Ask the Chief

Scams seem to be everywhere. They arrive in the mail, on social media, and in phone calls. They are very well organized, rehearsed, and tricky. They also prey upon our most vulnerable, our grandparents.
I have known several people, including my own family, who have fallen victim to scams. Many have lost tens of thousands of dollars with no hope of getting the money back or holding the thief accountable.
Most of these scams involve layers of people working in different states thereby making a successful investigation practically impossible. What can be done to protect our loved ones? The solution is prevention. Police, banks, and the postal service can only do so much to educate our senior citizens or intervene when they are withdrawing or sending large sums of money.
The best group to help people avoid being victims is their own family. Sons and daughters need to sit down with mom and dad and have honest conversations regarding the parent's ability to think and act rationally when it comes to money and scams. Conversations need to occur with the bank to see if they have programs that require third-party approval for certain amounts of money. Building trust within the family so that people can talk to each other and share personal information along with banking information.
I know of families who review monthly banking statements, mail, and social media to ensure that a scammer is not targeting their loved ones. Don’t wait until it is too late. Call a family meeting and start the conversation.