Wednesday, September 30, 2015

The Grandparent Scam


Imagine receiving this phone call…….

“Mr. Smith, the is Constable McGarrett from the Royal Canadian Mounted Police. Your grandson Jacob was picked up trying to return to the U.S. with some marijuana in his pocket. His classmates from Grand Castle University are waiting on the other side of the border hoping he gets released.”

How does a scammer know you have a grandson Jacob who attends Grand Castle University? Probably Facebook. Or the newspaper announcement of your anniversary party. 

“Mr. Smith, Jacob cannot contact his parents. We would prefer not to hold him for prosecution, this is small stuff,  but to let him go we need a bond of $2500.  Jacob is hoping you can Western Union the money so he can go back to school. We can give you a routing number.”

If you ask to speak with your grandchild that will of course be impossible.

Could this scam really work? Almost every day.

A scammer can make a couple hundred of these calls a day. Most people slam the phone down, but if one or two a day bite on this scam, it is a $5000 profit.

Never send money anywhere to anyone without confirming the details. Do not let someone panic you.

The odds of recovering your money? 0%

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