July 17, 2012

Financial Fraud: How to Avoid the Grandparent Scam

"Scam artists have a new method: pose as a youngster in trouble in a foreign country and get Grandma to wire money. You'd be surprised how often it works." Although it is hard to believe that people will fall for this scam without checking first with the parents of the grandchild, millions of dollars are lost to this scam. Talk with your elder friends and relatives to be sure they are aware of this scam; being forewarned is one way to cut down on the problem.

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