You value the older adults in your life, from your aunts and uncles to your parents and grandparents. In a perfect world, no one enjoying their retirement would ever be scammed. Seniors over the age of 70 should be able to spend time with family & friends and pursue their hobbies. Unfortunately, that is not always the case. The Consumer Sentinel Network reports a high number of retirees are tricked out of cash.<\/p>\n
In 2018, there was a dramatic increase in the (median) dollar amount which people age 70 and up lost money due to fraud. Many in this age group reported losing large amounts of cash to scammers (who pretended to be their grandchild, family members, or friends). Since the median cash amount lost was $9,000, the Federal Trade Commission (FTC<\/a>) has spoken up about this sharp increase.<\/p>\n[aesop_image img=”https:\/\/socialcatfish.com\/scamfish\/wp-content\/uploads\/2019\/04\/My-Post-14.jpg” panorama=”off” imgwidth=”200″ offset=”200″ align=”center” lightbox=”off” captionposition=”left” revealfx=”off” overlay_revealfx=”off”]\n Your grandparents would do anything for you, which is why these types of scams are so successful. Worryingly, Sentinel also reports that the median loss to friends and family imposters is about $2,000 (per all age groups), but the significant increase (+$7,000) in loss has happened to people age 70 and over.<\/p>\n Also, since these imposters pretend to be the very people grandparents love most, the FTC is working hard to educate the public against these types of crimes. Not only should you share this with others, but if you are a grandchild, be sure to share our article and warn your grandparents that this type of scam happens.<\/p>\n This is no small problem:<\/strong><\/p>\n 1 in 4 people age 70+ lost money by sending imposter cash in a “family and friend” scam. The general population only had this happen 1 in 25 times (compared to other types of fraud).<\/p>\n Stop and think (no matter how late you receive the call or how urgent it sounds). The more far-fetched and dramatic the story, the more likely it is to be fake.<\/p>\n Trust your instincts and consider if this situation sounds out of character for your grandchild.<\/p>\n Also, regardless of what the imposter says or how much they sound like or seem to be your grandchild, ask to call them back at their direct cell number. Scammers can \u201cspoof\u201d phone numbers and may appear to be calling from your grandchild\u2019s cell or home number when they aren\u2019t.<\/p>\n Even if they say that you should not tell their parents, call and verify where your grandchild is and if they have spoken to them recently.<\/p>\n Be careful what details you post about yourself or your grandchildren online. You can search for available information about you and your family on the web. You can also search the phone number<\/a> that called you, to determine whom you\u2019re speaking with.<\/p>\nHow Imposter Scams Work<\/h2>\n
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How to Prevent Imposter Scams<\/h2>\n