06.01.26 WARNINGS: AI Privacy Risk & Ponzi Schemes Net Millions

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 1 June 2026

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today - A warning about how much information you give an AI chatbot. Artificial intelligence tools like ChatGPT, Claude, and Gemini have made getting financial advice faster and easier than ever. But as the AI gold rush heats up, a massive privacy risk is emerging. Clark breaks down the critical things you should never tell an AI chatbot. Also - The anatomy of a Ponzi scheme that RIPPED OFF $140 million from “investors.” Clark covers two massive fraud cases—Drive Planning and First Liberty—which collectively defrauded thousands of investors out of hundreds of millions of dollars. When inflation or economic uncertainty makes us feel insecure about our money, we become susceptible to smooth pitches. Clark reminds us of the ultimate golden rule of investing: any time someone promises you "guaranteed" double-digit returns with zero risk, it is a lie. Learn how these schemes operate so you can spot the red flags, protect your hard-earned savings, and secure your financial future. Plus, Lane (Clark’s wife!) shares your #AskClark questions and Clark gives his take. All this and more on the June 1, 2026, episode of The Clark Howard Show. Submit questions: Ask Clark AI Privacy Risk: Segment 1 Ask Clark: Segment 2 Ponzi Schemes Steal Millions: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Don’t tell your AI chatbot these 5 things to keep your money safe Where Should You Keep Your Cash Reserve? - Clark Howard 6 Things To Know About Series I Savings Bonds - Clark Howard How To Open a Roth IRA Anatomy of a Ponzi scheme How to Teach Young Kids About Money - Clark Howard How I Set My Teens Up for Retirement in 5 Minutes What Brokerage Do You Recommend for First-Time Investors or Kids? How To Freeze and Unfreeze Your Credit With Experian, Equifax and TransUnion Clark.com resources: Episode transcripts Community.Clark.com / Ask Clark Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Changes in sexual performance are more common than most people realize, and support doesn't need to feel awkward.
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0:09.1	Start by completing a short consultation reviewed by UK registered clinicians.
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0:18.7	You're not alone in this. Visit medexpress.com.
0:21.8	com.uk slash podcast to learn more.
0:28.9	I'm so glad you've taken time out of your day to join us on the Clark Howard Show.
0:34.4	Our mission is to serve you with advice and information that empowers you to make better
0:40.5	financial decisions in your life. In today's episode, I want to talk to you about creating a personal
0:48.8	relationship with your AI chat bot. I mean, I saw stats recently, what percent of people are using AI chatbots?
0:58.3	And it's gone from one in 10 a year ago to well more than half of people now.
1:04.7	Got to know your privacy is partially on the line. And later, I want to talk about just two under the radar Ponzi schemes that didn't get a lot of media
1:18.6	coverage outside of the financial press, that these two little operations stole more than
1:25.6	half a billion dollars from consumers, investors, whatever,
1:31.3	and not that much time.
1:32.9	Money that is gone in boats, jewelry, private jet travel, you name it, the con artist
1:41.5	ran off with that much money and how easy it was for them to do it.
1:48.0	A lesson in there for all of us.
1:51.5	So the AI chatbot space is so hot.
1:55.8	I was reading in Barron's magazine about this guy who came up with a new chatbot idea,
2:04.8	new AI company. And it doesn't really even do anything yet. And it has a supposed pre-market
2:13.6	value of, you ready, a billion dollars. There's so many people who are in this
	...

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