Kristy Desimone joins Lynne Jarman-Johnson to wrap up the year and discuss fraud. They review fraud tips from the past year and share information on how scammers may target people during the holiday time.

 

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0:00:07.3 Lynne Jarman-Johnson: Money, I’m Home! Don’t you get caught in a fraud or a scam. We are wrapping up an unbelievable year in education on fraud, and Kristy Desimone is our fraud specialist here at Consumers Credit Union. I cannot tell you, number one, you are the number one listened to podcast topic. Always Kristy, it’s always such great information that you bring. So, as we wrap up the year, I just want to say thank you at the beginning.

0:00:37.1 Kristy Desimone: Of course [laughter]

0:00:38.3 LJJ: I know, our members thank you, our teams thank you, to get all of that detailed information. Now before we start, this has been just a year where it’s eye-opening. Every single day there seems to be something new that is happening in fraud, and especially in the financial world. What is going on?

0:01:00.2 KD: Yeah, I think really it all boils down to … It starts with an email, it starts with a text, we click on a link, we then get a phone call or make a phone call from the number in the email or the text, and then it just snowballs from there. So really at the end of the day, we need to be cautious about emails and texts.

0:01:16.5 LJJ: And we really have to know what those red flags are. You are always learning, and you learn about those new red flags. Tell us a little bit about a conference that you attended online this week, just to say, wow!

0:01:32.7 KD: Yeah, of course. So, I was honored to be able to watch a panel about 2024 fraud trends, and there was a mention that Google has done a stat where they stop 260 billion emails that are fraud, phishing emails, that go out every two weeks. They stop that much.

0:01:49.4 LJJ: All right, stop a second. Say that number again.

0:01:53.1 KD: 260 billion with a B.

0:01:57.0 LJJ: Every two weeks?

0:01:57.1 KD: Every two weeks.

0:01:58.3 LJJ: So, this is incredible what is being attempted every single day.

0:02:02.8 KD: I know, so some still go out obviously, but it is a very big deal that there’s so much. So, we have to really use caution.

0:02:10.3 LJJ: Well, and especially around the holidays, it’s that time of year where you want to get that perfect gift, and all of a sudden somebody dangles a little carrot of money out to you or gift cards.

0:02:21.9 KD: 100%, and if it’s too good to be true, it is. And we also have to be careful with people spoofing Consumers Credit Union number. It happens often, and just be aware that we don’t ask you for any of that personal information. If we call you and … Hang up and call a number that you know is ours.

0:02:40.2 LJJ: I have been in awe. I was kind of giggling because about two weeks ago, I had a note from our former CEO, and I’m thinking, “Why is my former CEO texting me about needing help at a conference he’s at?” He’s not at a conference. [chuckle] He’s retired and enjoying life. But how many people could possibly go, “Oh, I want to help?”

0:03:02.4 KD: 100%, and I even got that same email, and I was like, “This cannot be real.”

0:03:09.1 LJJ: Did you too? [laughter]

0:03:09.5 KD: Yes.

0:03:10.6 LJJ: That’s crazy.

0:03:10.7 KD: It goes out, and people will attempt it. So, it’s important to make sure that if someone is sending you an email you didn’t expect, to reach out to that individual and make sure that it’s legitimate before you click or download anything in the email.

0:03:22.0 LJJ: And one of the things that we always say is call us. Make sure that you call us. Don’t call a number that someone gives you and says it’s ours. Literally pick up the phone, look at the back of your card, and call us so we can confirm what’s going on with your account.

0:03:37.3 KD: And if you feel like you’ve been talking to someone who isn’t from Consumers Credit Union, stop in. We have offices. We are there for you. Come talk to us. Let us know what’s going on so that we can help you figure it out.

0:03:48.5 LJJ: You know that our highest-rated and listened-to podcast is the podcast where I literally was almost scammed, and this is after how many months that you and I have sat together to talk about how important this is? And what ended up getting me to stop, and then I decided to record the audio, was you had said, “Lynn, whatever you do, ask for their manager.” And then all of a sudden if there’s a pause, that probably means that this is going to be a fraud case. And sure enough, when I asked for the manager, they did get somebody else on, and they transferred and acted legal. But by this time I had written all these things down. I was going to go, “Kristy! Kristy!”

[laughter]

0:04:31.8 KD: 100%. And what happens is it snowballs. You think you’re talking to PayPal about a transfer that you didn’t do, and then they have to send you to another person.

0:04:41.1 LJJ: It’s exactly right.

0:04:41.2 KD: And they get you there, because you’re already emotionally invested, because you’re like, “I didn’t do this transfer.” And then they get you with something completely different.

0:04:48.0 LJJ: And literally everything that they send you looks like the original and authentic. I even had it where, and that’s what started this, was it was PayPal. And there was an invoice in my PayPal account. And I’m going, “Why do I have an invoice asking me for money?”

0:05:05.6 KD: Yeah.

0:05:05.7 LJJ: And so, I called the number, like I’m told not to do.

