Latest / Money In Motion with Klaas Financial / Keeping Your Finances and Identity Safe This Holiday Season

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Keeping Your Finances and Identity Safe This Holiday Season · Money In Motion with Klaas Financial

• 0:03
  Speaker 1: This is money in motion with Coss Financial right here
• 0:06
  Speaker 1: on thirteen ten double ui b A the website for
• 0:09
  Speaker 1: Coss Financial, It's just that Cossfinancial dot com. That's Coss
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  Speaker 1: k l a a s Financial dot com. Great website
• 0:16
  Speaker 1: to learn more about Coss Financial. There's separate divisions you
• 0:19
  Speaker 1: can get to know the team at COSS Financial. You
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  Speaker 1: can also sign up for the weekly market Pulse newsletter
• 0:24
  Speaker 1: that available to you at cossfinancial dot com. That's Coss
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  Speaker 1: k l a a s Financial dot com. Their telephone
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  Speaker 1: number six oh eight four four two five six three seven.
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  Speaker 1: No charge for the initial get to know you appointment
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  Speaker 1: tech Coss Financial. It will be complementary to you again
• 0:39
  Speaker 1: their number six oh eight four four two five six
• 0:42
  Speaker 1: three seven and joining us this morning from Coss Financial,
• 0:44
  Speaker 1: our retirement planning professionals, CJ. Coss and Malia Quavis CJ.
• 0:48
  Speaker 1: How you doing this morning?
• 0:49
  Speaker 2: I'm doing great?
• 0:50
  Speaker 3: How are you?
• 0:50
  Speaker 2: Sean?
• 0:51
  Speaker 1: Doing well? Great to chat with you, Malia, how have
• 0:53
  Speaker 1: you been very good?
• 0:55
  Speaker 3: It's a little chili outside, isn't it.
• 0:57
  Speaker 1: Just a little And it's a little snow, just enough
• 1:00
  Speaker 1: to make it a little little Harry, Yeah, yeah, so
• 1:04
  Speaker 1: it definitely looks nice out there, I guess. But we've
• 1:07
  Speaker 1: got obviously plenty of more more to come, so we'll
• 1:10
  Speaker 1: talk weather and snow and weeks. We'll think about that later.
• 1:14
  Speaker 1: Let's talk about fun stuff this morning. An opportunity to
• 1:16
  Speaker 1: win a fantastic prize with the class quiz quest leak
• 1:19
  Speaker 1: a fantastic feature of the program this week. No exception
• 1:22
  Speaker 1: of a chance to win a twenty five dollars gift
• 1:24
  Speaker 1: card to Best Buy from our friends at Coss Financial.
• 1:28
  Speaker 1: Little tip for the class quiz question leak most of
• 1:30
  Speaker 1: the time, just about every time both the question and
• 1:32
  Speaker 1: answer to the class quiz questionally come up during the program,
• 1:36
  Speaker 1: so definitely benefits to play. Pay close attention to the
• 1:39
  Speaker 1: show mentioned as well the website colssfinancial dot com. I
• 1:43
  Speaker 1: mentioned the weekly Market Pulse newsletter. I didn't mention. If
• 1:46
  Speaker 1: you miss any part of today's program or want to
• 1:48
  Speaker 1: listen back to the shows, you can actually listen to
• 1:50
  Speaker 1: the podcast right online at clossfinancial dot com. This week,
• 1:53
  Speaker 1: we're going to talk about with the holiday season upon us, fraud,
• 1:56
  Speaker 1: big thing things you can do to help prevent potential fraud.
• 2:00
  Speaker 1: Really important tips ahead on this week's program and before
• 2:03
  Speaker 1: we start talking about that topic. Let's actually take a
• 2:06
  Speaker 1: look back Maliah last week's program and look at the
• 2:08
  Speaker 1: clas quiz question week get the question and answer there
• 2:11
  Speaker 1: as well.
• 2:12
  Speaker 3: Yeah, so as we're wrapping up twenty twenty four, we
• 2:15
  Speaker 3: like to point out things people should be aware of,
• 2:17
  Speaker 3: which last week we discussed required minimum distributions. What you
• 2:21
  Speaker 3: should know about that and just make sure that you
• 2:24
  Speaker 3: are on track to have taken out everything you are
• 2:27
  Speaker 3: required to take out and pay taxes on the irs. Well,
• 2:30
  Speaker 3: thank you for that, so make sure you listen back
• 2:32
  Speaker 3: to that show. Our question revolved around rmds true or
• 2:36
  Speaker 3: false if you were born in nineteen sixty or after
• 2:40
  Speaker 3: your RMD age is currently set for age seventy five.
• 2:44
  Speaker 3: The answer to that question was true, and Dennis I.
• 2:48
  Speaker 3: WannaKey was our first correct answer for calling in last week,
• 2:52
  Speaker 3: so congratulations to him. Listen carefully to today's show.
• 2:56
  Speaker 1: Very very good program last week. Congratulations to Dennis, and
• 2:59
  Speaker 1: as mentioned, you can listen back to last week's program.
• 3:02
  Speaker 1: Really important information and a really good show. Again that's
• 3:05
  Speaker 1: available to you at klossfinancial dot com. This week, of course,
• 3:09
  Speaker 1: we'll be talking about as we look towards the holiday season,
• 3:11
  Speaker 1: a lot of folks start spending more money around the holidays,
• 3:15
  Speaker 1: and of course you want to keep track of money,
• 3:17
  Speaker 1: and of course money in and out of your accounts,
• 3:19
  Speaker 1: also things like credit cards, some changes there, maybe a
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  Speaker 1: note something that I didn't make that. So today we're
• 3:24
  Speaker 1: actually going to be talking about some great tips to
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  Speaker 1: help potential fraud, aren't we CJ.
