Mom loses $400k to Facebook ‘scam’ over 7 years – she’s still sending money

A MOM has lost $400K to Facebook “scams” over seven years but continues to send money to untrusted sources.

Her son said: “I have yelled, screamed and cried. She does not care.”

Online shopping is convenient but it can also be a breeding ground for criminals trying to hack accounts.

Sellers also have to worry about phony buyers ordering products and canceling payments once they’ve shipped.

One son took to MarketWatch to ask for advice on how to deal with his mom who has fallen “victim” to scammers.

The scammers came through Facebook using “several different names,” he said.

But despite her sons efforts to stop his mum from spending, she still send Apple gift cards to unknown sources.

The Son admitted he “wants to throw her out” but knows “she has nowhere to go”.

The full post read: “I have been living a nightmare with my mother for seven years.

“They came through Facebook and had several different names; they took her for over $400,000 and, to this day, she is still sending Apple gift cards.

“She now lives with me, but she is still beholden to these scam artists who are relentless.

“I have called the cops. I have called the FBI.

“I have called the local sheriff for internet fraud with zero help; they told me there’s nothing they can do.

“I have yelled, screamed and cried. She does not care.

“I called a lawyer and they said it would be very difficult because she is of sound mind.

“She knows what she is doing and she is choosing to make bad decisions.

“I have tons of proof to back it all up. I am at a loss on how to go after these guys.

“They use gift cards and crypto to make her take out loans; she has even given out my address.

“I want to throw her out, but she has nowhere to go, and gets too much a month for senior living.”

THE RESPONSE

In response, Quentin Fottrell, MarketWatch’s Managing Editor-Advice Columns and The Moneyist columnist said: “She is a victim.”

“Show her compassion and understanding instead of anger”, he added.

Quentin likened the mom’s situation to that of a gamblers or even to an alcoholic.

He continued: “The big difference is there is a third party or parties who are putting pressure on this person to continue.

“You can help by freezing your mother’s credit report, putting two-factor authentication on all her accounts, monitoring her access to the internet, contacting her bank, credit-card company and doctor to inform them of the ongoing risk, and trying to create stronger real-life social networks through local retirement groups or bridge clubs etc.

“Some local law-enforcement organizations provide free tutorials for seniors on financial scams; this could help provide a breakthrough for your mother.”

Ultimately, “anyone can fall victim” to scammers but “ridicule from others” can make matters a whole lot worse.

Quentin also suggested “taking protective action” involving conservatorship or guardianship, which varies from state to state.

It can help protect an elderly relative from financial scams.

Alternatively, therapy could help.

Bank tips for avoiding scams

As scams become more sophisticated with the use of artificial intelligence, it is important you know how to spot a scam:

• Be skeptical of online deals that seem too good to be true, especially on social media.
• Scammers will often use tactics to make you panicked so you make quick decisions – be cautious if you are told to take immediate action and verify who has contacted you.
• Chase Bank warns customers to “never return any unexpected funds without calling Chase first.”
• Never send money to someone you have only spoken to online or by phone as this is likely a romance scam.
• Unless you 100% know who you are talking to, never give someone remote access to your device.
• Never accept help from strangers at an ATM and always be vigilant when making withdrawals.
• Do not send money or click any links indicating that you have won a prize.

Source: Chase.com