Money Mechanics Blog

Unfortunately, our loved ones are being targeted by cyber criminals taking advantage of the trust and love they hold for their grandchildren. The scammers often pose as a grandchild or other family member that needs help, claiming to be stranded in a foreign location or in legal distress. Scammers may pose as a person trying to help the grandchild get out of trouble. The scammer urgently requests money to resolve the supposed emergency and insists that you contact no one else and keep the situation a secret.

According to experts, here’s some important information to consider:

Red Flags to Watch Out for:

• Urgency of Request: Scammers often try to create a sense of urgency to pressure victims into acting.
• Secrecy: Scammers will ask for money. They will also say that information about the payment is to be kept confidential.
• Unknown Person Making the Request: A grandparent receives a phone call or email prompting them to send money from someone they don’t know.

Protecting Your Loved Ones:

• Verify Identity: Before sending the payment, contact the family member directly and reach out to another family member to corroborate the situation.
• Do Not Rush: Fraudsters thrive on creating panic and urgency. Take your time to assess the situation carefully.

Allegius is here to help keep you and your family safe from scams. If you are ever in doubt about a situation, please call our Member Support Department at 219-787-8049 or 800-537-8386.