The BIG Financial Risk That Everyone is Underestimating [Must Watch]

[@JamesShack]

The thought of my grandmother and parents being targeted with AI-assisted attacks like this makes me feel sick. The only defence is to educate and keep vigilant, so please do share this with anyone you think needs to hear it.

[@josephmurray2234]

Thankyou great info

[@am3777]

Actually good security advise from someone who is not a security expert. Hear about this all the time.

[@alessandrasouth7288]

Somebody tried to scam my 83 year old mum with something very similar to what happened in the video you showed, but she is extremely intelligent and worked out it wasn't genuine. I am so proud of her😊

[@marcus.H]

JAMES - It is still visible that your pwned address is shack and it's microsoft's previous old service. I can't post it, but trust me it's still visible. I could be wrong because it's currently showing 29 incidencts on that address, not 19, but either way if this is close to accurate, combining it with the info on havibeenpwned is likely enough to unviel it. Someone bored could try changing a letter or number until it shows the 19 pwns. Security is key. We should block out info. Blurring could lead to unveiling

[@JamesShack]

@@marcus.H I appreciate your help here. That is not the correct email address. Even so, what are the risks of someone knowing my email address, given that it's an old one I don't use?

[@Riggsnic_co]

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

[@kevinmarten]

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@Jamessmith-12]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@JacquelinePerrira]

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@Jamessmith-12]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@JacquelinePerrira]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@SarahJeffy]

Rising prices are impacting my plans to retire at 62, work part-time, and build savings, raising concerns about a more challenging situation than those who weathered the 2008 financial crisis. The stock market's volatility and reduced income are causing anxiety about having enough for retirement.

[@WillFred-g7g]

In a recession, consider investing in stocks cautiously, as it presents opportunities to buy low and sell high. While not financial advice, it's a favorable time to contemplate stock purchases, recognizing that having cash on hand may not always be the best option.

[@Jeffery-f2e]

Absolutely! A skilled coach helped grow my investments from $321k to over $750k, primarily through stocks, ETFs, and bonds. I anticipate housing prices will stay stable until more homes become available.

[@Fred-w7t]

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@Jeffery-f2e]

Jessica Lee Horst maintains an online presence. just make a simple search for her name online.

[@Lucas-t5w4n]

I just googled Jessica and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

[@chazzdposh]

This is the most important video you'll ever make. Thank you.

[@JamesShack]

I think so too. I really needed to make this video because in the near future, it's likely my voice and face will be used in deep fake scams. It will happen to all other content creators, but finance content creators are at the cross-section where the incentives and the risks are the highest. All I can do is keep talking about it and hope people stay vigilant.

[@kenlee9396]

Really important message James - thanks as ever for making such informative content.

[@JamesShack]

@@kenlee9396 You're welcome!

[@ratttttyyy]

Really? Don't reuse passwords is basic internet security. This is a quite an elaborate scam but some basic online security understanding, which everyone under age 75 should really have by now, would have prevented this.

[@newlife8318]

Well keep an eye out for your bot version!

[@jacobprice2579]

In terms of paying for a house, I think we need to bring in a rule that the deposit MUST be paid by cheque or bankers draft and it should be handed over to the solicitor in person at their offices with witnesses and paperwork. It’s a bit of a hassle but this is becoming so pervasive now and it almost happened to me a few years back.

[@markfrancis5164]

I’ve been scammed, online, four figures, never admitted to anyone, the self-shame & depression can be overwhelming. I even have the ‘Give it Five’ anti-scam government leaflet on my fridge but still fell for an urgent opportunity scam. Lesson: After years of accumulation, never act instantly, out of place, moving substantial funds using emotion rather than logic.

[@JamesShack]

Hi Mark, I'm very sorry to hear that but thank you for sharing. These scammers are so persuasive we are all vulnerable.

[@ExplorationB]

I'm so sorry to hear mark. Please don't feel shamed. I used to work in financial risk and anyone regardless of age or education can be targeted by this crime. Take care.

