Beware of emergency scams
Emergency scams might start like this.
“Grandma? Is that you?”
“What’s the matter, honey?”
“Grandma, you gotta help me! They will arrest me if I don’t pay the fine — and I lost my wallet! I don’t have a penny on me or any ID. Can you wire me some money?”
Does this sound like a phone call that can really tug at your heartstrings? It’s actually more like a sinister plot by devious scammers. There’s no emergency, no imminent arrest, and no lost wallet. It isn’t even your grandchild on the line; you’re speaking to a criminal who wants to get their hands on your money.
Don’t be the next mark of this ruse! Read on to learn how to identify an emergency scam and what to do if you are a victim.
3 ways to spot an emergency scam:
1. The caller will insist upon absolute secrecy.
Once your “grandchild” has had their say, the scammer will then take the phone, impersonating an authority figure who is out to make the arrest and demanding that payment immediately. They’ll stress the importance of keeping the entire business hush-hush so nobody gets hurt. But, of course, the real reason behind their need for secrecy is to keep you from doing too much digging and identifying the scam for what it is. Any actual law enforcement officer would have no request for such secrecy.
2. The “authority figure” will only accept certain means of payment
If you ever receive a phone call insisting that you wire money, or send a prepaid debit card, cashier’s check, or certified check in return for helping your grandchild from a distressing situation, you can be certain it’s a scam. Criminals love these payment methods because they give the victim very little recourse after discovering the scam.
3. Your “grandchild” does not know basic information about themselves or their family
It’s hard not to be conned into helping out your grandchild when they sound so stressed on the phone. It can also be hard to recognize your grandchild’s voice over a phone with iffy reception or an overseas phone call if your grandchild is abroad. To make it even more complicated, scammers will use any information they can find about your grandchild’s life to appear legitimate. If the scam is through email, they may even hack your grandchild’s email account, so their message appears to be coming directly from your grandchild.
If you ever receive a call or an email like the one described above, simply ask the caller about personal details that a stranger cannot scrape off your grandchild’s social media accounts. Ask about specific family memories or jokes that will immediately let you know who you’re dealing with.
If you are scammed
If you’ve received a frantic phone call from your grandchild and believe it to be accurate, don’t react just yet. They will push you to act quickly, but take a minute to call your grandchild on your own to verify his or her whereabouts. You can also call the grandchild’s parents to ask where they might be now. You may be surprised to learn that your grandchild is safe at home!
If you’ve fallen for the scam and only recognized the ruse after you’ve sent your money, you may still be able to reclaim some or all of your funds by reporting the scam to the Federal Trade Commission at ftc.gov or by calling 1-877-FTC-HELP. Even if you can’t reclaim your lost funds, you’ll do your part to help the authorities put those crooks behind bars.
Now you know how to beware of emergency scams. Grandparenting is a wonderful experience. Don’t let scammers abuse your relationship with your grandchild by pulling the wool over your eyes. Stay one step ahead by being alert and knowing how to spot these scams. Show them that no one messes with Grandma! If you like this post, make sure to check out our MoneySmart Tips Blog for some other great tips.
