31 min
Scammers Beware! Fraud Protection and Prevention Strategies with Judah Montano Financial Tea in the Morning
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- Superación personal
There’s nothing better than settling in with a bowl of popcorn and a scandalous tale of deceit. When viewed from a safe distance, it's difficult to imagine ever falling prey to those outrageous financial scams. But what happens when the drama hits close to home? Hosts Andrea Klunder and Josh Stringer learn that shame-free discussions coupled with innovative safety measures can prevent real-life swindlers from taking advantage of you and the ones you love––with Judah Montano, Fraud Prevention Manager, Del Norte Credit Union.
Money is an emotional matter, so it makes sense that scammers exploit feelings of loneliness, boredom, inadequacy, or worry to gain financial access. “These people spend a lot of time really building a strong social connection with victims,” says Judah, explaining that the attention is often intoxicating, alarming, or both.
The speed at which scammers convince even the most cautious individual to wire money overseas or turn over sensitive personal details is dizzying. Seniors are particularly susceptible to financial ruin through windfall emails and courtesy call scams. In the former, the “winner” is notified of tax due before they can collect winnings. In the latter, victims are coerced into helping a fraudulent bank representative rectify erroneous activity on their account.
Teens are increasingly at risk via scams conducted over social media. The sugar daddy/sugar mama scheme offers excitement and a lavish lifestyle in return for seemingly innocuous assistance. The FOMO scam also promises a fast track to wealth by tugging at a teen’s fear of missing out on cryptocurrency millions and other get-rich-quick schemes.
Del Norte Credit Union’s brand new online banking system protects members from potentially costly scams and identity theft. Nothing’s failproof, however, so Judah advocates for ongoing financial education and transparent communication. “I've always believed that an ounce of prevention is worth more than a pound of cure.”
Financial Tea Hot Sip: Think you or someone you know is the victim of fraud or identity theft? Take a deep breath––then contact Del Norte Credit Union, or your trusted local credit union. We can provide you with frontline assistance, intervention, and educational tools. Everything's going to be okay.
FEATURED GUEST Judah Montano
Fraud Prevention Manager
Del Norte Credit Union
Learn more and send your feedback and questions at: http://www.financialteainthemorning.com
***
Financial Tea in the Morning is brought to you by Del Norte Credit Union.
Produced and Edited by Andrea Klunder at The Creative Impostor Studios
Technical Director: Edwin R. Ruiz
Recording Engineer: Kabby at Kabby Sound Studios in Santa Fe
Hosted by Josh Stringer & Andrea Klunder
Theme music by Ricardo Lambert
Logo design by Charlie Gonzalez at Axess Multimedia
Disclosures
Del Norte Credit Union is Federally insured by NCUA and is an Equal Housing Opportunity Lender, NMLS ID 500583. Content in this episode is for entertainment purposes only and not financial advice.
There’s nothing better than settling in with a bowl of popcorn and a scandalous tale of deceit. When viewed from a safe distance, it's difficult to imagine ever falling prey to those outrageous financial scams. But what happens when the drama hits close to home? Hosts Andrea Klunder and Josh Stringer learn that shame-free discussions coupled with innovative safety measures can prevent real-life swindlers from taking advantage of you and the ones you love––with Judah Montano, Fraud Prevention Manager, Del Norte Credit Union.
Money is an emotional matter, so it makes sense that scammers exploit feelings of loneliness, boredom, inadequacy, or worry to gain financial access. “These people spend a lot of time really building a strong social connection with victims,” says Judah, explaining that the attention is often intoxicating, alarming, or both.
The speed at which scammers convince even the most cautious individual to wire money overseas or turn over sensitive personal details is dizzying. Seniors are particularly susceptible to financial ruin through windfall emails and courtesy call scams. In the former, the “winner” is notified of tax due before they can collect winnings. In the latter, victims are coerced into helping a fraudulent bank representative rectify erroneous activity on their account.
Teens are increasingly at risk via scams conducted over social media. The sugar daddy/sugar mama scheme offers excitement and a lavish lifestyle in return for seemingly innocuous assistance. The FOMO scam also promises a fast track to wealth by tugging at a teen’s fear of missing out on cryptocurrency millions and other get-rich-quick schemes.
Del Norte Credit Union’s brand new online banking system protects members from potentially costly scams and identity theft. Nothing’s failproof, however, so Judah advocates for ongoing financial education and transparent communication. “I've always believed that an ounce of prevention is worth more than a pound of cure.”
Financial Tea Hot Sip: Think you or someone you know is the victim of fraud or identity theft? Take a deep breath––then contact Del Norte Credit Union, or your trusted local credit union. We can provide you with frontline assistance, intervention, and educational tools. Everything's going to be okay.
FEATURED GUEST Judah Montano
Fraud Prevention Manager
Del Norte Credit Union
Learn more and send your feedback and questions at: http://www.financialteainthemorning.com
***
Financial Tea in the Morning is brought to you by Del Norte Credit Union.
Produced and Edited by Andrea Klunder at The Creative Impostor Studios
Technical Director: Edwin R. Ruiz
Recording Engineer: Kabby at Kabby Sound Studios in Santa Fe
Hosted by Josh Stringer & Andrea Klunder
Theme music by Ricardo Lambert
Logo design by Charlie Gonzalez at Axess Multimedia
Disclosures
Del Norte Credit Union is Federally insured by NCUA and is an Equal Housing Opportunity Lender, NMLS ID 500583. Content in this episode is for entertainment purposes only and not financial advice.
31 min