Over the years, I have written numerous articles on the various scams and frauds reported to us, along with some helpful tips to avoid becoming a victim. Even with all this outreach and awareness, we still have people being victimized by various scams and fraud. While numerous forms of scams are being perpetuated, they all follow a similar methodology and rely on the same basic tactics to catch people at their most vulnerable. I want to use this article as an opportunity to discuss “The Anatomy of a Scam”
While the scam I will walk you through is what we would call “The Grandchild Scam”, most if not all scams follow the same methodology. The scam actually begins before the call is even answered in that the perpetrators are now using a method called “Cloning” to attach their call to a familiar number. Gone are the days when these calls would come in as “Unknown” or “Unlisted.” They realized that people were catching on to this, so they adapted. This provides a sense of legitimacy as the number may have a familiar area code or even the entire number. Also, to establish legitimacy, they may or may not state a name. If they state a name, they most likely have done some research and have the correct name. This is where social media can be problematic. Be careful what you post. In other cases, they will just state “This is your Grandson/ Granddaughter”. Too often, the potential victims will then give their names in an attempt to confirm.
The first step in any scam is to elevate the potential victim’s sense of emotion. This is done by creating a crisis in which the “Grandchild” is involved. The general tactic here is that the greater the level of emotion, the lower the level of logic. This same approach is used when the caller states they are from a law enforcement agency, the IRS, or, in a positive way, a lottery representative with news of a big win. In all cases, elevating the potential victim’s emotional state is the goal.
The next step is isolation. The perpetrators know that if their potential victim shares the story and requests money, those people will not have the same elevated emotion and will view the entire situation with logic, thus drastically limiting the potential success of their scam. In this scam, the caller stated that they are in jail. They would then go on to state that they need money for bail, but they ask that the potential victim not tell anyone as it could affect their job. This may make perfect sense for someone in a state of heightened emotion.
The final part is the actual transaction details. In this call, the perpetrator says they will pick up the money. This, of course, should bring with it numerous safety concerns. Many times, this original plan is shifted to having the potential victim either go to a bank to initiate a wire transfer or a trip to a Walmart to purchase money cards, which will allow the transaction to take place more conveniently for the victim. In recent cases, the perpetrator had sent out a courier to pick up the money.
When you do receive any call of such a nature, it is important to end the call as soon as possible. The longer you stay on that call, the greater the chance the caller will draw you into their story. I call this the difference between a “Hard Target” and a “Soft Target.” If the caller senses hesitation or an inclination to believe the story, they will turn up the pressure or even call again. If you display a solid, no-nonsense approach that is decisive and conclusive approach, they will most likely move on to someone else, who will be that “Soft Target” they are looking for.
Also, in this age of the emerging use of artificial intelligence, the convergence of fiction and reality poses an even more significant challenge in spotting and preventing these scams.
We are blessed to live in a close-knit community, and we need to use those personal connections to minimize our isolation and, thus, our vulnerability to these scams. This is our greatest defense against such scams: our willingness to share stories. Even if such scams have victimized you, share that story. It may prevent future victimization. If you find yourself in that moment of a potential scam, please get in touch with your trusted financial institution or local law enforcement before any financial transaction occurs. Once the transaction has occurred, our ability to follow up or recover any financial loss is extremely limited.
