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The grandparent scheme has seemed to supplant the IRS scam in prevalence.Quinn said that scam was more regularly seen six or seven years ago. "They would call and say it's the IRS. You owe money.
Also commonly known as "grandparent scams," a fraudster will impersonate an individual's loved one and claim they are in trouble, or need cash immediately for some sort of emergency.
The National Council on Aging recently reported that 92,731 older adults were victims of fraud and scams in 2021, leading to $1.7 billion in total losses. These scams may be especially prevalent...
Sixteen individuals have been charged in connection with a "grandparent scam" in which hundreds of elderly people were defrauded out of millions of dollars, said U.S. Attorney Philip R. Sellinger.
The grandparent scam has been around for ages but in the midst of a pandemic, people are way more likely to fall for a hoax that involves a family member in crisis, according to the FTC.
Scams and confidence tricks are difficult to classify, because they change often and often contain elements of more than one type. Throughout this list, the perpetrator of the confidence trick is called the "con artist" or simply "artist", and the intended victim is the "mark".
A savvy bank teller kept a local grandmother from falling victim to a recent grandparent scam, a type of fraud that tries to scare people into turning over money to save a loved one in crisis.
Tips to Protect Against Grandparent Scams Be suspicious of anyone who calls unexpectedly asking for cash. Verify any supposed emergency, by calling friends and family, before wiring money.