Posted by Nancy Hecht , CFP®, AIF®

Last week I received a call from a client asking that I flag his accounts. He thinks someone is trying to scam him and get his funds.
He received a phone call from someone with a foreign accent stating that his grandson was in an accident while on vacation. He asked where his grandson was and could he talk to him. A weak sounding boy got on the phone and said “Hi grandpa, I need your help, I was in an accident and need money to pay the ambulance and for hospital bills.” My client asked “Which grandson is this?’ He expected to hear a name, instead the boy said “Your oldest grandson.” I actually thought that was a clever answer. My client quickly hung up and started making calls to all of his financial institutions to protect his accounts.

With school ending and summer vacations starting, I am sure we will hear of this type of scam more often. Please keep your guard up and do not give out any information to anyone you do not know.

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