[@daviddunton1502]

Great advice as always. The only thing to add is when phoning someone back to verify their identity, do it from another phone as the scammer can keep the line open, play a dial tone and make it appear you are phoning your bank etc. You then end up speaking to the scammer again.

[@connclissmann6514]

Always phone the payee to double check an IBAN. Always. If you are sending a larger amount, send £1 first and then phone the payee the next day to confirm receipt of the test transfer.

[@joealderson889]

Fantastic advice, and where possible, don't leave things to the last minute whereby you don't have the time to make sure you have the correct details either.

[@marianhunt8899]

Very difficult to get a lot of companies to employ anyone to answer the phone these days. A lot of transactions are automatic and you have no opportunity to speak to anyone.

[@connclissmann6514]

@@marianhunt8899 They are more likely to answer the phone when you are sending them money. 😊

[@macjonesnz]

Don’t send a dollar, send a random amount like $13.72 and then check their number in an old school phone book and phone them. Ask them how much the amount was, that serves as a PIN number so you know they got it. Now, if you did phone the scammer, and you did send the money to them…. Then they will also know the amount. Might be best to visit them in person at their office? Very difficult to be 100%. If it’s a big transaction, probably best to proxy it through a lawyers trust account.

[@natashadickson4819]

Thank you for posting this advice

[@adambritain5774]

I realise i’m going OTT with the comments on this video but i’ve always wanted to say this - your kitchen is absolutely banging.

[@johnporcella2375]

It could be an AI designed background!!

[@m_r__r_o_b_o_t]

It’s a nice kitchen, but I suspect it’s just a background image

[@JamesShack]

@@m_r__r_o_b_o_t To prove it's real, you can see how the light changes from the start to the end of the video. Took me 2 hours to film this and the sun set during that time!

[@m_r__r_o_b_o_t]

@@JamesShack Oh wow! Nice.

[@coderider3022]

Need a cushion for the bench though

[@getreal7964]

The guy is trying to help you so I can only assume negative comments are from scammers themselves. Well done on outing them again James....

[@bobbydwheelhouse]

As a family we’ve set up phrases that we rotate every month so we can try and combat this. If we get a crank call we ask the question to get the counter answer

[@willywest1493]

That's a great idea, thank you

[@marcus.H]

Too difficult to remember. Probably easier to just ask a few questions about the house - such as "where is the toaster in the kitchen and what does it look like?" or "what colour is the shower curtain"? Remember that some of these answers could be common, such as having a white shower curtain, so ask a few varied questions to be sure If you can remember passcodes that's good, but I could never do that. It's easier to ask about things only the relative would know about. Even things like "what car do I drive?" Even information available online like a picture of your car may be difficult to look up in a rush, so it could trip up a scammer. If in doubt, treat it like a potential scam

[@mattthompson8657]

Alright James Bond 😂

[@jam99]

@@fastbackseventyseven3553 It will become normal and a necessity soon. The elderly will always be the most vulnerable.

[@richguest]

@@mattthompson8657 said the guy who’s too smart to get scammed! 🤣

[@olliecook83]

Financial institutions need to seriously improve their operational security, too. People actually from my bank (as in I've called them back on a verified number and continued the conversation) have called me up, and asked me "to confirm some personal details to verify my identity". The _caller_ (i.e. the bank) should be satisfying me that they are who they say they are when they call me! They were very put out when I refused to answer their questions and couldn't understand why I was so suspicious!

[@bigboldbicycle]

I have refused to talk to my creditcard company in the past as they couldn't prove who they were, and the caller (who was actually genuine) accepted this and just asked me to call them back on the number on the back of my card.

