Grandparent Scams are on the Rise

7/19/2012

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Grandparent scams are on the rise, according to Times’ Moneyland. Retirees have long been ideal victims for scammers due to their savings, trusting nature, and occasional deteriorating mental state, and scammers are targeting these weaknesses in the latest grandparent scam. Scammers will call elderly Americans and claim to be a grandchild who has been arrested or injured in a foreign country and needs money to be wired to them ASAP. These incidents often go unreported because elders are embarrassed and don’t want to seem as if they are incapable of taking care of themselves.
 
Read the full Moneyland article here.
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