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  Speaker 2: Yeah, we are. So this time of the year, we're
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  Speaker 2: also busy with everything with holiday shopping and getting ready
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  Speaker 2: for family to come over that it can be easy
• 3:41
  Speaker 2: to get distracted and miss some important things that might
• 3:44
  Speaker 2: be happening behind the scenes. So the FTC, the Federal
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  Speaker 2: Trade Commission, reports that consumers lost over ten billion, yes
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  Speaker 2: billion with a B last year due to fraud. And
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  Speaker 2: obviously we don't want anyone becoming one of these statistics
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  Speaker 2: and being part of that that category. So we spend
• 4:01
  Speaker 2: a lot of time working with individuals helping them plan
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  Speaker 2: for their retirement. And while we're not trying to scare anyone,
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  Speaker 2: we truly do want people to be aware of how
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  Speaker 2: they can protect themselves. So, believe it or not, in
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  Speaker 2: our line of work being retirement planning, financial planners, investment advisors,
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  Speaker 2: fraud shows up. It shows up in the form of
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  Speaker 2: people calling us and saying, hey, I need money out
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  Speaker 2: of my account to get the lottery winnings out of
• 4:28
  Speaker 2: the vault, and we go say what, Or I need
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  Speaker 2: money out because I need to go buy some some
• 4:34
  Speaker 2: gift cards because my child is in jail and Ghana
• 4:38
  Speaker 2: and we say what. So you get the idea not
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  Speaker 2: to mention, you know, fraudulent access to account all of this.
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  Speaker 2: So that is the topic we're going to be discussing today.
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  Speaker 2: So let's begin with online safety for our listeners. This
• 4:51
  Speaker 2: begins with robust password practices. Strong passwords really are your
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  Speaker 2: first line of a good defense. A secure password should
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  Speaker 2: combine uppercase and lower case letters, numbers, and special characters,
• 5:06
  Speaker 2: avoid personal information like names or birthdays, birthdates, and use
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  Speaker 2: unique passwords for every account. This will prevent a breach
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  Speaker 2: in one account from compromising others. So listen, I am
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  Speaker 2: part of a household. I have teenage daughters and a
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  Speaker 2: ten year old son. I have a spouse. I know
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  Speaker 2: just how easy it is to use the same replica
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  Speaker 2: over and over and over, especially if you say, well, gosh,
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  Speaker 2: I can't remember all the unique ones, so I'll just
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  Speaker 2: do three or four or five different variations. Listen, I've
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  Speaker 2: heard it all. I've seen it all. And what I
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  Speaker 2: can say to you is, don't go down the easy
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  Speaker 2: paths of using the same replicas, or of using really
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  Speaker 2: easy user names and passwords, or of saying I'll just
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  Speaker 2: write it down on my desk on a piece of paper.
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  Speaker 2: Don't do it. Instead, If if you're willing to be
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  Speaker 2: humble and listen to this, we're going to give you
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  Speaker 2: some steps where you can use unique you use unique
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  Speaker 2: user names of passwords, but still have it be secure
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  Speaker 2: and have it be something that you can access and remember.
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  Speaker 2: So stick with us here. So again, an uppercase lowercase number,
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  Speaker 2: special characters, don't use any consistency, don't use birthdays and names,
• 6:28
  Speaker 2: and believe it or not, here's a fun little fact
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  Speaker 2: for you. The most common passwords that are used are
• 6:34
  Speaker 2: one two three four one one one one one one
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  Speaker 2: uh The most one of the most common passwords is password.
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  Speaker 2: Another one is admin one two three or zero zero
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  Speaker 2: zero zero zero zero zero. Don't do that. Don't do that,
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  Speaker 2: and people go, oh, don't worry, I don't, I just
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  Speaker 2: use my data birth don't do that either, right, make
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  Speaker 2: it completely unique, something that if you relied on your brain,
• 6:59
  Speaker 2: you never be able to remember. Okay, and we're going
• 7:04
  Speaker 2: to talk about how you're going to gain access to
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  Speaker 2: that because you might be going, well, how do you
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  Speaker 2: do that? If it's completely unique? I would never remember.
• 7:09
  Speaker 2: We'll get to that in a moment.
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  Speaker 1: Talking this morning with CJ. Colossimlia Quavis our retirement planning
• 7:13
  Speaker 1: professionals from Class Financial, the website class financial dot com.
• 7:16
  Speaker 1: That's Closs k l aas Financial dot com. Now they're
• 7:19
  Speaker 1: telephone number six, So eight four four two five six
• 7:22
  Speaker 1: three seven. So let's kint to get into some of
• 7:24
  Speaker 1: those security features out there. CJ.
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  Speaker 2: Yeah. So, so one enhanced security measure that we are
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  Speaker 2: huge fans of is known as MFA multi factor authentication.
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  Speaker 2: It's the idea of I have a unique username, a
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  Speaker 2: unique password, and then even beyond that, I have to
• 7:40
  Speaker 2: have a secondary layer of authentication. Now, this could be
• 7:44
  Speaker 2: things like a like Microsoft has a has an app
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  Speaker 2: that you can download that generates a unique code. This
• 7:51
  Speaker 2: could also be your cell phone that you get a
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  Speaker 2: text message text to you so that when you're logging in,
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  Speaker 2: it just texts you if it's a if it's unknown,
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  Speaker 2: IP address huge fans of multi factor authentication that just
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  Speaker 2: by that feature alone, you will dramatically reduce the likelihood
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  Speaker 2: of somebody fraudulently accessing your account, because, as you can imagine,
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  Speaker 2: if somebody accidentally gets old of that information and you
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  Speaker 2: don't have it multi factor authentication, boom, they're into your account.
