Have you heard of the grandparents scam? Be sure to talk to your older loved ones about this scam so they don’t fall victim!

This scam typically begins when a fraudster, often based overseas, contacts an older adult and poses as either a grandchild, other family member or someone calling on behalf of a family member. Call recipients are told that their family member is in trouble — at times arrested or facing a serious illness — and is urgently in need of money. Fraudsters try to prevent their potential victims from talking with others by stating that the case is under a “gag order” or providing some other fictitious reason that the news cannot be shared. Fraudsters ask victims to pay various ways, most frequently cash, wire transfer or peer-to-peer apps. These scammers move fast and after an older adult makes one payment, they will get repeated requests for additional money.

If you or someone you love has been the subject of a financial scam, contact National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311)