Grandparent scam is increasingly becoming worse despite all of the efforts of the government to ensure seniors are safe. It is becoming a major nightmare given how old people easily fall for such scams.These scammers seem to be taking advantage of grandparents which will later result in loss of huge amounts. The worst part is that this adversely affects their retirement health.

Grandparent scam has been around for years with people falling victims on regular basis. It tends to follow a similar pattern. For instance, the telephone rings with someone claiming to be your grandchild. He will claim to have been arrested and needs some money to get released. The ID details being presented are fake and once the money is sent, the person disappears without any trace.

Is there really a solution?

When it comes to grandparent scam, lots of seniors have given up pointing out that the fraudsters can’t be identified or arrested. The truth is that you can always be on guard to avoid falling victim for their lies. There is no need trying to rack your brains about how such can be done as this post will be revealing some tips to help you avoid them from today. These will ensure your retirement finances are protected.

Be prepared

Most grandparents usually fall victim to this form of scam because they aren’t prepared mentally. There is something about scammers which is the fact that they can easily source for every bit of information about anyone online. Therefore, it isn’t enough when someone is calling you by name and claiming to be your grandchild.

Be objective in your appraisal of such an individual and try to ask some sensitive questions which relate to the history of your family. This can help to offer you some protection since the scammer may not be able to answer all the questions. If you are planning to live any of those retirement lifestyles, never allow anyone put you under unnecessary pressure.

Contacting the parents

This is another easy way to spot the move of scammers. Before deciding to grant the request of your supposed grandchild, it is much better to give the parents a call first. They will be aware if such an individual is traveling or in any form of trouble.

One of the techniques used by these scammers is to put their targets under pressure by coming up with lots of fake and horrible stories. Don’t ever fall for this since it is only a way to get the money from you as soon as possible. Take your time and contact the parents first in order to find out more about the situation. You will be shocked to find out nothing like that exists.

Request for other payment methods

Most of the time, scammers usually make use of Western Union to receive money. This is because it favors them more. If the person refuses to give another payment detail such as PayPal, try to find out more about such an emergency before making payments. Ignoring this can put your retirement health under immense pressure.

Communicating with your grandchild

Finally, don’t fail to contact your grandchild in order to find out what is really happening. Even if you don’t have his or her contact, such can be requested from the parents. Try to do this before deciding to send money. This is basically about protecting your retirement finances wisely.

Final thoughts

There is no doubt that the above tips will help grandparents hoping to live retirement lifestyles of their dreams. It is all about applying each of them whenever you find yourself in such a situation.

In this news broadcast, a former con artist describes how he used to implement the grandparent scam.