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  Speaker 2: But if instead you say, well, gosh, I have these
• 8:22
  Speaker 2: unique things going on, but I accidentally shared it with
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  Speaker 2: the wrong person, or I put it on whatever, you
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  Speaker 2: dramatically reduce probability of them getting in there if a
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  Speaker 2: text message has to come to you. Okay, so I've
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  Speaker 2: been hinting at this. We do understand that managing multiple
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  Speaker 2: passwords and user names that are all unique can be overwhelming,
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  Speaker 2: which is where a password manager comes in handy. Now,
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  Speaker 2: I just want to address because I've heard this from
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  Speaker 2: innumerable clients and friends and family members. But SoJ, can
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  Speaker 2: you really say to me that your solution for managing
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  Speaker 2: passwords is to put them online? Yes? Yes, and I
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  Speaker 2: know that sounds crazy, but the answer is yes. Otherwise
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  Speaker 2: your solution is what to put it in your purse,
• 9:07
  Speaker 2: to put it in your desk, to put it in
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  Speaker 2: a little black folder that anybody can go grab and steal,
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  Speaker 2: at which point you lose them all. There are professional
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  Speaker 2: password storage managers that have military level encryption. Listen. The
• 9:20
  Speaker 2: military uses these, the federal government uses these. That are
• 9:24
  Speaker 2: password storage managers that are very secure that require like
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  Speaker 2: six different ways. There are six different layers of security
• 9:32
  Speaker 2: to get into them. Some of them would be like
• 9:35
  Speaker 2: one password. I noticed during the last I think it
• 9:37
  Speaker 2: was a maybe it's the World Cup or some sort
• 9:42
  Speaker 2: of football game that they were referencing one password. But
• 9:44
  Speaker 2: one password is a great one. It's actually one that
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  Speaker 2: we use here at Class Financial. Another one is nord
• 9:49
  Speaker 2: pass or dash Lane, and there's many others. Do your research,
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  Speaker 2: find one with military grade encryption on it, get very
• 9:57
  Speaker 2: involved in understanding how it works, and then use that
• 10:00
  Speaker 2: password storage manager. So listen. Everybody I personally, between business
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  Speaker 2: and family, have upwards of one hundred different completely unique
• 10:10
  Speaker 2: user names and passwords. I would never be able to
• 10:14
  Speaker 2: remember those. If I was relying on my brain, I
• 10:18
  Speaker 2: would not have much uniqueness to it at all. But
• 10:21
  Speaker 2: because I have one password, I can generate those, I
• 10:25
  Speaker 2: can save those, and then any time I go to
• 10:27
  Speaker 2: the site, I can just go in and you might go,
• 10:29
  Speaker 2: what do you mean one password? One password is the
• 10:31
  Speaker 2: name of the technology. I need one password to access
• 10:37
  Speaker 2: my plethora of unique usernames and passwords gaining acts to that.
• 10:42
  Speaker 2: Access to that requires a lot of security. So do
• 10:47
  Speaker 2: your due diligence and get involved in that. But I
• 10:49
  Speaker 2: just cannot suggest to you enough. We see so much
• 10:53
  Speaker 2: problem in the way that our clients, our family and
• 10:56
  Speaker 2: friends are handling user names and passwords. We just can't
• 10:59
  Speaker 2: suggest the U. Really do your due diligence and set
• 11:02
  Speaker 2: something up that's more secure.
• 11:04
  Speaker 1: One of things too, I heard you mentioned there too,
• 11:06
  Speaker 1: and sometimes people are saying like, well, what about generating
• 11:09
  Speaker 1: those passwords? A lot of these programs will generate just
• 11:14
  Speaker 1: really long, really complex, really secure passwords and do that
• 11:17
  Speaker 1: for you as well, something that you would never in
• 11:20
  Speaker 1: a millionaires think of. And that's one of the great benefits.
• 11:22
  Speaker 1: We talked this morning with CJ. Coloss and Malia Equavis.
• 11:25
  Speaker 1: They are our retirement planning professionals from Class Financial. So CJ,
• 11:28
  Speaker 1: let's talk about then protecting your identity. And excuse me, Maleia,
• 11:32
  Speaker 1: I apologize protecting your identity and why now it's such
• 11:36
  Speaker 1: an important thing compared maybe with years previous.
• 11:40
  Speaker 3: Yeah, so it certainly is, and we're going to talk
• 11:43
  Speaker 3: about the idea of a credit freeze. But I did
• 11:46
  Speaker 3: want to reflect on what CJ said about these passwords.
• 11:49
  Speaker 3: You know, I walked into an office depot recently and
• 11:55
  Speaker 3: looking at their stationery and so forth, and I came
• 11:57
  Speaker 3: across a little black book and it said password book
• 12:02
  Speaker 3: and I just cringed. I'm like, these are still for sale.
• 12:05
  Speaker 3: People are still buying these. People are writing their passwords
• 12:08
  Speaker 3: in them, and you know what, they put them in
• 12:11
  Speaker 3: their purse if they're you know, the ladies, or their
• 12:14
  Speaker 3: backpacks or and I'm like, no, we cannot go backwards
• 12:18
  Speaker 3: because that is just not going to be a good situation. So,
• 12:23
  Speaker 3: you know, we talk about everyone when we have these
• 12:26
  Speaker 3: conversations with our clients. This is what we hear. They say, Well,
• 12:29
  Speaker 3: I'm sharp, I'm not going to respond to anything that's
• 12:36
  Speaker 3: emailed to me if I don't know where it's coming from.
