Speaker 1: This is money in motion with Coss Financial right here
Speaker 1: on thirteen ten double ui b A the website for
Speaker 1: Coss Financial, It's just that Cossfinancial dot com. That's Coss
Speaker 1: k l a a s Financial dot com. Great website
Speaker 1: to learn more about Coss Financial. There's separate divisions you
Speaker 1: can get to know the team at COSS Financial. You
Speaker 1: can also sign up for the weekly market Pulse newsletter
Speaker 1: that available to you at cossfinancial dot com. That's Coss
Speaker 1: k l a a s Financial dot com. Their telephone
Speaker 1: number six oh eight four four two five six three seven.
Speaker 1: No charge for the initial get to know you appointment
Speaker 1: tech Coss Financial. It will be complementary to you again
Speaker 1: their number six oh eight four four two five six
Speaker 1: three seven and joining us this morning from Coss Financial,
Speaker 1: our retirement planning professionals, CJ. Coss and Malia Quavis CJ.
Speaker 1: How you doing this morning?
Speaker 2: I'm doing great?
Speaker 3: How are you?
Speaker 2: Sean?
Speaker 1: Doing well? Great to chat with you, Malia, how have
Speaker 1: you been very good?
Speaker 3: It's a little chili outside, isn't it.
Speaker 1: Just a little And it's a little snow, just enough
Speaker 1: to make it a little little Harry, Yeah, yeah, so
Speaker 1: it definitely looks nice out there, I guess. But we've
Speaker 1: got obviously plenty of more more to come, so we'll
Speaker 1: talk weather and snow and weeks. We'll think about that later.
Speaker 1: Let's talk about fun stuff this morning. An opportunity to
Speaker 1: win a fantastic prize with the class quiz quest leak
Speaker 1: a fantastic feature of the program this week. No exception
Speaker 1: of a chance to win a twenty five dollars gift
Speaker 1: card to Best Buy from our friends at Coss Financial.
Speaker 1: Little tip for the class quiz question leak most of
Speaker 1: the time, just about every time both the question and
Speaker 1: answer to the class quiz questionally come up during the program,
Speaker 1: so definitely benefits to play. Pay close attention to the
Speaker 1: show mentioned as well the website colssfinancial dot com. I
Speaker 1: mentioned the weekly Market Pulse newsletter. I didn't mention. If
Speaker 1: you miss any part of today's program or want to
Speaker 1: listen back to the shows, you can actually listen to
Speaker 1: the podcast right online at clossfinancial dot com. This week,
Speaker 1: we're going to talk about with the holiday season upon us, fraud,
Speaker 1: big thing things you can do to help prevent potential fraud.
Speaker 1: Really important tips ahead on this week's program and before
Speaker 1: we start talking about that topic. Let's actually take a
Speaker 1: look back Maliah last week's program and look at the
Speaker 1: clas quiz question week get the question and answer there
Speaker 1: as well.
Speaker 3: Yeah, so as we're wrapping up twenty twenty four, we
Speaker 3: like to point out things people should be aware of,
Speaker 3: which last week we discussed required minimum distributions. What you
Speaker 3: should know about that and just make sure that you
Speaker 3: are on track to have taken out everything you are
Speaker 3: required to take out and pay taxes on the irs. Well,
Speaker 3: thank you for that, so make sure you listen back
Speaker 3: to that show. Our question revolved around rmds true or
Speaker 3: false if you were born in nineteen sixty or after
Speaker 3: your RMD age is currently set for age seventy five.
Speaker 3: The answer to that question was true, and Dennis I.
Speaker 3: WannaKey was our first correct answer for calling in last week,
Speaker 3: so congratulations to him. Listen carefully to today's show.
Speaker 1: Very very good program last week. Congratulations to Dennis, and
Speaker 1: as mentioned, you can listen back to last week's program.
Speaker 1: Really important information and a really good show. Again that's
Speaker 1: available to you at klossfinancial dot com. This week, of course,
Speaker 1: we'll be talking about as we look towards the holiday season,
Speaker 1: a lot of folks start spending more money around the holidays,
Speaker 1: and of course you want to keep track of money,
Speaker 1: and of course money in and out of your accounts,
Speaker 1: also things like credit cards, some changes there, maybe a
Speaker 1: note something that I didn't make that. So today we're
Speaker 1: actually going to be talking about some great tips to
Speaker 1: help potential fraud, aren't we CJ.
