Two Tips to Prevent Becoming a Victim of the ‘Grandparent Scam’

Scammers are getting more savvy by the minute. According to a report by NBC7 in San Diego, scammers are now using artificial intelligence (AI) to clone voices. They are able to take short clips of someone’s voice and use AI to have it say whatever they want. Typically, this type of scam involves the victim receiving a panicked call from a “grandchild” asking them to send money immediately because there is some sort of emergency.

A cybersecurity expert recommends that you choose a code word to safeguard your family. If the “caller” doesn’t know the code word or responds incorrectly, then you know this is probably a scam.

Another good tip is to beware of phone calls you receive where there is no one on the other end. That could be a scammer trying to record your voice to use in one of their ploys.

The Seniors Trust is committed to helping protect the financial well-being of seniors, including offering important information on how to avoid scams. We also want to see Congress pass The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and will ensure the long-term solvency of the Social Security program.