• 12:38
  Speaker 3: We're going to get into that in a minute. Everyone
• 12:41
  Speaker 3: believes that they won't be the person that actually has
• 12:45
  Speaker 3: fraud committed against them, and that's where we're like, actually,
• 12:48
  Speaker 3: it can happen at any point. I'll tell you a
• 12:53
  Speaker 3: personal story. My daughter noticed. This was last year. She
• 12:58
  Speaker 3: noticed that she had two charges on her checking account
• 13:03
  Speaker 3: that did not belong to her. They were very small
• 13:05
  Speaker 3: charges from Google for about three dollars four dollars, and
• 13:10
  Speaker 3: she reported to the bank right away. They said, oh,
• 13:12
  Speaker 3: it's nothing to worry about, you know, we'll we'll let
• 13:15
  Speaker 3: you know if there's an issue. Well, two days later,
• 13:18
  Speaker 3: day four, they had taken the fraudsters had taken ten
• 13:22
  Speaker 3: thousand dollars out of her checking account. She called the
• 13:26
  Speaker 3: bank back and fortunately after two months they did say, oh, yeah,
• 13:30
  Speaker 3: it was our fault. We should have we should have
• 13:32
  Speaker 3: done something more about that when you first reported it,
• 13:35
  Speaker 3: but they had to prove that it was fraudulent. That's
• 13:38
  Speaker 3: how fast these things can happen. You might click on
• 13:42
  Speaker 3: something you may have totally had nothing to do with it.
• 13:46
  Speaker 3: We just want you to be on top of everything
• 13:49
  Speaker 3: you're doing. And again, as CG said, in the holiday season,
• 13:52
  Speaker 3: we get wrapped up in other things and it's harder
• 13:54
  Speaker 3: to keep track. So what we're going to suggest here
• 13:58
  Speaker 3: for many people is, look, get restricting your access to
• 14:01
  Speaker 3: your credit. So what we would suggest is you consider
• 14:06
  Speaker 3: putting a credit freeze on your credit and what that
• 14:11
  Speaker 3: does is a credit freeze stops identity thieves from opening
• 14:15
  Speaker 3: accounts in your name. It doesn't affect your ability to
• 14:18
  Speaker 3: use existing credit cards, so whatever you have will totally
• 14:22
  Speaker 3: be fine, but it requires lifting the freeze when applying
• 14:26
  Speaker 3: for new credits. So let's say my credit is frozen,
• 14:29
  Speaker 3: I decide I'm going to go buy a car. They
• 14:32
  Speaker 3: run my credit, they're showing a block on it. I'm like, oh, yeah,
• 14:35
  Speaker 3: I have to unfreeze my credit for them to see
• 14:37
  Speaker 3: my credit. But what it stops people from doing is
• 14:41
  Speaker 3: opening up accounts in your name unbeknownst to you. And
• 14:44
  Speaker 3: that is the rude rude awakening when you find out
• 14:47
  Speaker 3: someone's tried to take a mortgage out in your name,
• 14:50
  Speaker 3: or they've tried to take out multiple credit lines, which
• 14:53
  Speaker 3: is not going to be easy for you to fix.
• 14:56
  Speaker 3: So you can freeze or unfreeze your credits fairly simple
• 15:01
  Speaker 3: and it's actually free. You can do that through the
• 15:04
  Speaker 3: three major credit reporting agencies. You can go to Equifax, Experience,
• 15:09
  Speaker 3: and TransUnion. You can go individually to them, you can
• 15:12
  Speaker 3: do it online, or you could also call them on
• 15:15
  Speaker 3: the phone. Now they of course, they of course have
• 15:19
  Speaker 3: situations where they will sell you a membership. You don't
• 15:21
  Speaker 3: even need to do that. You can actually do it
• 15:24
  Speaker 3: for free at each of those locations. So, with regards
• 15:28
  Speaker 3: to identity theft prevention, some key steps to include believe
• 15:32
  Speaker 3: it or not. Protect your Social Security number. If people
• 15:36
  Speaker 3: have your social your date of birth, and your name,
• 15:40
  Speaker 3: they can do a lot of damage with that, so
• 15:43
  Speaker 3: you need to keep that number secure. Use the strong
• 15:46
  Speaker 3: pass for passwords that CJ was talking about with multi
• 15:49
  Speaker 3: factor authentication. Regularly review your credit reports. Again, if you
• 15:55
  Speaker 3: freeze your credit, that's a great thing. Or if you
• 15:57
  Speaker 3: don't freeze your credit, you should at least be taking
• 16:00
  Speaker 3: advantage of checking your credit annually. You can go to
• 16:04
  Speaker 3: annualcreditreport dot com. You can actually download your credit reports
• 16:10
  Speaker 3: for free and make sure there's no accounts on there
• 16:12
  Speaker 3: that you don't recognize. Again, freezing your credit. The next
• 16:17
  Speaker 3: one is shredding sensitive documents and limiting. So we'll start
• 16:21
  Speaker 3: with that shredding sensitive documents. A lot of people still
• 16:24
  Speaker 3: have paper coming into their household with statements. We would
• 16:28
  Speaker 3: recommend once you see that ShredIt, if you need another
• 16:31
  Speaker 3: copy of it, you can reach out to, you know,
• 16:34
  Speaker 3: the institution that that that came in from. But there's
• 16:36
  Speaker 3: so much sensitive information on documents you might receive in
• 16:40
  Speaker 3: your house. Limit what you share on social media. A
• 16:44
  Speaker 3: lot of people like to play those games. It says
• 16:46
  Speaker 3: what's your favorite color or what's your where'd you go
• 16:49
  Speaker 3: to high school? All this will believe me, all the
• 16:51
  Speaker 3: information is being taken in by people that you don't
• 16:54
  Speaker 3: want to have taken it in and they could use
• 16:57
  Speaker 3: it against you. And then identity protection services, we'll talk
• 17:02
  Speaker 3: about this in a minute. There's LifeLock and there's considerations
• 17:06
  Speaker 3: there if you should or should not use it. You
• 17:08
  Speaker 3: can also go to credit Karma credit karma dot com
• 17:11
  Speaker 3: again another free service. They will try to, you know,
• 17:15
  Speaker 3: sign you up for other things, but it's actually a
• 17:17
  Speaker 3: free service where you can monitor the credit usage on
• 17:21
  Speaker 3: a daily basis. So we just want you to you know,
• 17:24
  Speaker 3: while you maybe can't prevent identity theft, maybe you can
• 17:29
  Speaker 3: slow it down if you're more aware.
