Swindled or Safe? Improve Your Scam Awareness and Protect Your Finances

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 18 December 2024

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Learn how financial scammers exploit emotions and how you can protect your finances from their latest tactics. How can you protect your money from online scams? What steps can you take to safeguard yourself from financial deception? Hosts Sean Pyles and Anna Helhoski delve into the harrowing tale of Judith, a 79-year-old who fell victim to a sophisticated scam that led to the loss of nearly $600,000. Joined by Michelle Singletary, a personal finance columnist for the Washington Post, they unravel the tactics scammers use to prey on emotions and trust, emphasizing the importance of awareness and empathy in scam prevention. Then, Sean and Anna break down recent financial headlines, including updates on the Federal Reserve's interest rate decisions, the Consumer Financial Protection Bureau's new rule on overdraft fees, and the halted merger between Albertsons and Kroger. We're off next week, but you can follow our latest coverage on NerdWallet's financial news hub: https://www.nerdwallet.com/h/news/financial-news In their conversation, the Nerds discuss: scam prevention, online scams, phone scams, scam awareness, financial fraud, scammer tactics, protecting your savings, scam victims, scammer manipulation, scam warning signs, elderly scam victims, scam support, scam protection tips, FBI impersonation scam, financial security, bank manager intervention, scam victim recovery, fraud prevention, scam prevention strategies, protecting retirement savings, scam red flags, scam recovery, scam education, online fraud, scam prevention awareness, and scam victim advocacy. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Ready to launch your business? Get started with the commerce platform made for entrepreneurs.
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0:17.4	From startups to scaleups, online, in person, and on the go.
0:22.0	Shopify is made for entrepreneurs like you.
0:24.4	Sign up for your $1 a month trial at Shopify.com slash setup.
0:36.1	Welcome to NerdWallet's Smart Money Podcasts.
0:38.6	I'm Sean Piles.
0:39.9	And I'm on a hell Hoski.
0:41.6	And this is our weekly Money News Roundup, where we break down the latest in the world of finance
0:46.0	to help you be smarter with your money.
0:48.0	We'll go deep into a single topic, then leave you with the latest money headlines.
0:52.5	Today we're talking about how to protect yourself
0:54.6	and your money from the vicious world of online scams.
0:57.7	Only they're not just online anymore, they're on your phone. And if you think it can't happen
1:02.5	to you because you're either too smart or too informed or too lucky, you're wrong. As has been
1:08.7	proven time and time again when completely normal people have their life savings stripped away before they realize what they're wrong. As has been proven time and time again when completely normal people have their
1:12.3	life savings stripped away before they realize what's happening. Today we're going to hear about
1:17.1	one specific story that we read about in the Washington Post, a seven-part series about these
1:21.9	types of fraud that is just a jaw-dropping read. It's called Scammed, and you should find it and absorb its implications.
1:29.6	We're joined by the author Michelle Singletary, a personal finance columnist for the Washington Post.
1:34.9	Michelle, thanks for joining us. Oh, thank you for having me. We're talking about a seven-part series,
	...

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