Picture this: after working for numerous decades, you have finally saved enough money to comfortably retire. During this time, you are open to helping your children and grandchildren with any financial issues they might be experiencing. Not all calls you receive are legitimate, however, which brings us to the topic of grandparent scams. If you're unfamiliar with these, here are the important details that Robert Jain can provide to keep you safe.
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.
Now that you know what grandparent fraud entails, in the general sense, it's important to know how you can keep yourself from becoming a victim. First and foremost, contact the person claiming to be the grandchild directly. You can help yourself further by consulting another family member to see if their story matches up. By doing so, you will be able to protect yourself from a situation that could impact you financially.
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.
Finally, if you're going to protect yourself from grandparent scams as much as possible, ensure that your experience on the Internet is secure. When you're online, you should have software that blocks viruses, trojans, and the like. A firewall should also be set up, though most computers have these implemented from the get-go. If you're not familiar with technology in general, ask a family member that understands it to help you out.
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.
Now that you know what grandparent fraud entails, in the general sense, it's important to know how you can keep yourself from becoming a victim. First and foremost, contact the person claiming to be the grandchild directly. You can help yourself further by consulting another family member to see if their story matches up. By doing so, you will be able to protect yourself from a situation that could impact you financially.
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.
Finally, if you're going to protect yourself from grandparent scams as much as possible, ensure that your experience on the Internet is secure. When you're online, you should have software that blocks viruses, trojans, and the like. A firewall should also be set up, though most computers have these implemented from the get-go. If you're not familiar with technology in general, ask a family member that understands it to help you out.
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For further information about grandparent scams and other financial topics, please contact Bobby Jain today.. Check here for free reprint license: Robert Jain: What Are Grandparent Scams?.
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