• 17:32
  Speaker 1: Talking this morning with maliak Quavis and cdat Costs. They
• 17:34
  Speaker 1: are our retirement planning professionals from Class Financial. Some fantastic
• 17:38
  Speaker 1: tools and some great things to be aware of provided
• 17:40
  Speaker 1: by our friends at COSS Financial. Don't forget if you
• 17:43
  Speaker 1: missed any part in today's program, you could always listen
• 17:45
  Speaker 1: back online. COSS Financial dot Com. That's Coss k l
• 17:49
  Speaker 1: AA S Financial dot Com. They're tophoe uper for the
• 17:52
  Speaker 1: office right here in Madison. Six so eight four four
• 17:54
  Speaker 1: two five six three seven. No charge for that initial
• 17:57
  Speaker 1: get to Know your appointment tech Loss Financial. It will
• 17:59
  Speaker 1: be comp entry to you again. Their number six oh
• 18:01
  Speaker 1: eight four four two five six three seven ooks into
• 18:04
  Speaker 1: our conversation with CJ and Malia. We'll talk more with
• 18:07
  Speaker 1: them about protecting your credit and some other options out
• 18:10
  Speaker 1: there when it comes to monitoring your credit. We'll get
• 18:12
  Speaker 1: those details next as Money in Motion with Class Financial
• 18:15
  Speaker 1: continues right here on thirteen ten. L wu Iba talking
• 18:19
  Speaker 1: with our retirement planning professionals CJ. Colss and Malia Quavis.
• 18:23
  Speaker 1: Of course they come to us from COLSS Financial. I
• 18:25
  Speaker 1: hope you've had a chance to check out the website.
• 18:26
  Speaker 1: If not, head on over Cossfinancial dot com. That's Class
• 18:30
  Speaker 1: k l a A S Financial dot Com and they're
• 18:32
  Speaker 1: telephon number for the office right here in Madison. Six
• 18:34
  Speaker 1: oh eight four four two five six three seven. No
• 18:37
  Speaker 1: charge for that initial gets to Know your appointment tech
• 18:39
  Speaker 1: Loss Financial it will be complimentary to you again the
• 18:42
  Speaker 1: number six oh eight four four two, five, six three seven.
• 18:45
  Speaker 1: Talking this week, of course, with the holidays, a lot
• 18:47
  Speaker 1: of us taking out that credit card and spending, and
• 18:51
  Speaker 1: of course sometimes you get those those bills at the
• 18:54
  Speaker 1: end of the month. You're kind of going through and
• 18:55
  Speaker 1: trying to see, hey, what's going on there. We're talking
• 18:57
  Speaker 1: about preventing and protecting yourself when it comes to things
• 18:59
  Speaker 1: like fraud and those areas. And had some great, great
• 19:03
  Speaker 1: information just before the break about some of the tools
• 19:06
  Speaker 1: out there that you can use. And so what if
• 19:08
  Speaker 1: you say, you know, you want to monitor your own
• 19:10
  Speaker 1: credit CJ. Are there some options out there for folks.
• 19:14
  Speaker 2: Yeah, so Malia kind of hinted at some of this,
• 19:16
  Speaker 2: but I'm going to dig into it a little bit deeper.
• 19:18
  Speaker 2: So there are companies out there like LifeLock, and Malia
• 19:22
  Speaker 2: mentioned credit Karma and different services, but there's some there's
• 19:25
  Speaker 2: some great resources available and we would we would point
• 19:29
  Speaker 2: you to a couple that are that are free tools
• 19:32
  Speaker 2: for now. One would be Annual Credit Report dot Com
• 19:35
  Speaker 2: offers free yearly credit reports, and then credit Karma dot
• 19:39
  Speaker 2: Com provides daily monitoring and actually credit report services I
• 19:44
  Speaker 2: think the only difference there is I think credit Karma's
• 19:46
  Speaker 2: is not technically your credit score. It's more of a
• 19:49
  Speaker 2: credit it's a credit like estimate. But you know, I'll
• 19:53
  Speaker 2: hold up my hand. I use credit karma dot com.
• 19:56
  Speaker 2: They will actually send me an email if my social
• 19:58
  Speaker 2: Security number or data birth are ever used to open
• 20:01
  Speaker 2: up credit anywhere. And I've tested this by the way.
• 20:04
  Speaker 2: I've opened up a new credit card and literally immediately
• 20:08
  Speaker 2: while the credit card was being opened up, I got
• 20:10
  Speaker 2: an email and a notice from Credit Card I saying,
• 20:12
  Speaker 2: you know, alert Alert. So there's some really cool tools there.
