News & Tips
How to Spot and Avoid the Grandparents Scam
Imagine your phone ringing late at night. Someone on the other end sounds panicked, claiming to be your grandchild in serious trouble. They might say they've been in an accident, got arrested, or are stuck in another country. They plead for your help and ask you not to tell anyone else in the family.
Situations like these have become more common and the scammers pulling the strings are getting more advanced each year. By learning more about this scam, you can spot their tricks, keep your money, and keep your loved ones safe.
What Exactly Is the Grandparents Scam?
The grandparents scam is a type of fraud where someone pretends to be a young family member in trouble. The caller tries to sound convincing, often acting frightened or urgent, to get you to send money quickly. Scammers pick up details about your family from social media or online sources to make their story more believable.
Over the years, technology has vastly evolved, making it easier for criminals to use tools that allow them to sound even more like someone you know.
Warning Signs: How to Spot a Scam
No matter how convincing the caller is, look for these red flags:
! The call comes unexpectedly, especially late at night or early in the morning.
! Asking you to keep the situation secret.
! Urging you to send money immediately before you can verify details.
! Their story has missing or confusing details.
! Pressuring you to pay in unusual methods.
Steps to Protect Yourself and Your Family
You don’t have to be a technology expert to outsmart these scammers. Here’s what you can do:
1. Pause and Verify the Caller’s Identity
Hang up and call your grandchild, or another family member, using a number you trust and have received directly from them. Never use the number provided by the caller. If you can’t reach your grandchild, check with others who may know where they are.
2. Ask Questions Only Family Would Know
If you’re not sure who is calling, test them by asking questions about family details, only the real person would be able to answer. If they’re a scammer, it’ll be difficult for them to answer these questions and they’ll be caught in a lie.
3. Watch Out for Unusual Payment Requests
Be suspicious if someone asks for payment by wire transfer, prepaid gift cards, cryptocurrency, or cash sent by mail or courier. Real emergencies rarely involve these methods.
What If You Sent Money or Gave Out Information?
If you realize you’ve sent money or shared your information with a scammer, here’s what to do:
Contact your financial institution right away and explain what happened. They may be able to help stop or reverse the transaction.
Report the scam to the Federal Trade Commission (FTC) at ReportFraud.ftc.gov.
Tell your local law enforcement. Your report can help keep others from falling for the same tricks.
Remember, agencies like Social Security or law enforcement agencies will never demand urgent payment or sensitive details over the phone.
Extra Steps to Stay Secure
Make your social media accounts private and limit the personal information you share online.
Never share account numbers, PINs, or online banking credentials over the phone, over chat, email or text
Be cautious when opening attachments from anyone you don’t know.
Set up protections like call blocking apps to screen unknown numbers.
Create communication plans with your family for emergencies to prevent confusion and panic.
Share what you learn with others, especially seniors in your community.
Your Security Is Our Priority
As your trusted financial institution, we’re always watching out for you and keeping you informed about scams. For more resources and information, check out our Fraud Prevention Center.