Ever had a stranger call and claim to be your sweet grandchild needing “just a bit of cash” for an emergency? Unfortunately, it’s happening too often. Stride Credit Union’s Eastern Regional Branch Manager, Patrick Callin, shares how his team is helping to tackle this sneaky scam. Let’s get into what’s going on, who’s affected, and how to keep your loved ones safe.
The Grandparent Scam Unveiled
These scams target seniors, tricking them into believing their grandchild is in trouble and needs immediate help. Scammers impersonate family members, often calling late at night to add urgency and emotional pull. Callin’s team at Stride sees around 15 of these scam-related calls a day, especially from seniors worried about their “grandkids.”
How It Works
- The Fake Call: Scammers call claiming to be a grandchild in distress, often sounding emotional and asking for discretion.
- Urgency & Confidentiality: They create a sense of emergency, requesting money to be sent immediately—no questions asked.
- Instructions for Lying: Victims are sometimes told to avoid telling anyone, including the bank or law enforcement, about the transfer.
Who’s Targeted
This scam mainly targets seniors, who are more likely to respond to a distress call for help. Scammers count on the natural protective instinct of grandparents, who want to shield their family from harm, making seniors more vulnerable to these emotional pleas.
Real-Life Example
According to Callin, Stride Credit Union’s staff has spotted multiple cases where members have nearly lost large sums to this scam. The close relationships between staff and members mean they can ask questions if they see unusual transactions, helping to catch these scams before it’s too late. “We’re lucky to build trust with our members—they appreciate that we’re here to help keep them safe,” says Callin.
Why You Should Care
If a loved one falls victim to this scam, they could lose their savings and confidence, often feeling ashamed or isolated afterward. Beyond the financial loss, the emotional toll is significant, leaving victims shaken and hesitant to trust.
Protecting Against the Grandparent Scam
- Encourage Open Dialogue: Remind loved ones to share any unusual calls or requests with trusted family or friends.
- Verify the Caller’s Identity: Always double-check with family members if you get a strange request, even if it sounds real.
- Stay Informed: Knowledge is power! Talk openly about common scams like these, especially with seniors.
- Avoid Rushed Decisions: Scammers create urgency. Take a moment to breathe and verify.
- Remind Loved Ones Not to Lie for Scammers: Scammers might ask victims to hide the transfer or keep it secret. This is a red flag!
Quick Tips for Safety
- Did you know? Most legitimate organizations will never ask you to keep transactions secret.
- Pro Tip: If a call feels off, hang up and call the person back using a trusted number.
Key Terms
- Grandparent Scam: A scam where fraudsters pretend to be a grandchild in trouble, needing immediate financial help.
- Impersonation: When a scammer pretends to be someone they’re not to deceive others.
- Urgency: Scammers create a false sense of rush to prevent victims from thinking clearly or verifying the story.
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