• 20:16
  Speaker 2: But Malia just mentioned previously, we would be a big
• 20:18
  Speaker 2: fan of actually freezing your credit. If you don't need
• 20:21
  Speaker 2: your credit open, just shut her down, right Dan, you go,
• 20:26
  Speaker 2: you know what, but it's going to hurt my ability
• 20:28
  Speaker 2: to use my credit card. No, no, no no no.
• 20:29
  Speaker 2: Anything that's currently open you can continue to use. But
• 20:32
  Speaker 2: if you just want to freeze your credit, then nobody
• 20:35
  Speaker 2: can use your data birth and social Security number to
• 20:36
  Speaker 2: open anything up, which is a great option that exists
• 20:39
  Speaker 2: out there, but kind of changing changing focuses here. We
• 20:44
  Speaker 2: would also really suggest that you'd be alert to phishing
• 20:48
  Speaker 2: and spoofing in your emails. My goodness, gracious, I personally
• 20:54
  Speaker 2: am just flabbergasted by how much of an increase there
• 20:57
  Speaker 2: has been in this regard in the line. I'll call
• 21:00
  Speaker 2: it two years.
• 21:02
  Speaker 3: So.
• 21:02
  Speaker 2: Phishing is a type of online scam where a cyber
• 21:06
  Speaker 2: criminal sends a fraudulent communication that appears to come from
• 21:10
  Speaker 2: a legitimate source. The goal of phishing is to trick
• 21:13
  Speaker 2: the victim into providing sensitive information such as passwords, bank
• 21:16
  Speaker 2: account number, or credit card details. Here would be an example. Hey,
• 21:21
  Speaker 2: you your Microsoft Office three sixty five log in isn't working.
• 21:29
  Speaker 2: Just click here and reconnect your online Office three sixty five. Right,
• 21:34
  Speaker 2: And it's got kind of like a Microsoft logo on
• 21:36
  Speaker 2: it and comes in an email, and you just go, oh, oh, okay,
• 21:39
  Speaker 2: well I have at Microsoft Office three sixty five. Just
• 21:41
  Speaker 2: click and I'll just re enter my username and password.
• 21:46
  Speaker 2: The problem is you're not going to the right site.
• 21:49
  Speaker 2: That's a phishing scam. Often you're not going to the
• 21:52
  Speaker 2: right website. You're clicking on the hyperlink that takes you
• 21:55
  Speaker 2: to a spoofing site that you then enter use and
• 21:58
  Speaker 2: name and password. They've now got access to your Office
• 22:01
  Speaker 2: three sixty five license so phishing attacks can be carried
• 22:05
  Speaker 2: out through email or text messages. The attacker may pretend
• 22:09
  Speaker 2: to be from a very well known company such as
• 22:11
  Speaker 2: a bank, internet service provider, or mortgage company. The message
• 22:15
  Speaker 2: may create a sense of urgency, such as like threatening
• 22:18
  Speaker 2: account suspension or job loss or money loss. And the
• 22:22
  Speaker 2: attacker may also include a link to a malicious website
• 22:25
  Speaker 2: that contains malware. So I'll again using me as a
• 22:29
  Speaker 2: simple example of this, I probably get two of these
• 22:33
  Speaker 2: a week, no joke between text and email. I get
• 22:36
  Speaker 2: two of these a week, and often it contains the urgency.
• 22:40
  Speaker 2: I get voicemails with literally human beings who are leaving
• 22:44
  Speaker 2: voicemails saying we've been trying to get a hold of you,
• 22:48
  Speaker 2: and since we're not getting a hold of you, we
• 22:50
  Speaker 2: are shutting down your bank accounts. Now you need to
• 22:52
  Speaker 2: call us back like it's crazy, y'all. So you just
• 22:56
  Speaker 2: really need to be careful. And then spoofing is a
• 22:59
  Speaker 2: cyber crime. I'm where a person or entity impersonates a
• 23:02
  Speaker 2: legitimate source to gain access to a personal information, money,
• 23:06
  Speaker 2: or data. So spoofing can take many forms, such as
• 23:10
  Speaker 2: let's say that you just throw away a letter in
• 23:13
  Speaker 2: your trash from your bank, right, it's just a statement.
• 23:17
  Speaker 2: You throw it away. And somebody sees that CJ. Closs
• 23:21
  Speaker 2: has a bank account at I don't know. I'm going
• 23:23
  Speaker 2: to use a you know, a gimmicky one XYZ bank.
• 23:28
  Speaker 2: Well they can just send me an email saying I
• 23:30
  Speaker 2: am the manager from x y Z bank and you've
• 23:32
  Speaker 2: lost you're using him and password needs to be reset.
• 23:35
  Speaker 2: Click here and enter. You're just re enter. You're using
• 23:38
  Speaker 2: hime and password for XYZ bank. Do you realize how
• 23:41
  Speaker 2: easy that is? So anyway, I need to call myself down.
• 23:46
  Speaker 2: You can sense my urgency here. It is really stuff
• 23:49
  Speaker 2: that you need to be careful about.
• 23:50
  Speaker 1: Talk this morning with CJ. Closs and Moleia Quavis. They
• 23:52
  Speaker 1: are our retirement planning professionals from Class Financial. Really important information.
• 23:57
  Speaker 1: Obviously you can hear the passion when CJ talks about
• 23:59
  Speaker 1: this stuff, and as well you'll learn more about Class
• 24:02
  Speaker 1: Financial their website coss Financial dot com. That's k l
• 24:05
  Speaker 1: a as Financial dot com and they're telephe number six
• 24:07
  Speaker 1: so eight four four two five six three seven And
• 24:10
  Speaker 1: email spoofing isn't the only type of spoofing out there
• 24:13
  Speaker 1: is their.
• 24:14
  Speaker 2: CJ that's right, Sean, So I mentioned, you know, spoofing.
