What are Grandparent Scams?

With National Grandparents Day on Sept. 7, 2025, Luana Savings Bank reminds consumers, especially older Iowans, to be cautious of a growing scam that targets grandparents by playing on emotion and urgency.

What is a grandparent scam?  
According to the Iowa Attorney General’s Office, grandparent scams target older adults with urgent phone calls from someone pretending to be a grandchild or a person speaking on their behalf. The caller claims there’s an emergency that requires immediate financial help. Scammers might say the grandchild has been in a car accident, is facing a medical emergency or needs bail money, and they often urge the grandparent to transfer money, via wire, prepaid cards, bitcoin ATMs or account information. To make the story seem believable, they may use real names, fake caller ID, voice impersonation, or pose as law enforcement. 

“Scammers rely on panic and secrecy to pull off these scams,” said Sherri Johnson, BSA & Trust Officer. “The best thing families can do is talk in advance about how to verify a real emergency and make it clear no legitimate request for help will ever involve secrecy or pressure to send money fast. If you receive such a call, hang up and contact the grandchild or family member directly using a known phone number.”

How can you protect yourself or loved one? 
To avoid these scams, never send money or share personal information based on an unexpected call. Be especially cautious of any caller who urges secrecy or demands immediate action. If you receive such a call, hang up and contact the grandchild or family member directly using a known phone number. If something feels off, don’t hesitate to talk to your bank or report the call to law enforcement and file a report.

Learn More
To learn more about how to protect yourself or a loved one from common scams, visit www.LuanaSavingsBank.com/FinancialLiteracy.