Keith Tanner on Unsplash
The Ontario Association of Chiefs of Police (OACP), the Ontario Provincial Police (OPP), and the Canadian Bankers Association (CBA) have joined forces to address the growing concern of Emergency-Grandparent scams.
"Reported incidents of emergency-grandparent scams are rising at an alarming rate across the country, and Halton, unfortunately, is no exception," stated Halton Police Chief Tanner.
These scams target some of the most vulnerable members of society and have seen a significant rise in recent years. To raise awareness and provide preventive measures, crime prevention experts have compiled a 20-minute audio presentation discussing this type of fraud and offering tips to safeguard oneself and loved ones against this scam.
From January 1 to June 30, the Canadian Anti-Fraud Centre (CAFC) reported an astonishing $9.2 million in victim losses related to emergency-grandparent scams.
With four months remaining in 2023, it is anticipated that the losses for this year will surpass the $9.4 million reported in 2022. These staggering figures shed light on the detrimental impact of this fraudulent activity on unsuspecting individuals.
Additionally, it is important to note that only a tiny fraction of victims (5-10%) report scams and frauds to the CAFC or law enforcement. This underreporting highlights the need for increased awareness and education surrounding this issue.
Moreover, the CAFC has found that seniors suffer 33% more financial losses than other demographic groups. This further emphasizes the urgency to address this pressing concern affecting our senior population.
How emergency-grandparent scams work
Emergency-grandparent scams typically involve a phone call to a senior, with the scammer impersonating their grandchild to establish trust and credibility. The fraudulent caller claims to be in dire trouble and urgently requests money from the victim. Frequently, they pretend to be involved in a car accident with a rental vehicle or claim to be under arrest and in jail, either domestically or internationally.
To further corroborate their story, scammers may pass the phone to an accomplice posing as a police officer, bail bond agent, or lawyer.
By involving these additional individuals, the scammers make their narrative more convincing. Fueled by a desire to help their grandchild, victims often withdraw funds from their bank accounts and wire money to the impersonator.
To facilitate the transfer of funds, scammers typically employ money transfer services, allowing them to collect money from various locations worldwide. Sometimes, they may even arrange for a courier to visit the victim's residence and physically collect the funds. These elaborate tactics demonstrate the lengths these criminals will go to deceive their victims.
"Scammers are using high-pressure tactics to prey on the trust and generosity of their victims," stated Police Chief Tanner.
Protecting yourself and your loved ones
To combat emergency grandparent scams and other forms of fraud, it is vital to stay informed and take proactive measures. The Canadian Anti-Fraud Centre provides valuable resources and information on its website, www.antifraudcentre-centreantifraude.ca. By familiarizing oneself with the intricacies of these scams, individuals can better protect themselves and their loved ones.
In the unfortunate event of falling victim to a fraud or scam, it is crucial to report the incident to both the local police service and the CAFC. Reporting helps authorities track and investigate these crimes, thereby assisting in preventing and prosecuting fraudsters.
Even if a financial loss did not occur, it is still essential to file a report as it contributes to a comprehensive understanding of the scam landscape.
"Spreading awareness and providing residents with the tools they need to protect themselves from these types of frauds remains a priority for our Service, along with our commitment to investigate and bring these criminals to justice," concluded Tanner.
