15 financial scams you should know

The caller may say that they have a cold if the victim does not recognize their voice. Their story generally follows a familiar line: they were traveling in another country with a friend, and after a car accident or legal infraction, they are in jail and need bail money wired to a Western Union account as soon as possible for their quick release. The caller does not want anyone told about the incident, especially not family.

Before the victim can ask too much about the situation the phony child will hand the phone over to the accomplice who will then request money to be transferred to release the grandchild from jail. While this is commonly called the grandparent scam, criminals may also claim to be a family friend, a niece or nephew, or another family member.

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