Jul 09 2024 26 mins
Americans lost $13BN to fraud in 2023. Young adults are particularly vulnerable – along with the elderly – as social engineering becomes increasingly sophisticated. Don’t think it can’t happen to you.
Today on Red Carpet Retirement, Adam Scott, CFP® delves into the concerning rise of financial fraud and offers practical tools to help safeguard against these threats. Joined by a young man, George Baker, who shares his personal experience of being scammed at the tender age of 18, this episode aims to educate listeners about the increasing sophistication of scams and the critical steps to avoid becoming a victim. By tuning in, you’ll learn essential prevention strategies to protect your family and hear firsthand accounts that underline the importance of vigilance and prompt action.
Adam and George discuss:
- How to identify and understand phishing scams and their evolution into targeted spear phishing
- The psychological tricks scammers use, such as urgency and emotional manipulation
- Steps to take immediately if you think you’ve been scammed, including involving third parties
- Real-life stories highlighting both the complexities and preventable measures in financial fraud scenarios
- And more
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