[@nitehawk9270]

​@@bigboldbicycleworked in cyber security for a year. Got a message from another bank. Account said to call them. Then I had to research and make sure the number was legit. Very unnerving. They helped me out. Due to invalid attempts. It was fair my PC died and couldn't remember the password.😂

[@MrCHrisfj]

I have had that exact conversation with my own bank. Thankfully it appears that they have woken up and realised that they need to only verify the clients identity when the call is incoming and they generally don't make outbound calls any more unless it is to arrange an appointment.

[@davem.4003]

Inbound phone calls are a major issue. Even the genuine ones want to go through their security checks but are unwilling, or unable, to go through my checks to validate who they are and seem dumbfounded when I ask. Clearly no one ever challenges them.

[@BunnyRabit-yo3lx]

We do, in our house. We call them back on the bank telephone line but I know what you are saying!

[@PaulB-q3d]

No solicitor should EVER send you payment detail requests by email. Never take a call from any bank, always call them back on the number you have stored from their website OR even better, drive in and give the deposit payment in person!

[@JamesShack]

Unfortunately, they do. Perhaps it is in a password-protected PDF, but if a scammer has got access to your email, they can just delete it and send their own version.

[@keithbrown339]

They do all the time. Sad but true.

[@ABCDefpaco]

Solicitors will always do this. The onus is on calling back a known person at the firm before sending.

[@xxwookey]

email can be very secure - just use GPG. It's been around for 25 years. Sadly almost all financial outfits are too useless to sign or encrypt their mail. Signed emails with a registered key in the strongly-connected set is _extremely_ good evidence that it really did come from where it appears to come from.

[@marzenie2583]

so in that case we should demand that they should do it by letter by post

[@WendyFTBC]

If you're ever going to make a payment to someone you should always send a test amount first. And make it some random amount like £3.56 not a round £1 or £10. Then when you call to ask if they've received the test funds, ask them to confirm the sum. We also need more awareness about sending private information by email. Everyone assumes it's safe but an email is as private as a postcard! Use a secure portal for transferring data. And if the IFA or solicitors or whoever doesn't have one, perhaps you should use someone else that does. We need to be much more aware of online security.

[@daveharruk]

That is a really good idea, I will definitely use that in the future.

[@keziasarah]

Yeah i've used this before when sending to friends accounts abroad and its a very very long account and Bank ID number with many different characters and numbers... However - I feel solicitors and government department would struggle with this as these small, strange amounts each have to be invoiced, so would not work and would even confuse accounting system into generating underpayment notices.

[@johnporcella2375]

How does a test amount change anything? The scammer will confirm the sum you sent them, no?

[@MarkLeabon]

We do that.

[@willywest1493]

Top tips, thank you 🙏

[@finnle5432]

Now I'm terrified, but thanks for the heads-up!

[@OurRetireEarlyJourney]

Right? Bad actors are everywhere nowadays!

[@MrCHrisfj]

Don't, just remember to take a moment to reflect and think before doing anything and if you are on the receiving end of an incoming call and they won't let you go, you have your answer.

[@amoosebum1439]

Hi James, I have followed your channel for a couple of years now and always enjoy your content and want to thank you for the quality and invaluable information over the years - but I particularly felt compelled to comment on this video which is just so important and beautifully put together! I teach computer skills to the elderly and I'm constantly trying to highlight to them the dangers of a "relaxed view to security", and lime you, I'm equally concerned the effect AI will have on us all generally, but yes in particular, the misuse of this 'ability' to clone someone's voice and pretend to be them is just a can of worms waiting to be unleashed on the unsuspecting. A Fantastic video - thank you for your integrity and passion in creating this and trust me, it will be passed on to my family and friends and integrated into the lessons I give to the elderly to help protect them from these despicable and unmoral characters willing to rob people (often the very vulnerable) of their life's savings. Thank you James and wishing you all the best

[@JamesShack]

Think you do much for the kind and thoughtful comment. Hopefully with more people like you we can help spread the work and help those that we can. But unfortunately it’s those that don’t watch financial KZbin channels or seek help with their finance that are most likely to fall victim.