Speaker 2: Yeah, we are. So this time of the year, we're
Speaker 2: also busy with everything with holiday shopping and getting ready
Speaker 2: for family to come over that it can be easy
Speaker 2: to get distracted and miss some important things that might
Speaker 2: be happening behind the scenes. So the FTC, the Federal
Speaker 2: Trade Commission, reports that consumers lost over ten billion, yes
Speaker 2: billion with a B last year due to fraud. And
Speaker 2: obviously we don't want anyone becoming one of these statistics
Speaker 2: and being part of that that category. So we spend
Speaker 2: a lot of time working with individuals helping them plan
Speaker 2: for their retirement. And while we're not trying to scare anyone,
Speaker 2: we truly do want people to be aware of how
Speaker 2: they can protect themselves. So, believe it or not, in
Speaker 2: our line of work being retirement planning, financial planners, investment advisors,
Speaker 2: fraud shows up. It shows up in the form of
Speaker 2: people calling us and saying, hey, I need money out
Speaker 2: of my account to get the lottery winnings out of
Speaker 2: the vault, and we go say what, Or I need
Speaker 2: money out because I need to go buy some some
Speaker 2: gift cards because my child is in jail and Ghana
Speaker 2: and we say what. So you get the idea not
Speaker 2: to mention, you know, fraudulent access to account all of this.
Speaker 2: So that is the topic we're going to be discussing today.
Speaker 2: So let's begin with online safety for our listeners. This
Speaker 2: begins with robust password practices. Strong passwords really are your
Speaker 2: first line of a good defense. A secure password should
Speaker 2: combine uppercase and lower case letters, numbers, and special characters,
Speaker 2: avoid personal information like names or birthdays, birthdates, and use
Speaker 2: unique passwords for every account. This will prevent a breach
Speaker 2: in one account from compromising others. So listen, I am
Speaker 2: part of a household. I have teenage daughters and a
Speaker 2: ten year old son. I have a spouse. I know
Speaker 2: just how easy it is to use the same replica
Speaker 2: over and over and over, especially if you say, well, gosh,
Speaker 2: I can't remember all the unique ones, so I'll just
Speaker 2: do three or four or five different variations. Listen, I've
Speaker 2: heard it all. I've seen it all. And what I
Speaker 2: can say to you is, don't go down the easy
Speaker 2: paths of using the same replicas, or of using really
Speaker 2: easy user names and passwords, or of saying I'll just
Speaker 2: write it down on my desk on a piece of paper.
Speaker 2: Don't do it. Instead, If if you're willing to be
Speaker 2: humble and listen to this, we're going to give you
Speaker 2: some steps where you can use unique you use unique
Speaker 2: user names of passwords, but still have it be secure
Speaker 2: and have it be something that you can access and remember.
Speaker 2: So stick with us here. So again, an uppercase lowercase number,
Speaker 2: special characters, don't use any consistency, don't use birthdays and names,
Speaker 2: and believe it or not, here's a fun little fact
Speaker 2: for you. The most common passwords that are used are
Speaker 2: one two three four one one one one one one
Speaker 2: uh The most one of the most common passwords is password.
Speaker 2: Another one is admin one two three or zero zero
Speaker 2: zero zero zero zero zero. Don't do that. Don't do that,
Speaker 2: and people go, oh, don't worry, I don't, I just
Speaker 2: use my data birth don't do that either, right, make
Speaker 2: it completely unique, something that if you relied on your brain,
Speaker 2: you never be able to remember. Okay, and we're going
Speaker 2: to talk about how you're going to gain access to
Speaker 2: that because you might be going, well, how do you
Speaker 2: do that? If it's completely unique? I would never remember.
Speaker 2: We'll get to that in a moment.
Speaker 1: Talking this morning with CJ. Colossimlia Quavis our retirement planning
Speaker 1: professionals from Class Financial, the website class financial dot com.
Speaker 1: That's Closs k l aas Financial dot com. Now they're
Speaker 1: telephone number six, So eight four four two five six
Speaker 1: three seven. So let's kint to get into some of
Speaker 1: those security features out there. CJ.
Speaker 2: Yeah. So, so one enhanced security measure that we are
Speaker 2: huge fans of is known as MFA multi factor authentication.
