Takes place via phone, email, text message or even social media.
Typically involves the fraudster posing as your grandchild or an authority figure (like a police officer, doctor or lawyer).
The scammer concocts an urgent, troubling situation and pleads with you to keep the situation a secret.
Personal details found online are incorporated to make the scenario seem realistic.
At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
Sources:
https://www.aarp.org/money/scams-fraud/info-2019/grandparent.html
https://www.fcc.gov/watch-out-grandparent-scams
https://www.consumer.ftc.gov/blog/2021/04/dont-open-your-door-grandparent-scams
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