Grandparent Scams: What You Need to Know
Few phone calls are more frightening than one that sounds like a grandchild in serious trouble. “Grandparent scams,” as they’re called (they don’t always target grandparents, of course) exploit fear and urgency to pressure people into sending money quickly.
It’s not a rare problem: the FBI’s Internet Crime Complaint Center reported around 200 grandparent scam incidents in 2023, with losses of roughly $2
million, and notes that the true number is likely higher because many victims never report what happened. And as artificial intelligence advances, these scams are becoming more convincing and harder to spot.
How they unfold
A typical grandparent scam begins with an unexpected phone call. The caller claims to be a grandchild, or someone acting on the grandchild’s behalf, such as a police officer or lawyer. They describe an emergency—an arrest, a car accident, or medical bills—and insist that money is needed immediately. To prevent verification, the caller may demand secrecy and request payment through wire transfers, gift cards, cryptocurrency, or cash deliveries.
What makes these scams especially alarming today is the use of deepfake and voice-cloning technology. Scammers can capture short audio clips from social media or voicemail and use AI tools to create a voice that closely mimics a real family member. Consumer protection agencies warn that even a voice that sounds familiar cannot be trusted on its own.
If you receive a frightening call like this, the most important step is to slow down and verify the situation before taking any action:
• Pause and do not send money, no matter how urgent the request sounds.
• Hang up and contact the family member directly using a phone number you already know.
• If you cannot reach them, check with another trusted relative or friend.
• Refuse any request for secrecy or unconventional payment methods.
Visit our Fraud & Theft Protection page and subscribe to the Money Mill Blog for more information and best practices to keep your data and money safe.