Speaker 2: It's the idea of I have a unique username, a
Speaker 2: unique password, and then even beyond that, I have to
Speaker 2: have a secondary layer of authentication. Now, this could be
Speaker 2: things like a like Microsoft has a has an app
Speaker 2: that you can download that generates a unique code. This
Speaker 2: could also be your cell phone that you get a
Speaker 2: text message text to you so that when you're logging in,
Speaker 2: it just texts you if it's a if it's unknown,
Speaker 2: IP address huge fans of multi factor authentication that just
Speaker 2: by that feature alone, you will dramatically reduce the likelihood
Speaker 2: of somebody fraudulently accessing your account, because, as you can imagine,
Speaker 2: if somebody accidentally gets old of that information and you
Speaker 2: don't have it multi factor authentication, boom, they're into your account.
Speaker 2: But if instead you say, well, gosh, I have these
Speaker 2: unique things going on, but I accidentally shared it with
Speaker 2: the wrong person, or I put it on whatever, you
Speaker 2: dramatically reduce probability of them getting in there if a
Speaker 2: text message has to come to you. Okay, so I've
Speaker 2: been hinting at this. We do understand that managing multiple
Speaker 2: passwords and user names that are all unique can be overwhelming,
Speaker 2: which is where a password manager comes in handy. Now,
Speaker 2: I just want to address because I've heard this from
Speaker 2: innumerable clients and friends and family members. But SoJ, can
Speaker 2: you really say to me that your solution for managing
Speaker 2: passwords is to put them online? Yes? Yes, and I
Speaker 2: know that sounds crazy, but the answer is yes. Otherwise
Speaker 2: your solution is what to put it in your purse,
Speaker 2: to put it in your desk, to put it in
Speaker 2: a little black folder that anybody can go grab and steal,
Speaker 2: at which point you lose them all. There are professional
Speaker 2: password storage managers that have military level encryption. Listen. The
Speaker 2: military uses these, the federal government uses these. That are
Speaker 2: password storage managers that are very secure that require like
Speaker 2: six different ways. There are six different layers of security
Speaker 2: to get into them. Some of them would be like
Speaker 2: one password. I noticed during the last I think it
Speaker 2: was a maybe it's the World Cup or some sort
Speaker 2: of football game that they were referencing one password. But
Speaker 2: one password is a great one. It's actually one that
Speaker 2: we use here at Class Financial. Another one is nord
Speaker 2: pass or dash Lane, and there's many others. Do your research,
Speaker 2: find one with military grade encryption on it, get very
Speaker 2: involved in understanding how it works, and then use that
Speaker 2: password storage manager. So listen. Everybody I personally, between business
Speaker 2: and family, have upwards of one hundred different completely unique
Speaker 2: user names and passwords. I would never be able to
Speaker 2: remember those. If I was relying on my brain, I
Speaker 2: would not have much uniqueness to it at all. But
Speaker 2: because I have one password, I can generate those, I
Speaker 2: can save those, and then any time I go to
Speaker 2: the site, I can just go in and you might go,
Speaker 2: what do you mean one password? One password is the
Speaker 2: name of the technology. I need one password to access
Speaker 2: my plethora of unique usernames and passwords gaining acts to that.
Speaker 2: Access to that requires a lot of security. So do
Speaker 2: your due diligence and get involved in that. But I
Speaker 2: just cannot suggest to you enough. We see so much
Speaker 2: problem in the way that our clients, our family and
Speaker 2: friends are handling user names and passwords. We just can't
Speaker 2: suggest the U. Really do your due diligence and set
Speaker 2: something up that's more secure.
Speaker 1: One of things too, I heard you mentioned there too,
Speaker 1: and sometimes people are saying like, well, what about generating
Speaker 1: those passwords? A lot of these programs will generate just
Speaker 1: really long, really complex, really secure passwords and do that
Speaker 1: for you as well, something that you would never in
Speaker 1: a millionaires think of. And that's one of the great benefits.
Speaker 1: We talked this morning with CJ. Coloss and Malia Equavis.
Speaker 1: They are our retirement planning professionals from Class Financial. So CJ,
Speaker 1: let's talk about then protecting your identity. And excuse me, Maleia,
Speaker 1: I apologize protecting your identity and why now it's such
Speaker 1: an important thing compared maybe with years previous.
Speaker 3: Yeah, so it certainly is, and we're going to talk
Speaker 3: about the idea of a credit freeze. But I did
Speaker 3: want to reflect on what CJ said about these passwords.
Speaker 3: You know, I walked into an office depot recently and
Speaker 3: looking at their stationery and so forth, and I came
Speaker 3: across a little black book and it said password book
Speaker 3: and I just cringed. I'm like, these are still for sale.
