What to Know About the Financial Scam Targeting Grandparents

Grandparents are often targeted by scammers looking to exploit their love and generosity for their younger family members. These scammers use a variety of tactics, including voice cloning, spoofed phone numbers, and personal information gathered from social media, to trick older adults into thinking that their grandchildren or other relatives are in trouble. According to the Federal Bureau of Investigation’s 2025 Internet Crime Report, victims of “distress” scams, such as the grandparent scam, reported losses exceeding $5 million in 2025.

The ‘grandparent scam’ typically involves a scammer posing as a grandchild or a figure of authority, such as a police officer or lawyer, claiming that the grandchild is in urgent need of money. They may fabricate scenarios such as bail payments, car accidents, or medical bills that require immediate financial assistance. By using advanced technology like voice cloning, scammers can make their impersonations more convincing, while social media provides them with a wealth of personal information to make their scam more believable.

There are several red flags that families should be aware of to protect themselves from falling victim to these scams. One major indicator is the payment method requested by the scammer. If they ask for payments via gift cards, cryptocurrency, wire transfers, or payment apps that are difficult to refund, it’s likely a scam. Additionally, if the scammer insists on secrecy and asks that you not inform other family members, it’s a clear warning sign. It’s important to involve another trusted family member to help verify the legitimacy of the situation.

Before sending any money, it’s crucial to take steps to verify the authenticity of the request. Hang up and contact your grandchild directly or a family member to confirm the situation. Establishing a family “safe word” or verification phrase in advance can also help to quickly identify scammers posing as loved ones.

If you have already sent money to a scammer, act quickly to contact the company or platform used for the payment. Report the scam to the appropriate authorities, such as the Federal Trade Commission, and take immediate steps to prevent further financial loss. By acting swiftly, you can help prevent the scammer from targeting other victims and potentially recover some or all of the funds lost in the scam.

It’s essential to stay informed and vigilant to protect yourself and your loved ones from falling victim to these types of scams. By being aware of the tactics used by scammers and taking proactive measures to verify requests for financial assistance, you can help prevent financial loss and ensure the safety of your family members.