Like many other phishing scams featured on this site, friends-and-family imposter scams are common. These scams usually begin with a phone call impersonating a friend or relative, or often a grandchild in trouble. That is the reason this scam is also known as a “grandchild scam.” Other attack avenues may include email, SMS, or social media messages.
The fraudster may call you and pretend to be your friend or relative, claiming to have been in an emergency and needing quick funds. A common story is that they were in a road accident and need money to compensate injured victims or to avoid a jail sentence stemming from safety violations. Other emergency situations may include leaving a foreign country due to an epidemic or paying a hospital bill or college fee to avoid penalties. Scammers will act quickly and try to get money before you realize it is a scam.
This article will help you to be mindful of the friend/relative imposter scams, including grandparent scams. We’ll look at how family/relative scams work, some tricks used to circumvent your logical response and recommendations to avoid such scams.
A con artist in a typical grandparent scam impersonates a grandson or granddaughter by calling or emailing a grandparent and claiming that he or she is in distress or trouble. The scammer claims they need their victim to transfer money that will be utilized to get bail, pay attorney’s fees or handle another fictitious financial or health emergency.
According to the U.S. Senate’s Special Committee on Aging, older Americans lose $3 billion a year in financial scams. Con artists victimize old people through friend or family imposter scams, sweepstakes, fraudulent business opportunities and technical support scams.
How does the friends-and-family/relative scam work?
According to a report published (Read more...)
*** This is a Security Bloggers Network syndicated blog from Infosec Resources authored by Fakhar Imam. Read the original post at: http://feedproxy.google.com/~r/infosecResources/~3/ycEIHsnAdvo/