Speaker 3: People are still buying these. People are writing their passwords
Speaker 3: in them, and you know what, they put them in
Speaker 3: their purse if they're you know, the ladies, or their
Speaker 3: backpacks or and I'm like, no, we cannot go backwards
Speaker 3: because that is just not going to be a good situation. So,
Speaker 3: you know, we talk about everyone when we have these
Speaker 3: conversations with our clients. This is what we hear. They say, Well,
Speaker 3: I'm sharp, I'm not going to respond to anything that's
Speaker 3: emailed to me if I don't know where it's coming from.
Speaker 3: We're going to get into that in a minute. Everyone
Speaker 3: believes that they won't be the person that actually has
Speaker 3: fraud committed against them, and that's where we're like, actually,
Speaker 3: it can happen at any point. I'll tell you a
Speaker 3: personal story. My daughter noticed. This was last year. She
Speaker 3: noticed that she had two charges on her checking account
Speaker 3: that did not belong to her. They were very small
Speaker 3: charges from Google for about three dollars four dollars, and
Speaker 3: she reported to the bank right away. They said, oh,
Speaker 3: it's nothing to worry about, you know, we'll we'll let
Speaker 3: you know if there's an issue. Well, two days later,
Speaker 3: day four, they had taken the fraudsters had taken ten
Speaker 3: thousand dollars out of her checking account. She called the
Speaker 3: bank back and fortunately after two months they did say, oh, yeah,
Speaker 3: it was our fault. We should have we should have
Speaker 3: done something more about that when you first reported it,
Speaker 3: but they had to prove that it was fraudulent. That's
Speaker 3: how fast these things can happen. You might click on
Speaker 3: something you may have totally had nothing to do with it.
Speaker 3: We just want you to be on top of everything
Speaker 3: you're doing. And again, as CG said, in the holiday season,
Speaker 3: we get wrapped up in other things and it's harder
Speaker 3: to keep track. So what we're going to suggest here
Speaker 3: for many people is, look, get restricting your access to
Speaker 3: your credit. So what we would suggest is you consider
Speaker 3: putting a credit freeze on your credit and what that
Speaker 3: does is a credit freeze stops identity thieves from opening
Speaker 3: accounts in your name. It doesn't affect your ability to
Speaker 3: use existing credit cards, so whatever you have will totally
Speaker 3: be fine, but it requires lifting the freeze when applying
Speaker 3: for new credits. So let's say my credit is frozen,
Speaker 3: I decide I'm going to go buy a car. They
Speaker 3: run my credit, they're showing a block on it. I'm like, oh, yeah,
Speaker 3: I have to unfreeze my credit for them to see
Speaker 3: my credit. But what it stops people from doing is
Speaker 3: opening up accounts in your name unbeknownst to you. And
Speaker 3: that is the rude rude awakening when you find out
Speaker 3: someone's tried to take a mortgage out in your name,
Speaker 3: or they've tried to take out multiple credit lines, which
Speaker 3: is not going to be easy for you to fix.
Speaker 3: So you can freeze or unfreeze your credits fairly simple
Speaker 3: and it's actually free. You can do that through the
Speaker 3: three major credit reporting agencies. You can go to Equifax, Experience,
Speaker 3: and TransUnion. You can go individually to them, you can
Speaker 3: do it online, or you could also call them on
Speaker 3: the phone. Now they of course, they of course have
Speaker 3: situations where they will sell you a membership. You don't
Speaker 3: even need to do that. You can actually do it
Speaker 3: for free at each of those locations. So, with regards
Speaker 3: to identity theft prevention, some key steps to include believe
Speaker 3: it or not. Protect your Social Security number. If people
Speaker 3: have your social your date of birth, and your name,
Speaker 3: they can do a lot of damage with that, so
Speaker 3: you need to keep that number secure. Use the strong
Speaker 3: pass for passwords that CJ was talking about with multi
Speaker 3: factor authentication. Regularly review your credit reports. Again, if you
Speaker 3: freeze your credit, that's a great thing. Or if you
Speaker 3: don't freeze your credit, you should at least be taking
Speaker 3: advantage of checking your credit annually. You can go to
Speaker 3: annualcreditreport dot com. You can actually download your credit reports
Speaker 3: for free and make sure there's no accounts on there
Speaker 3: that you don't recognize. Again, freezing your credit. The next
Speaker 3: one is shredding sensitive documents and limiting. So we'll start
Speaker 3: with that shredding sensitive documents. A lot of people still
Speaker 3: have paper coming into their household with statements. We would
Speaker 3: recommend once you see that ShredIt, if you need another
Speaker 3: copy of it, you can reach out to, you know,
Speaker 3: the institution that that that came in from. But there's
Speaker 3: so much sensitive information on documents you might receive in
Speaker 3: your house. Limit what you share on social media. A
Speaker 3: lot of people like to play those games. It says
Speaker 3: what's your favorite color or what's your where'd you go
Speaker 3: to high school? All this will believe me, all the
Speaker 3: information is being taken in by people that you don't
Speaker 3: want to have taken it in and they could use
Speaker 3: it against you. And then identity protection services, we'll talk
Speaker 3: about this in a minute. There's LifeLock and there's considerations
Speaker 3: there if you should or should not use it. You
Speaker 3: can also go to credit Karma credit karma dot com
Speaker 3: again another free service. They will try to, you know,
Speaker 3: sign you up for other things, but it's actually a
Speaker 3: free service where you can monitor the credit usage on
Speaker 3: a daily basis. So we just want you to you know,
Speaker 3: while you maybe can't prevent identity theft, maybe you can
Speaker 3: slow it down if you're more aware.
