Original Post: 3/18/24; Updated Post: 8/28/24
Fraudsters continually refine their tactics, making it imperative to stay ahead with proactive measures. We hosted national expert Kathy Stokes, the AARP National Director of Fraud Prevention, on the Modern Husbands Podcast to discuss safeguards you can put in place for your family.
Here are five straightforward and practical tips to bolster your family's defenses against fraud and access to the podcast episode with Kathy Stokes.
Educate Your Family About Phishing Scams
Fraud often begins with phishing attempts, where scammers trick victims into providing sensitive information. Educate all family members about the hallmarks of phishing:
unexpected requests for money or information,
pressure to act quickly,
suspicious links or attachments in emails, messages, or social media.
Empower everyone to question the legitimacy of unsolicited communications and to verify contact through known channels before responding.
Use Multi-Factor Authentication (MFA)
Enabling multi-factor authentication (MFA) wherever possible enhances the security of your online accounts. MFA adds a layer of protection by requiring two or more verification methods to access an account, such as something you know (password), something you have (phone to receive a verification code), or something you are (biometric data).
Monitor Your Financial Accounts Regularly
Regular monitoring of your bank and credit accounts can help you catch fraudulent activity early. Encourage family members to set up alerts for unusual activity, such as high-value transactions or transactions from unfamiliar locations.
Many financial institutions offer tools that send real-time alerts via text or email, allowing you to respond swiftly to suspicious activity.
Secure Personal Information
Secure all sensitive information, both online and offline. Shred documents that contain personal information before disposal, use strong and unique passwords for online accounts, and keep personal documents in a secure location.
Discuss the importance of privacy settings on social media with your family, particularly with children and teenagers, to ensure they do not inadvertently share sensitive personal information.
Stay Informed About the Latest Scams
Scammers constantly evolve their techniques, so staying informed about the latest fraud trends is essential.
Subscribe to alerts from reliable sources like the Federal Trade Commission (FTC) or your local consumer protection agency.
Sharing updates during family meetings can help everyone stay aware and prepared.
Modern Husbands Podcast Episode: Fraud Protection
In this episode, we discuss modern fraud prevention strategies that are practical and can help keep your family safe.
Questions Addressed
0:00:00 Introduction
0:01:30 How can husbands and fathers effectively communicate with their families about the risks of consumer fraud without causing unnecessary fear?
0:07:13 What are the common tactics fraudsters use that families should be aware of to protect themselves?
0:19:07 Are there specific financial security measures that folks should prioritize to safeguard their families from potential fraud?
0:22:45 How can families navigate the balance between convenience and security in their online financial transactions and interactions?
0:28:47 What resources or tools do you recommend for those who want to stay proactive in protecting their own parents who are likely elderly from the ever-evolving landscape of consumer fraud?
0:32:18 What is one piece of simple and actionable advice you want our listeners to walk away knowing from today’s episode?
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Pig Slaughtering (Financial Grooming)
Mentioned in the episode was a recent episode of the Last Week Tonight with John Oliver (HBO), Pig Butchering Scams. John Oliver discusses a popular internet scam and why it’s easier to fall for it than you might think.
It was terrifying to see how advanced the global scam industry has become.
Podcast Episode Resources
AARP Fraud Watch Network
AARP Fraud Watch NetworkTM is a free resource for all. With AARP as your partner, you’ll learn how to proactively spot scams, get guidance from our fraud specialists if you’ve been targeted, and feel more secure knowing that we advocate at the federal, state, and local levels to protect consumers and enforce the law.
Click here to learn more.
AARP Fraud helpline
AARP Fraud helpline: 877-908-3360
AARP: Get Tips to Avoid Scams & Fraud
Get tips to spot and avoid scams like identity theft, investment fraud and holiday scams, as well as ongoing updates from resources like Watchdog Alerts and a scam-tracking map that provides real-time alerts from law enforcement in your state.
Click here to learn more.
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