Ideally, as you become older, you're able to build enough of a savings account so that you can retire comfortably. During your life, you may start a family as well, meaning that you'll have numerous individuals to be responsible for. It's this feeling of empathy that makes many people the victim of grandparent scams. For those that would like to learn more about these, here is some information provided by Robert Jain.
If you don't know what a grandparent scam is - and reputable names such as Bob Jain can expand on this - it's when a grandparent receives a phone call from someone claiming to be a grandson or granddaughter. This individual will tell them that they need money due to a sudden emergency. The grandparent will then wire or send the money over in some other way. This is a common form of fraud and the fact that it targets unsuspecting people makes it all the more worrisome.
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.
Next, be mindful of the only method of transferring money they suggest is wire transfer. This seems to be the most commonly associated with grandparent scams, and to say that it should be cause for concern would be an understatement. You may even suggest sending money through PayPal or some other digital means. If they continually insist on the wire transfer without any further explanation, you'd be wise to cut off the connection entirely.
Even though the majority of grandparent scams occur over the phone, a fair amount can be experienced online. What this means is that protection on the Internet is necessary. Most computers have firewalls already set up, but you should take things a few steps further by installing antivirus software that operates online and off of the Internet. Most antivirus tools have free versions, and they aren't difficult to track down either, so protection is fairly easy to come by.
If you don't know what a grandparent scam is - and reputable names such as Bob Jain can expand on this - it's when a grandparent receives a phone call from someone claiming to be a grandson or granddaughter. This individual will tell them that they need money due to a sudden emergency. The grandparent will then wire or send the money over in some other way. This is a common form of fraud and the fact that it targets unsuspecting people makes it all the more worrisome.
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.
Next, be mindful of the only method of transferring money they suggest is wire transfer. This seems to be the most commonly associated with grandparent scams, and to say that it should be cause for concern would be an understatement. You may even suggest sending money through PayPal or some other digital means. If they continually insist on the wire transfer without any further explanation, you'd be wise to cut off the connection entirely.
Even though the majority of grandparent scams occur over the phone, a fair amount can be experienced online. What this means is that protection on the Internet is necessary. Most computers have firewalls already set up, but you should take things a few steps further by installing antivirus software that operates online and off of the Internet. Most antivirus tools have free versions, and they aren't difficult to track down either, so protection is fairly easy to come by.
About the Author:
For further information regarding grandparent scams and other financial topics, please get in touch with Bobby Jain today.. Free reprint available from: Robert Jain & The Important Details Regarding Grandparent Scams.
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