Speaker 1: Talking this morning with maliak Quavis and cdat Costs. They
Speaker 1: are our retirement planning professionals from Class Financial. Some fantastic
Speaker 1: tools and some great things to be aware of provided
Speaker 1: by our friends at COSS Financial. Don't forget if you
Speaker 1: missed any part in today's program, you could always listen
Speaker 1: back online. COSS Financial dot Com. That's Coss k l
Speaker 1: AA S Financial dot Com. They're tophoe uper for the
Speaker 1: office right here in Madison. Six so eight four four
Speaker 1: two five six three seven. No charge for that initial
Speaker 1: get to Know your appointment tech Loss Financial. It will
Speaker 1: be comp entry to you again. Their number six oh
Speaker 1: eight four four two five six three seven ooks into
Speaker 1: our conversation with CJ and Malia. We'll talk more with
Speaker 1: them about protecting your credit and some other options out
Speaker 1: there when it comes to monitoring your credit. We'll get
Speaker 1: those details next as Money in Motion with Class Financial
Speaker 1: continues right here on thirteen ten. L wu Iba talking
Speaker 1: with our retirement planning professionals CJ. Colss and Malia Quavis.
Speaker 1: Of course they come to us from COLSS Financial. I
Speaker 1: hope you've had a chance to check out the website.
Speaker 1: If not, head on over Cossfinancial dot com. That's Class
Speaker 1: k l a A S Financial dot Com and they're
Speaker 1: telephon number for the office right here in Madison. Six
Speaker 1: oh eight four four two five six three seven. No
Speaker 1: charge for that initial gets to Know your appointment tech
Speaker 1: Loss Financial it will be complimentary to you again the
Speaker 1: number six oh eight four four two, five, six three seven.
Speaker 1: Talking this week, of course, with the holidays, a lot
Speaker 1: of us taking out that credit card and spending, and
Speaker 1: of course sometimes you get those those bills at the
Speaker 1: end of the month. You're kind of going through and
Speaker 1: trying to see, hey, what's going on there. We're talking
Speaker 1: about preventing and protecting yourself when it comes to things
Speaker 1: like fraud and those areas. And had some great, great
Speaker 1: information just before the break about some of the tools
Speaker 1: out there that you can use. And so what if
Speaker 1: you say, you know, you want to monitor your own
Speaker 1: credit CJ. Are there some options out there for folks.
Speaker 2: Yeah, so Malia kind of hinted at some of this,
Speaker 2: but I'm going to dig into it a little bit deeper.
Speaker 2: So there are companies out there like LifeLock, and Malia
Speaker 2: mentioned credit Karma and different services, but there's some there's
Speaker 2: some great resources available and we would we would point
Speaker 2: you to a couple that are that are free tools
Speaker 2: for now. One would be Annual Credit Report dot Com
Speaker 2: offers free yearly credit reports, and then credit Karma dot
Speaker 2: Com provides daily monitoring and actually credit report services I
Speaker 2: think the only difference there is I think credit Karma's
Speaker 2: is not technically your credit score. It's more of a
Speaker 2: credit it's a credit like estimate. But you know, I'll
Speaker 2: hold up my hand. I use credit karma dot com.
Speaker 2: They will actually send me an email if my social
Speaker 2: Security number or data birth are ever used to open
Speaker 2: up credit anywhere. And I've tested this by the way.
Speaker 2: I've opened up a new credit card and literally immediately
Speaker 2: while the credit card was being opened up, I got
Speaker 2: an email and a notice from Credit Card I saying,
Speaker 2: you know, alert Alert. So there's some really cool tools there.