• 24:17
  Speaker 2: There there's email spoofing, which which we have had crazy
• 24:22
  Speaker 2: enough inside of our own organization. Spoofing of our CEO
• 24:27
  Speaker 2: sent to all of our by the way, our CEO
• 24:30
  Speaker 2: is Malia, right, So a spoofing of Malia sent to
• 24:33
  Speaker 2: our employees saying payroll needs information from you. I mean
• 24:37
  Speaker 2: it's crazy, right. Caller ID spoofing, so this is a
• 24:42
  Speaker 2: scammer changes their phone number and caller ID name to
• 24:45
  Speaker 2: appear as if they're calling from a local number or
• 24:48
  Speaker 2: a trusted company or a government agency. And then text
• 24:52
  Speaker 2: message spoofing, which is also known as smishing. This is
• 24:55
  Speaker 2: when a text message appears to be from a legitimate source.
• 24:58
  Speaker 2: So you get the idea, everybody, man, these are getting creative.
• 25:02
  Speaker 2: We would just say to you, you're gonna have to
• 25:05
  Speaker 2: risk not responding to a legitimate source by you know,
• 25:12
  Speaker 2: in terms of protecting your own credit in your own situation.
• 25:15
  Speaker 2: So we would we would prefer that a family member
• 25:17
  Speaker 2: ends up calling you going why did you not respond
• 25:19
  Speaker 2: to my text message? Then to end up in a
• 25:22
  Speaker 2: situation where you have months and months and months of
• 25:24
  Speaker 2: having to recover your credit.
• 25:26
  Speaker 1: I know, it's a serious thing. But for some reason,
• 25:27
  Speaker 1: the words smishing always for some reason. But this stuff
• 25:32
  Speaker 1: is very very serious, it's very very important. As we
• 25:35
  Speaker 1: talk about some of the warnings, I've known computer experts
• 25:38
  Speaker 1: who have gotten gotten unfortunately had had their their accounts compromise.
• 25:43
  Speaker 1: Because this stuff is very convincing, as Ce Jmilie are
• 25:46
  Speaker 1: talking this morning. Definitely, be very very careful, very very cautious.
• 25:49
  Speaker 1: If you missed any part of today's show where you
• 25:51
  Speaker 1: want to share today's program with family members, please do that.
• 25:54
  Speaker 1: Head on over to Classfinancial dot com. That's closs k
• 25:57
  Speaker 1: l a A S Financial dot com. You can listen
• 26:00
  Speaker 1: and subscribe to the podcast right there online telephone number
• 26:02
  Speaker 1: six oh eight four four two five six three seven.
• 26:05
  Speaker 1: Don't forget no charge for that initial gets know you
• 26:07
  Speaker 1: appointment tech co Loss Financial. It will be complimentary to
• 26:09
  Speaker 1: you again their numbers six oh eight four four two
• 26:12
  Speaker 1: five six three seven. Talking about some of the modern
• 26:15
  Speaker 1: takes on h on trying to take advantage of folks
• 26:18
  Speaker 1: when it comes to their credit, also some old fashioned ways.
• 26:20
  Speaker 1: We'll get some details on that. We'll do the class
• 26:22
  Speaker 1: quiz question ly week next. As Money in Motion continues
• 26:25
  Speaker 1: right here on thirteen ten WIBI. This says money in
• 26:32
  Speaker 1: motion with COSS Financial as mentioned the website colssfinancial dot com.
• 26:36
  Speaker 1: That's Coss k l Aasfinancial dot com. They're telephon number
• 26:39
  Speaker 1: six O eight four four two five six three seven.
• 26:42
  Speaker 1: It's a great time a year all who doesn't love
• 26:44
  Speaker 1: this time a year? Problem is, you can sometimes be
• 26:47
  Speaker 1: put in a compromising situation when it comes to fraud
• 26:50
  Speaker 1: and your credit and your financial information, very very important stuff.
• 26:54
  Speaker 1: As we talked this morning with CJ and Malia from
• 26:57
  Speaker 1: Class Financial, and we were talking about some of the
• 27:00
  Speaker 1: more high tech stuff things like emails and spoofing caller ID,
• 27:04
  Speaker 1: there are some low tech ways as well that folks
• 27:08
  Speaker 1: are being victimized and things like mailbox mailbox fraud. That
• 27:13
  Speaker 1: is something that really goes on. What can folks do,
• 27:16
  Speaker 1: Malia to protect themselves there?
• 27:19
  Speaker 3: Yeah, So I know people feel sometimes safer, kind of
• 27:22
  Speaker 3: old school. I put in a mailbox. I just feel
• 27:25
  Speaker 3: better about that paying my bills that way than doing online.
• 27:28
  Speaker 3: I totally understand that. But quite honestly, criminals target mailboxes
• 27:34
  Speaker 3: to steal sensitive information like checks and credit card offers
• 27:39
  Speaker 3: or bills. So number one, if you get credit card
• 27:43
  Speaker 3: offers in the mail, which I'm pretty sure everyone does.
• 27:46
  Speaker 3: Shred those, don't just throw them back in the trash.
• 27:49
  Speaker 3: Shred those, or as my client the other day said,
• 27:51
  Speaker 3: I just burn everything that comes through the door. It's like, okay, burn.
