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Safe Banking

What are grandparent scams?

October 30, 2024
2
min read

We’re raising awareness about a scam that’s on the rise: The Grandparent Scam. Talk to your loved ones about this scam to help them stay safe!

Older man receives suspicious call

The Winnipeg Police Service is warning about a scam on the rise, a fraud tactic that tricks people into sending money under false pretenses. It’s called the Grandparent Scam.

A Grandparent Scam is when someone impersonates a family member in distress and asks you to send money ASAP.

The scammer typically calls older adults and poses as their grandchild or close relative. They might start the conversation by saying, "It's me, your favourite grandchild," or "Grandma? Do you know who this is?".

Questions like these encourage the grandparent to reveal the name of their grandchild, which the scammer uses to gain credibility.

The scammer claims they've been in an accident or are in trouble with the law and need money. They ask for the money to be wired immediately, often thousands of dollars.

In the WPS report, it was revealed that scammers are even sending drivers to pick up the money from the victim’s houses.

Victims of this scam may receive multiple phone calls from their "grandchild," law enforcement officers, and even court representatives. Each fraudster asks the victim to send more money to cover expenses such as bail, legal fees, and repairs to damaged vehicles.

If you receive a call from an unknown number, never give out the names of your relatives. Be sure to verify the story with other family members before sending money, even if time seems of the essence.

Signs of a Grandparent Scam

  • The caller doesn’t identify themselves right away. They might say something vague like, “Hi Grandma/Grandpa, it’s me!”
  • They stress they need the money ASAP. This urges you to act without thinking.
  • They ask you not to talk to other family members about it, to prevent you from catching on to their lies.

What to do if you get a suspicious call

  • Hang up the phone and call your family member directly.
  • Never reveal personal information over the phone, like the name of a relative or your banking information.
  • Avoid answering calls from unknown numbers.

Cambrian is committed to protecting our members. To stay up to date on the latest fraud and scam trends, bookmark our new Cybersecurity Centre.

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