Speaker 2: But Malia just mentioned previously, we would be a big
Speaker 2: fan of actually freezing your credit. If you don't need
Speaker 2: your credit open, just shut her down, right Dan, you go,
Speaker 2: you know what, but it's going to hurt my ability
Speaker 2: to use my credit card. No, no, no no no.
Speaker 2: Anything that's currently open you can continue to use. But
Speaker 2: if you just want to freeze your credit, then nobody
Speaker 2: can use your data birth and social Security number to
Speaker 2: open anything up, which is a great option that exists
Speaker 2: out there, but kind of changing changing focuses here. We
Speaker 2: would also really suggest that you'd be alert to phishing
Speaker 2: and spoofing in your emails. My goodness, gracious, I personally
Speaker 2: am just flabbergasted by how much of an increase there
Speaker 2: has been in this regard in the line. I'll call
Speaker 2: it two years.
Speaker 3: So.
Speaker 2: Phishing is a type of online scam where a cyber
Speaker 2: criminal sends a fraudulent communication that appears to come from
Speaker 2: a legitimate source. The goal of phishing is to trick
Speaker 2: the victim into providing sensitive information such as passwords, bank
Speaker 2: account number, or credit card details. Here would be an example. Hey,
Speaker 2: you your Microsoft Office three sixty five log in isn't working.
Speaker 2: Just click here and reconnect your online Office three sixty five. Right,
Speaker 2: And it's got kind of like a Microsoft logo on
Speaker 2: it and comes in an email, and you just go, oh, oh, okay,
Speaker 2: well I have at Microsoft Office three sixty five. Just
Speaker 2: click and I'll just re enter my username and password.
Speaker 2: The problem is you're not going to the right site.
Speaker 2: That's a phishing scam. Often you're not going to the
Speaker 2: right website. You're clicking on the hyperlink that takes you
Speaker 2: to a spoofing site that you then enter use and
Speaker 2: name and password. They've now got access to your Office
Speaker 2: three sixty five license so phishing attacks can be carried
Speaker 2: out through email or text messages. The attacker may pretend
Speaker 2: to be from a very well known company such as
Speaker 2: a bank, internet service provider, or mortgage company. The message
Speaker 2: may create a sense of urgency, such as like threatening
Speaker 2: account suspension or job loss or money loss. And the
Speaker 2: attacker may also include a link to a malicious website
Speaker 2: that contains malware. So I'll again using me as a
Speaker 2: simple example of this, I probably get two of these
Speaker 2: a week, no joke between text and email. I get
Speaker 2: two of these a week, and often it contains the urgency.
Speaker 2: I get voicemails with literally human beings who are leaving
Speaker 2: voicemails saying we've been trying to get a hold of you,
Speaker 2: and since we're not getting a hold of you, we
Speaker 2: are shutting down your bank accounts. Now you need to
Speaker 2: call us back like it's crazy, y'all. So you just
Speaker 2: really need to be careful. And then spoofing is a
Speaker 2: cyber crime. I'm where a person or entity impersonates a
Speaker 2: legitimate source to gain access to a personal information, money,
Speaker 2: or data. So spoofing can take many forms, such as
Speaker 2: let's say that you just throw away a letter in
Speaker 2: your trash from your bank, right, it's just a statement.
Speaker 2: You throw it away. And somebody sees that CJ. Closs
Speaker 2: has a bank account at I don't know. I'm going
Speaker 2: to use a you know, a gimmicky one XYZ bank.
Speaker 2: Well they can just send me an email saying I
Speaker 2: am the manager from x y Z bank and you've
Speaker 2: lost you're using him and password needs to be reset.
Speaker 2: Click here and enter. You're just re enter. You're using
Speaker 2: hime and password for XYZ bank. Do you realize how
Speaker 2: easy that is? So anyway, I need to call myself down.
Speaker 2: You can sense my urgency here. It is really stuff
Speaker 2: that you need to be careful about.
Speaker 1: Talk this morning with CJ. Closs and Moleia Quavis. They
Speaker 1: are our retirement planning professionals from Class Financial. Really important information.
Speaker 1: Obviously you can hear the passion when CJ talks about
Speaker 1: this stuff, and as well you'll learn more about Class
Speaker 1: Financial their website coss Financial dot com. That's k l
Speaker 1: a as Financial dot com and they're telephe number six
Speaker 1: so eight four four two five six three seven And
Speaker 1: email spoofing isn't the only type of spoofing out there
Speaker 1: is their.