[@newlife8318]

You're videos are excellent even before this one James. Maybe you can do the sideline specially in this area to keep us all trained up. I love the video you included as well.

[@agoodun11]

THE GOVERNMENT, INTERNET SERVICE PROVIDERS, EMAIL SERVICES AND PHONE COMPANIES NEED TO CRACK DOWN ON THESE SCAMS

[@garrenosborne9623]

Yes this is the post that should be massive, why are consumers / citizens to blame for climate change & wild west finance tec when thats what REGULATION & ENFORCEMENT IS FOR. The main thing the avarage person is guilty of, is assuming a quite simple life & those with wealth & power to do the right thing, this is an unreasonable expectation & false belief, help change things or be screwed by them.

[@edwinstar100]

Thank you for this. It happened to me 6 weeks ago almost exactly as the lawyer accounts. It left me questioning everything, and we should! I managed to confirm my partners wear abouts, and by asking many questions. They only wanted 1500.00 bail, I was so upset I did not question its authenticity. One part of my brain was screaming its a scam. The other part of my brain could not bare not doing something...to rescue. Everyone pass this video along to others. Thanks, James this helped me not feel like a complete fool.

[@newlife8318]

Actually you are right about how the brain splits at the time. That is EXACTLY what happens when we are being scammed. We are trained from a young age to be compliant and to help. And scammers are often exactly as bossy as people we already know who are on positions of power. I had just been threatened by the ATO Australian Tax Office demanding money ASAP while I panicked which fund I'd put the money into ( my daughters). About an hour later the FAKE ATO rang and were just as bullying in asking for my ID and completely compromised my account. Now I have a voice recognition...er well that wo t work any more will it?!?!?!

[@danniinthedesert]

When I was working as an estate agent in London, this type of scam happened to a Landlord who owed commissions. They sent an email with bank details and I heard of it happening to a buyer too. We did used to tell people, always hang up and call back. Never trust an email, always confirm via phone.

[@sometimesuk]

I think this is the best video you have done. Relevant to everyone.

[@JamesShack]

I think so too!

[@lornaprince8123]

What an incredibly powerful film. Everyone should watch this. I was deeply knocked in my confidence when scammed out of £5k earlier this year. Thankfully my bank came through and reimbursed me. But what a complete shock. I think the level of scamming is so sophisticated these days it is probably undermining the banking system. What happens when we lose trust in the banking system. Do we revert to old fashioned physical cheques again? Scamming us so, so bad.

[@adambritain5774]

James - you’re the reason i have a months (joint) income in a Vangaurd ISA so thank you for the four years of grade A advice you’re giving away for no cost to us on YT.

[@Snappypantsdance]

You have given Vanguard your money??? Talk about stupid. They are one of the international companies trying to control/ take everyone down!!

[@bitsandblocks7826]

I think this is the best video you've ever done James and if it saves just one person from losing their life's saving it will have been worth all the time you put into it. On calling back another thing to be wary of is to make sure the inbound scammer's call is disconnected as sometimes they will keep the line open and play a dial tone so you think you are connecting to the new number but are actually just speaking to the scammer again. I believe this only works with PSTN lines. If called on your home line call the bank, solicitor etc back via your mobile or a different PSTN line.

[@Larryjazzy271]

All content providers should do a detailed video like this for awareness. Highly needed in these dangerous times

[@JamesShack]

That would be good.

[@dpd1234]

Excellent advice. I would add you should never feel embarassed about falling for a scam, scammers can be very convincing, and silence only helps them.

[@danf3607]

Thanks James, a great topic to draw to your viewers attention. Much appreciated.

[@rosewest5168]

My dad was scammed. He's in his 70's. He gave them copies of his passport, driving licence and paid them 1000k ...possibly more. They made him believe so much that he didn't trust his family who were trying to tell him it was a scam. He didn't believe us. The police came and said because he willing gave money he wouldn't get it back. We never did know exactly how much he gave them in the end.