• 27:56
  Speaker 3: But a few simple steps to help you out with
• 27:58
  Speaker 3: regards to your mailbox. Never, never, never leave mail sitting
• 28:02
  Speaker 3: in your box for too long if you're heading out
• 28:04
  Speaker 3: of town, put a hold on your mail through USPS, USPS,
• 28:09
  Speaker 3: or ask a trusted neighbor to pick it up for you. Second,
• 28:13
  Speaker 3: consider switching to a locking mailbox for extra protection, or
• 28:16
  Speaker 3: even use a PO box for important mail. So, as
• 28:20
  Speaker 3: I said, shred sensitive documents. And then finally consider we're
• 28:24
  Speaker 3: a big proponent of this. Finally, consider receiving all your
• 28:28
  Speaker 3: financial statements online versus in the mail. This really really
• 28:34
  Speaker 3: has cut down I believe a lot of that mailbox
• 28:36
  Speaker 3: fraud by people who have switched to an electronic intake
• 28:40
  Speaker 3: of their sensitive financial information. A couple more things I
• 28:45
  Speaker 3: want to add here too, for you, is back to
• 28:50
  Speaker 3: talking about checking on your credit card statements. You really
• 28:54
  Speaker 3: need to be doing this quite frequently, at least monthly,
• 28:59
  Speaker 3: because I know what happens sometimes again during the holidays,
• 29:02
  Speaker 3: is we kind of kind of glanced, but we don't
• 29:04
  Speaker 3: really pay attention. And there is a time limit for
• 29:07
  Speaker 3: you to be able to argue charges that are on
• 29:09
  Speaker 3: credit cards. So if you see a charge you do
• 29:12
  Speaker 3: not recognize, it's best to notify your credit card company
• 29:16
  Speaker 3: within that first thirty days. And then finally, you know,
• 29:20
  Speaker 3: we're talking about this phishing FYI that spelled pH not
• 29:24
  Speaker 3: FI for all of you fishermen out there. Phishing is
• 29:27
  Speaker 3: with a pH. But you want to be careful about
• 29:31
  Speaker 3: anything you click on. If you get a text and
• 29:34
  Speaker 3: you click on. I just had a client unfortunately do this.
• 29:37
  Speaker 3: They clicked on a text. It gave them a phone number,
• 29:40
  Speaker 3: as supposedly was from Apple. They called the phone number,
• 29:43
  Speaker 3: and they had just gotten a new computer. They called
• 29:46
  Speaker 3: the phone number. They unfortunately gave out personal identifiable information
• 29:52
  Speaker 3: and the fraudster and this happened two weeks ago. The
• 29:55
  Speaker 3: fraudster took out twenty thousand dollars direct from their bank account.
• 30:00
  Speaker 3: And so of course the person feels horrible that they
• 30:03
  Speaker 3: gave all this information out. But I'll tell you age.
• 30:07
  Speaker 3: You know, it doesn't matter what age you are. A
• 30:09
  Speaker 3: simple click a simple phone call to what you believe
• 30:12
  Speaker 3: is a legitimate source that was not recoverable money, and
• 30:16
  Speaker 3: it was it was the client's fault. But I'm just
• 30:18
  Speaker 3: telling you that's why CJ and I are like, please
• 30:21
  Speaker 3: please control what you have because someone out there is
• 30:25
  Speaker 3: trying to, you know, take it from you.
• 30:26
  Speaker 1: Be very very careful. Really great information this week, as
• 30:29
  Speaker 1: always from our retirement planning professionals from Class Financial, CJ.
• 30:33
  Speaker 1: Closs and Malia Quavis. You can learn more about Class
• 30:35
  Speaker 1: Financial their website Cossfinancial dot com. That's Coss k l
• 30:39
  Speaker 1: a A s Financial dot com. Telephone number six soh
• 30:42
  Speaker 1: eight four four two five six three seven. No charge
• 30:45
  Speaker 1: for that initial get to know your appoyment tech COSS Financial.
• 30:48
  Speaker 1: It will be complimentary to you again their number six
• 30:50
  Speaker 1: oh eight four four two five sixty three seven. You're
• 30:53
  Speaker 1: also going to hold on to that telephone number because
• 30:54
  Speaker 1: it's time now for the Class Quiz Question the Week.
• 30:56
  Speaker 1: It works like this and just a moment, I'll ask
• 30:58
  Speaker 1: you the class Quiz question the Week with then if
• 30:59
  Speaker 1: third minutes from the today's program, to call the Class
• 31:02
  Speaker 1: Financial office right here in Madison at six oh eight
• 31:04
  Speaker 1: four four two five six three seven first Gart correct
• 31:08
  Speaker 1: answer when this week's prize for say twenty five dollars
• 31:10
  Speaker 1: gift card to best Buy. This week's class quiz question
• 31:13
  Speaker 1: the week is this It's true or false? True or false.
• 31:15
  Speaker 1: Putting a credit freeze on your account prevents identity thieves
• 31:19
  Speaker 1: from opening accounts in your name. Telephone number six oh
• 31:22
  Speaker 1: eight four four two five six three seven first Gart
• 31:25
  Speaker 1: correct answer when the twenty five dollars gift card to
• 31:27
  Speaker 1: best Buy. And again that's Class Financial's office right here
• 31:30
  Speaker 1: in Madison. No charge that Ania gets to know you
• 31:32
  Speaker 1: apployment at Colss Financial. It will be complimentary to you
• 31:35
  Speaker 1: again their number six oh eight four four two five
• 31:38
  Speaker 1: six three seven C J. Malia. It's always great chatting
• 31:41
  Speaker 1: with you guys. Have a fantastic couple of weeks. Of course,
• 31:43
  Speaker 1: next week is Thanksgiving you guys. Enjoy time with your
• 31:46
  Speaker 1: family and look forward to doing it all again real soon.
• 31:48
  Speaker 2: Thanks Er Sewan.
• 31:49
  Speaker 1: Seeay guys. Doctor Marty Greer comes your way next here
• 31:52
  Speaker 1: at thirteen ten WIBA