We’ve previously chronicled the rise of the grandparent scam, wherein a telephone scammer poses as a relative or grandchild and calls an elderly person, citing an emergency and asking him or her to send money or account information immediately.
So, how do these scams work? Frequently, a caller will make contact and when the target answers the phone, the caller will respond with: “Hi, Grandma” or “Hi, Grandpa,” in hopes to establish a connection that will confuse the elderly phone victim and make him or her more likely to share their financial information or wire money to the fraudster. These con artists usually concoct a scheme where they pose as a grandchild and may say something along the lines of, “My car broke down and in order to get it fixed and come home, I need money,” or may pretend to need bail money, or that they’ve been mugged. Sensing an emergency, the elder may supply their personal financial information to the caller, unknowingly playing into the hands of the con-artists.
Unfortunately, this scheme is sometimes extended, as the personal information of the victim is shared with other scam organizations who may place follow-up calls, promising that your money can be returned if you follow a few steps. Many of these fraudulent caller organizations work in tandem to take advantage of elderly citizens. The sad news is that in San Diego and around the country, telemarketing and call scams are on the rise, and prove to be a real danger for the financial stability of America’s elder population.