The “Grandparent Scam” is a particularly disturbing scam perpetrated on the elderly. The criminal contacts the Grandparent, pretending to be a grandchild in trouble with the law or in desperate need of cash for a medical bill. They then claim that the matter cannot be discussed with other family members (red flag). Victims report receiving calls late at night, adding confusion and a sense of urgency. The preferred mechanism of money movement is wire transfer (red flag) as once it’s gone, it’s gone
Now, what if it was possible to conduct this scam using the actual voice of the family member in need of help? What if the call came from their mobile number? We are now at the point where both of these are technologically possible. Validation of identity can no longer be based on the obvious.