Speaker 2: CJ that's right, Sean, So I mentioned, you know, spoofing.
Speaker 2: There there's email spoofing, which which we have had crazy
Speaker 2: enough inside of our own organization. Spoofing of our CEO
Speaker 2: sent to all of our by the way, our CEO
Speaker 2: is Malia, right, So a spoofing of Malia sent to
Speaker 2: our employees saying payroll needs information from you. I mean
Speaker 2: it's crazy, right. Caller ID spoofing, so this is a
Speaker 2: scammer changes their phone number and caller ID name to
Speaker 2: appear as if they're calling from a local number or
Speaker 2: a trusted company or a government agency. And then text
Speaker 2: message spoofing, which is also known as smishing. This is
Speaker 2: when a text message appears to be from a legitimate source.
Speaker 2: So you get the idea, everybody, man, these are getting creative.
Speaker 2: We would just say to you, you're gonna have to
Speaker 2: risk not responding to a legitimate source by you know,
Speaker 2: in terms of protecting your own credit in your own situation.
Speaker 2: So we would we would prefer that a family member
Speaker 2: ends up calling you going why did you not respond
Speaker 2: to my text message? Then to end up in a
Speaker 2: situation where you have months and months and months of
Speaker 2: having to recover your credit.
Speaker 1: I know, it's a serious thing. But for some reason,
Speaker 1: the words smishing always for some reason. But this stuff
Speaker 1: is very very serious, it's very very important. As we
Speaker 1: talk about some of the warnings, I've known computer experts
Speaker 1: who have gotten gotten unfortunately had had their their accounts compromise.
Speaker 1: Because this stuff is very convincing, as Ce Jmilie are
Speaker 1: talking this morning. Definitely, be very very careful, very very cautious.
Speaker 1: If you missed any part of today's show where you
Speaker 1: want to share today's program with family members, please do that.
Speaker 1: Head on over to Classfinancial dot com. That's closs k
Speaker 1: l a A S Financial dot com. You can listen
Speaker 1: and subscribe to the podcast right there online telephone number
Speaker 1: six oh eight four four two five six three seven.
Speaker 1: Don't forget no charge for that initial gets know you
Speaker 1: appointment tech co Loss Financial. It will be complimentary to
Speaker 1: you again their numbers six oh eight four four two
Speaker 1: five six three seven. Talking about some of the modern
Speaker 1: takes on h on trying to take advantage of folks
Speaker 1: when it comes to their credit, also some old fashioned ways.
Speaker 1: We'll get some details on that. We'll do the class
Speaker 1: quiz question ly week next. As Money in Motion continues
Speaker 1: right here on thirteen ten WIBI. This says money in
Speaker 1: motion with COSS Financial as mentioned the website colssfinancial dot com.
Speaker 1: That's Coss k l Aasfinancial dot com. They're telephon number
Speaker 1: six O eight four four two five six three seven.
Speaker 1: It's a great time a year all who doesn't love
Speaker 1: this time a year? Problem is, you can sometimes be
Speaker 1: put in a compromising situation when it comes to fraud
Speaker 1: and your credit and your financial information, very very important stuff.
Speaker 1: As we talked this morning with CJ and Malia from
Speaker 1: Class Financial, and we were talking about some of the
Speaker 1: more high tech stuff things like emails and spoofing caller ID,
Speaker 1: there are some low tech ways as well that folks
Speaker 1: are being victimized and things like mailbox mailbox fraud. That
Speaker 1: is something that really goes on. What can folks do,
Speaker 1: Malia to protect themselves there?
Speaker 3: Yeah, So I know people feel sometimes safer, kind of
Speaker 3: old school. I put in a mailbox. I just feel
Speaker 3: better about that paying my bills that way than doing online.
Speaker 3: I totally understand that. But quite honestly, criminals target mailboxes
Speaker 3: to steal sensitive information like checks and credit card offers
Speaker 3: or bills. So number one, if you get credit card
Speaker 3: offers in the mail, which I'm pretty sure everyone does.
Speaker 3: Shred those, don't just throw them back in the trash.
Speaker 3: Shred those, or as my client the other day said,
Speaker 3: I just burn everything that comes through the door. It's like, okay, burn.
