Financial crises can occur from anywhere, even when someone is in their golden years. This brings us to the topic of grandparent scams, which affect a number of older men and women around the world. The people behind said scams hone in on the empathy of others, stealing money from them in the process. When it comes to grandparent scans, from what they entail to how they can be avoided, here is what Robert Jain can tell you.
According to authorities on finance like Bob Jain, a grandparent scam is what occurs when an elderly individual receives a phone call from someone claiming to be their grandchildren. They may create a story that tugs at the other person's heartstrings, such as a medical emergency or a lost job. In short, they need money quickly. Worried about their grandchild, the victim will send money to the individual, only to eventually realize that they've been fooled. This is a serious financial matter that, more than anything else, preys on the empathy of others.
Grandparent scams, as serious as they are, can be prevented if you know what to do. You can get in touch with other family members, telling them that you've been contacted by a grandchild. Depending on how well they know the relative in question, they will either confirm their story or refute what you've been told. Regardless of what they say, speaking to your family before sending money is a smart course of action.
Did you also know that grandparent scams usually require the one being targeted to wire money over? You may not think that this is strange, but consider that there have been other methods that have developed over time. In fact, you're likely to meet more people that use PayPal over wire transfers. If this method is what they insist on, more than anything else, it's fair to approach the situation with caution.
It's also worth noting the importance of protection on the digital front. Grandparent scams can occur online just as they can over the phone, which means that your computer should be fully updated. Ensure that the right antivirus software is installed. In addition, set up a firewall so that you can better protect yourself. The more protection you implement on the digital front, the less likely it is that you'll be a victim of this type of scam.
According to authorities on finance like Bob Jain, a grandparent scam is what occurs when an elderly individual receives a phone call from someone claiming to be their grandchildren. They may create a story that tugs at the other person's heartstrings, such as a medical emergency or a lost job. In short, they need money quickly. Worried about their grandchild, the victim will send money to the individual, only to eventually realize that they've been fooled. This is a serious financial matter that, more than anything else, preys on the empathy of others.
Grandparent scams, as serious as they are, can be prevented if you know what to do. You can get in touch with other family members, telling them that you've been contacted by a grandchild. Depending on how well they know the relative in question, they will either confirm their story or refute what you've been told. Regardless of what they say, speaking to your family before sending money is a smart course of action.
Did you also know that grandparent scams usually require the one being targeted to wire money over? You may not think that this is strange, but consider that there have been other methods that have developed over time. In fact, you're likely to meet more people that use PayPal over wire transfers. If this method is what they insist on, more than anything else, it's fair to approach the situation with caution.
It's also worth noting the importance of protection on the digital front. Grandparent scams can occur online just as they can over the phone, which means that your computer should be fully updated. Ensure that the right antivirus software is installed. In addition, set up a firewall so that you can better protect yourself. The more protection you implement on the digital front, the less likely it is that you'll be a victim of this type of scam.
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For more details about grandparent scams and other financial topics, please contact Bobby Jain now.. This article, Robert Jain: What Are Grandparent Scams? is available for free reprint.
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