A worrying development has been reported where fraudsters use artificial intelligence to revamp the classicԻ貹Գwith a dark newtwist.
What is the Grandparent Scam?
You may have heard of thescam, which often targetsgrandparentsand involves the caller claiming to be the victim’s grandchild or a close family member. They will typically say they were in a car accident and need to be wiredmoney,or they may claim to have been arrested and request funds for bail. We have even heard reports of some scammers pretending that they have been kidnapped to swindle ‘ransom money’ out of their victim.
There are other variations of thisscam, but it usually involves an emergency,a grandparentvictim,and the fraudster pretending to be their grandchild.
AIMakesthe GrandparentScamMore Convincing
The dark new twist of this classicscamcan be seen in new versions where fraudsters are using consumer information and artificial intelligence to build a scenario thegrandparentwould believe.
This shocking development has made thescamsignificantlyadvancedin terms of the technology it uses, as some have even been able to generate the voice of the victim’s actual grandchild! This makes thescammuch more believable, especially under the pressure ofa supposed emergency.
Example of an AI-Driven GrandparentScam
So,you’reprobably wonderinghow this works. For example, a scammer may use the consumer information it has sourced to find out their targethasa grandchild named Ricky who is currently backpacking around Europe before going to college.
The fraudster may then call the victim’s grandmother and say something like“Hi grandma,it’sRicky. My wallet was stolen in Paris.Please wiretransfer me $2,000 anddon’ttell mom and dad becauseI’llbe in trouble and must come home”, which could be a difficult request for a grandparent to say no to.
The scammer will often increase the scare factor by usually involving a police officer or lawyer in their story, who is threatening the grandchild with arrest if theydon’tpay. The call may come from an unknownnumberor it may appear to be a recognizable contact if the scammer is using a fraudulent technique calledcaller IDspoofing.
How to SpotGrandparent Scams
Unfortunately, ĢƵ has recently seen reports of thisscamrising, so it is important to know how to spot this scheme.
If a caller is pressuring you to send money, it isvery likelyascamand it is best to hang up and report it to law enforcement. If you receive aԻ貹Գcall, the best first move is to double check by texting your family members directly for more information, especially the person who is claiming to be on the phone.
How to Protect Yourself Against Grandparent Scams
It is best practice to never engage with unknown numbers and report phone numbers being used by scammers to your carrier. If you believe you are the victim of agrandparentscam, you can report it to your local police, state attorney’s generalofficeand the.
Call-blocking apps, including those powered by ĢƵ Call Guardian®, are also a great resource for reporting and blocking unwanted robocalls.
Call Guardian is a registered trademark of Transaction Network Services, Inc.
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