Speaker 3: But a few simple steps to help you out with
Speaker 3: regards to your mailbox. Never, never, never leave mail sitting
Speaker 3: in your box for too long if you're heading out
Speaker 3: of town, put a hold on your mail through USPS, USPS,
Speaker 3: or ask a trusted neighbor to pick it up for you. Second,
Speaker 3: consider switching to a locking mailbox for extra protection, or
Speaker 3: even use a PO box for important mail. So, as
Speaker 3: I said, shred sensitive documents. And then finally consider we're
Speaker 3: a big proponent of this. Finally, consider receiving all your
Speaker 3: financial statements online versus in the mail. This really really
Speaker 3: has cut down I believe a lot of that mailbox
Speaker 3: fraud by people who have switched to an electronic intake
Speaker 3: of their sensitive financial information. A couple more things I
Speaker 3: want to add here too, for you, is back to
Speaker 3: talking about checking on your credit card statements. You really
Speaker 3: need to be doing this quite frequently, at least monthly,
Speaker 3: because I know what happens sometimes again during the holidays,
Speaker 3: is we kind of kind of glanced, but we don't
Speaker 3: really pay attention. And there is a time limit for
Speaker 3: you to be able to argue charges that are on
Speaker 3: credit cards. So if you see a charge you do
Speaker 3: not recognize, it's best to notify your credit card company
Speaker 3: within that first thirty days. And then finally, you know,
Speaker 3: we're talking about this phishing FYI that spelled pH not
Speaker 3: FI for all of you fishermen out there. Phishing is
Speaker 3: with a pH. But you want to be careful about
Speaker 3: anything you click on. If you get a text and
Speaker 3: you click on. I just had a client unfortunately do this.
Speaker 3: They clicked on a text. It gave them a phone number,
Speaker 3: as supposedly was from Apple. They called the phone number,
Speaker 3: and they had just gotten a new computer. They called
Speaker 3: the phone number. They unfortunately gave out personal identifiable information
Speaker 3: and the fraudster and this happened two weeks ago. The
Speaker 3: fraudster took out twenty thousand dollars direct from their bank account.
Speaker 3: And so of course the person feels horrible that they
Speaker 3: gave all this information out. But I'll tell you age.
Speaker 3: You know, it doesn't matter what age you are. A
Speaker 3: simple click a simple phone call to what you believe
Speaker 3: is a legitimate source that was not recoverable money, and
Speaker 3: it was it was the client's fault. But I'm just
Speaker 3: telling you that's why CJ and I are like, please
Speaker 3: please control what you have because someone out there is
Speaker 3: trying to, you know, take it from you.
Speaker 1: Be very very careful. Really great information this week, as
Speaker 1: always from our retirement planning professionals from Class Financial, CJ.
Speaker 1: Closs and Malia Quavis. You can learn more about Class
Speaker 1: Financial their website Cossfinancial dot com. That's Coss k l
Speaker 1: a A s Financial dot com. Telephone number six soh
Speaker 1: eight four four two five six three seven. No charge
Speaker 1: for that initial get to know your appoyment tech COSS Financial.
Speaker 1: It will be complimentary to you again their number six
Speaker 1: oh eight four four two five sixty three seven. You're
Speaker 1: also going to hold on to that telephone number because
Speaker 1: it's time now for the Class Quiz Question the Week.
Speaker 1: It works like this and just a moment, I'll ask
Speaker 1: you the class Quiz question the Week with then if
Speaker 1: third minutes from the today's program, to call the Class
Speaker 1: Financial office right here in Madison at six oh eight
Speaker 1: four four two five six three seven first Gart correct
Speaker 1: answer when this week's prize for say twenty five dollars
Speaker 1: gift card to best Buy. This week's class quiz question
Speaker 1: the week is this It's true or false? True or false.
Speaker 1: Putting a credit freeze on your account prevents identity thieves
Speaker 1: from opening accounts in your name. Telephone number six oh
Speaker 1: eight four four two five six three seven first Gart
Speaker 1: correct answer when the twenty five dollars gift card to
Speaker 1: best Buy. And again that's Class Financial's office right here
Speaker 1: in Madison. No charge that Ania gets to know you
Speaker 1: apployment at Colss Financial. It will be complimentary to you
Speaker 1: again their number six oh eight four four two five
Speaker 1: six three seven C J. Malia. It's always great chatting
Speaker 1: with you guys. Have a fantastic couple of weeks. Of course,
Speaker 1: next week is Thanksgiving you guys. Enjoy time with your
Speaker 1: family and look forward to doing it all again real soon.
Speaker 2: Thanks Er Sewan.
Speaker 1: Seeay guys. Doctor Marty Greer comes your way next here
Speaker 1: at thirteen ten WIBA