The Grandparents Scam

The Grandparents Scam: This scam is 50 years old and still nets more victims each year. Last year $41MM was scammed from seniors! The senior gets a call saying, “Hi Grandma (or Grandpa), do you know who this is?” When the unsuspecting grandparent says the name of the grandchild, the scammer says yes and I’m in trouble (need to pay rent, had a car accident, in jail, etc.) and please don’t tell Mom or Dad. Would you just wire me money to take care of this and I’ll pay you back? They then direct the grandparent to wire the money via Western Union or MoneyGram.

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