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Financial crises can occur from anywhere, even when someone is in their golden years. This brings us to the topic of grandparent scams, which affect a number of older men and women around the world. The people behind said scams hone in on the empathy of others, stealing money from them in the process. When it comes to grandparent scans, from what they entail to how they can be avoided, here is what Robert Jain can tell you.
Let's say that, one day, a grandparent receives a phone call from someone claiming to be their grandchild. This individual will tell them that they need money quickly, either for medical reasons, rent coverage, or what have you. Before long, the grandparent will send the money over, not knowing that they've just been fooled by a fraudster until it's too late. As names such as Bob Jain will attest, this is a serious form of fraud.
Grandparent scams, as serious as they are, can be prevented if you know what to do. You can get in touch with other family members, telling them that you've been contacted by a grandchild. Depending on how well they know the relative in question, they will either confirm their story or refute what you've been told. Regardless of what they say, speaking to your family before sending money is a smart course of action.
Next, be mindful of the only method of transferring money they suggest is wire transfer. This seems to be the most commonly associated with grandparent scams, and to say that it should be cause for concern would be an understatement. You may even suggest sending money through PayPal or some other digital means. If they continually insist on the wire transfer without any further explanation, you'd be wise to cut off the connection entirely.
Even though the majority of grandparent scams occur over the phone, a fair amount can be experienced online. What this means is that protection on the Internet is necessary. Most computers have firewalls already set up, but you should take things a few steps further by installing antivirus software that operates online and off of the Internet. Most antivirus tools have free versions, and they aren't difficult to track down either, so protection is fairly easy to come by.
Let's say that, one day, a grandparent receives a phone call from someone claiming to be their grandchild. This individual will tell them that they need money quickly, either for medical reasons, rent coverage, or what have you. Before long, the grandparent will send the money over, not knowing that they've just been fooled by a fraudster until it's too late. As names such as Bob Jain will attest, this is a serious form of fraud.
Grandparent scams, as serious as they are, can be prevented if you know what to do. You can get in touch with other family members, telling them that you've been contacted by a grandchild. Depending on how well they know the relative in question, they will either confirm their story or refute what you've been told. Regardless of what they say, speaking to your family before sending money is a smart course of action.
Next, be mindful of the only method of transferring money they suggest is wire transfer. This seems to be the most commonly associated with grandparent scams, and to say that it should be cause for concern would be an understatement. You may even suggest sending money through PayPal or some other digital means. If they continually insist on the wire transfer without any further explanation, you'd be wise to cut off the connection entirely.
Even though the majority of grandparent scams occur over the phone, a fair amount can be experienced online. What this means is that protection on the Internet is necessary. Most computers have firewalls already set up, but you should take things a few steps further by installing antivirus software that operates online and off of the Internet. Most antivirus tools have free versions, and they aren't difficult to track down either, so protection is fairly easy to come by.
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For more information about grandparent scams and other financial topics, please contact Bobby Jain now.. This article, Robert Jain & The Important Details Regarding Grandparent Scams is available for free reprint.
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