New Insight on Grandparent Scam from a Crook

In the last few years we've talked to several seniors who became victims of the grandparent scam.
They feel embarrassed, depressed, but most of all angry with themselves for believing that the voice on the other end of the phone begging for help was their grandkid.

The unnamed crook says, "You just say, hey. How are you. Hi grandma. Hi grandpa. You tell them things got outta control and I need you to send me the money."

This 31-year-old man is now behind bars in California. He agreed to tell CBS News all he knows as long as his name is withheld.

He worked out of a Canadian boiler room where he says he scored on one out of every 50 calls he made, making upwards of $10,000 a day.

He says, "We target people over the age of 65 mainly because they're gullible. They're at home. They're more accessible. Once you get them emotionally involved, then they'll do anything for you basically."

The scammer says he got names and phone numbers by buying lists online that provide age and income.
He says he never thought about the victims like this 81 year old woman.

She told us, "You are blinded by emotion... totally blinded."
She lost $18,000 after believing a frantic call she got was from her grandson.

The crook says, "I thought people you know who were making $100,000 a year and they would lose a couple thousand here and there. I mean, people lose money all the time."

The saddest part is that victims rarely get their money back because it's wired overseas.
As for advice he says grandparents should ask a question that only the grandchild knows to make sure it's really them.
Also no matter what, hang up and call the grandchild's phone number or another family member to double check the story.

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