[laughter]

0:05:12.9 KD: Exactly. They’re so good at impersonating different companies and websites and things like that. You have to really use caution. If it’s something you’re not expecting, call a number you know and have called before, or stop in somewhere and ask.

0:05:25.5 LJJ: Is there an uptick during the holidays, Kristy?

0:05:28.0 KD: 100%. Yeah. Everybody is trying to afford gifts for their family and things like that. So, it’s really important to use caution, especially around the holidays. You don’t want to lose money that you have saved up for to buy gifts for your family.

0:05:39.4 LJJ: So, you listened to this 2024 panel, got to watch it. How exciting. Has AI become, artificial intelligence, become something that is being talked about deeper?

0:05:51.4 KD: Not yet. So, it’s really focused on how quickly money can move in and out of accounts with different type of transfer services, things like that. So, it really hasn’t become the forefront of fraud yet. Could it? Potentially. But right now we’ve got to focus on being able to spot what we have now going on.

0:06:10.1 LJJ: And when I say AI, the thing that … I read this article because I was so interested in the fact that now Meta, which is Facebook, has paid celebrities to have AI characters. I probably am getting that wrong. They’re called something. I know they are, but …

0:06:27.5 KD: I think avatars.

0:06:27.6 LJJ: Avatars. And they have paid them so that the avatars can answer your questions like Tom Brady is doing something and he’ll talk about sports.

0:06:34.4 KD: Yeah.

0:06:35.3 LJJ: That kind of makes me really nervous.

0:06:39.2 KD: It does.

0:06:39.3 LJJ: Because then how are you going to know, a lot of famous individuals, whether they are entertainers or sports or politicians, they will back causes and ask you to help with this cause. Well, how are you going to know if it’s a real person or not?

0:06:55.3 KD: Right. I think at times you have to make sure that you’re doing your research. You’re finding other individuals who have donated to something, or it makes sense. A lot of times with celebrities, people will say, “Oh, well, they don’t have a bank account. Their bank account is locked. That’s what they told me.” And that doesn’t make sense if you sit and think about it for a second. So we want to make sure you’re just doing your research. Does it make sense? Is this something other people are experiencing? And a lot of times they tell you just don’t answer the phone if you don’t know the number because people can record your voice and try and use it. So we want to just make sure. Don’t answer the phone, if it’s important they’ll leave a voicemail. And then you can check it out and see.

0:07:32.2 LJJ: What are the top three things as we head into 2024 that we need to do to continue to be aware and be cautious?

0:07:38.8 KD: Yeah. So, we want to make sure we’re not purchasing gift cards for people we don’t know. We want to make sure we’re not doing large withdrawals to put into Bitcoin ATMs and that we’re making sure we’re doing our research.

0:07:49.3 LJJ: I will tell you my favorite that you’ve told me, and it has helped at least six times in my case, which kind of scares you, doesn’t it? That that’s how many times you could try to get attempted scams. But we heard the number.

0:08:00.5 KD: Exactly.

0:08:00.8 LJJ: Billions.

0:08:00.9 KD: Yeah.

0:08:03.1 LJJ: So, the first is that always check the email, that the email can look like it’s coming from a place. But all of a sudden there’s something that is maybe one letter off.

0:08:11.1 KD: Yeah.

0:08:11.3 LJJ: But it looks very similar. So, your eyes just automatically see it correctly. So really look at the email. And the second is do not be embarrassed if you fall for a scam. Do not be embarrassed. Come in. Call.

0:08:27.1 KD: Right. And I’ve always told you it’s not a matter of if, it’s a matter of when you’re going to fall for something. They attempt it so many times. At some point it’s going to happen. So just let us know. Talk to us. Come sit with us. Drink some coffee at our offices and just really tell us what’s going on.

0:08:41.6 LJJ: Well, I’ll tell you, thank you so much for everything this year. It’s been great. And we are really looking forward to 2024. There’s going to be a lot more deeper conversations about fraud and making sure that we keep all of you safe. When it is a new year, it’s time for new thinking. So, we are so excited that you’ve created a star in Kristy.

[laughter]

0:09:02.9 LJJ: We absolutely love it. Thank you. Thank you for that.

0:09:05.1 KD: Yes. Stay safe for the holidays and save your money. Protect it.

[laughter]

0:09:08.8 LJJ: Stay safe. Save your money and protect it. Hey, Jake Esselink is our producer and he’s done such a fabulous job all of this, whole entire year. And we’re really looking forward to 2024. We’re going to dig deep into financial education for you in 2024 and really talk to some experts that are going to help us shape where we are in our lives. What’s the ages and stages that we’re in? Fraud, of course, will be a number-one category again. And so, we look forward to having some fun with that. You know you shouldn’t say fun with fraud, but as long as you’re staying away from it, I guess it’s good.

0:09:41.6 KD: Right.

[laughter]

0:09:45.0 LJJ: Hey, everybody, have a wonderful, safe new year. Keep your money safe. And listen, it is time for you to say, “Money, I’m Home” with me a few times as we head into the new year.