FRAUD AWARENESS
Outsmarting the Grandparent Scam
Of the many types of scams commonly affecting consumers, one of the most nefarious is known as the Grandparent Scam. Through social engineering and other manipulative tactics, scammers attempt to defraud well-meaning individuals into sending money by pretending to be a relative in trouble and in need of financial assistance. This type of scam often targets elderly people who may be less familiar with technology. By tugging on their target’s heartstrings, the scammer attempts to trick them into acting quickly in order to get their loved one out of a tough situation. To avoid becoming a victim, read on and learn more about what to do if you are targeted in a similar way.
Real-life scenario: What does a grandparent scam typically look like?
Mary receives an unexpected phone call; the caller refers to her as ‘grandma’ and explains that they need her help. Mary doesn’t hear well, and asks if the caller is her granddaughter Fiona, to which the caller answers yes. ‘Fiona’ says they have been in a car accident in another province and their phone and car have been taken by police. ‘Fiona’ asks if Mary can provide an email money transfer to a specific email address so they can get back home to Ontario, and she asks that Mary not tell her parents as she doesn’t want to get in trouble. This all sounds very convincing to Mary, however this is not the real Fiona on the phone – Mary is the target of a Grandparent Scam.
How to avoid being a victim.
If you receive an unexpected call or email, do not provide any personal or identifying information as this could help the scammer to create an even more convincing profile of the person they are impersonating. If Mary had not given the scammer Fiona’s name, the scammer may not have been able to portray her as convincingly. To verify the details being provided by ‘Fiona’, Mary should have instead hung up and attempted to phone Fiona directly using the phone number she has used to contact her before. Failing that, by speaking with another relative close to Fiona, Mary would have been able to determine if the scammer’s story was legitimate.
Protect yourself from this type of scam by being wary of any unexpected call or message requesting urgent action – even if it sounds like someone you know. Always verify the details outside of the call, and never reveal any personal information that the scammer could use to trick you or someone else in the family. A good practice is to ask a question that only the real individual the scammer is claiming to be would know the answer to – such as a pet or relative’s name. While this may feel silly, it can be a quick way to determine if a call is legitimate. Always visit the Canadian Anti-Fraud Centre website for more helpful tips, and to report a scam or attempted scam if you have been targeted.
