe unsuspecting seniors into sending them money. The scam involves a call to a senior citizen in which the caller impersonates a grandchild claiming to be in serious trouble and asks the unsuspecting grandparent to wire money immediately. The Federal Trade Commission recorded more than 40,000 incidents of grandparent scams from 2010 to 2013 and the scam is widely considered to be underreported. The Attorney General warns that the grandparent scam tends to increase in frequency during school breaks, like the upcoming December/January vacation, when it is especially believable that a grandchild would be traveling. Often, the scammer will pose as a grandchild in college, claiming to be in legal trouble or even physical danger.
“It is despicable that these scammers abuse the love that grandparents have for their grandchildren to dupe them into thinking they are helping a family member,” says Schneiderman. “With the holidays approaching and winter vacation around the corner … my hope is that [colleges and universities] can help us make your students and their families aware of the scam.”
Last month, the Attorney General launched an intergenerational initiative, “Grandkids Against The Grandparent Scam,” to get older adults the information they need to avoid becoming victims. Given the tendency of scammers to impersonate college students as part of this scam, the Attorney General has asked all of New York’s higher-education institutions to make their students aware of the initiative. The program provides students with specifics about how the scam works and an informational brochure to share with their parents and grandparents. The brochure offers students a script and other tips to warn their grandparents about this dangerous scam. A copy of the Grandkids Against The Grandparent Scam brochure (PDF) is available here. Some of the tips include:
- Be suspicious of anyone who calls unexpectedly asking you to wire money.
- Verify any supposed emergency, by calling friends and family, before wiring money.
- Develop a secret code or "password" with family members that can be used to verify a true emergency.
- Limit personal information, such as vacation plans, shared on social media sites.
Consumer Action's Elder Fraud MoneyWi$e training module and its Senior scams: Just say NO! brochure has more information about the scheme.