[@newlife8318]

The poor poor man! I myself was scammed very badly into buying a vehicle in the real ( surreal) world when I was really vulnerable. The person responsible just kept repeating the same phrases again and again. He was an eerily controlling person and I had severe PTSD at the time. Must have been triggered and disassociated plus feeling really really trapped. While someone above commented on the way his mind split so he knew he was being scammed but kept doing it anyway, I just went into a zone where i had to 'do the right thing' and keep my word and make a very large payment. I was also completely frightened and stressed because I stupidly told him how Id been attacked and he kept repeating how Id be safe in this bloody vehicle. He frightened the hell out of me. He wa obsessed not only with the vehicle but with me. Very predatory. Sam Vaknin did an excellent KZbin Video on Shared Fantasy of the Narcissist. Not my fantasy! The Scammer/NArcissist's Fantasy of getting the chunk of money or Narcissistic Supply from his victim. Whoops. Only just sold it at auction today actually. For hugely reduced price.

[@James_08_07]

When we bought our house I paid £10 first, rang the solicitor and confirmed they had received it. The idea that I might not have been able to tell if that person on the phone was real is terrifying.

[@newlife8318]

Have you noticed how on you tube videos people discuss if the presenter is a bot or not? For example, Louise Hay, who wrote books on health years ago has videos of her talking ( she is deceased) with many words mispronounced which clearly would be impossible if the video was of a real Louise Hay.

[@jonswatton6946]

Excellent video James. I had a near miss a few years ago when my solicitors email was hacked at the time I was due to send monies over on a flat purchase. It wasn't as sophisticated a scam as your example in the video, as the tone of the scammer's email just didn't sound right to me. Sooooo glad I called them to verify otherwise I'd have been done out of over £100k.

[@gordyl9247]

Not a scam but be aware monies lying in lawyers account awaiting transfer attracts interest which belongs to the client. Something that some lawyers are not completely transparent about. 😮

[@qwerty4324ify]

It's SHOCKING that you're not advertising a VPN or Password Manager on this video. Kudos! It's worth having this conversation with vulnerable people in your family, older parents, young adults, or anyone with poor email/password hygiene. They are vulnerable, and sophisticated automated attacks will come quickly.

[@SimonRickard-yb3vq]

Hi James. Followed your channel for nearly a year now...appreciate everything you do for us. After tonight's video I felt rather ashamed that I haven't given you my subscription. Well now you have it and I sincerely hope anyone else that has held back for no real reason does the same...thank you so much for everything! Keep up the great work! 💪

[@Nousmourronsseuls]

Excellent video, James. Powerful message that people need to hear. Radio 4 programme a year ago said that the police do not even bother to investigate over 90% of online scams. They said it was the best way for criminals to commit crime and not be caught. As well as protecting ourselves as you suggest, we need to put more pressure on politicians to do more to regulate banks and the on-line world to reduce these devastating crimes.

[@JamesShack]

Again, that's why they feel like they can continue to attack us with no threat of repercussions.

[@tightlinessteve]

Thank you James, I was scammed by a call claiming to be my bank and I'm no fool, but still fell for it. Luckily I got my money back. After what you've said, I've just changed all my passwords.

[@JamesShack]

Thank you for sharing, and I'm sorry that happened. Hopefully, never again, though!

[@keziasarah]

Yes, they a very very good at what they do, Everyone! - Do not think you are smarter, they are extremely well versed in what they do...

[@jillrobertson5548]

Thankyou for this scary times indeed.

[@Ferdinand208]

Feedback for James: The beginning of the video used a scammer narrative: - authority - emotion - scarcity - current events - urgency And you should rearrange the words so they can be used for a good Current events, Authority, Urgency, Scarcity, Emotion. ;)

[@richardwatt8845]

This is an excellent video with raising awareness. Also, the financial world is full of small companies and advisors who take care of their clients personal data but may be easier to compromise due to lack of in house IT skills. Like any tool AI makes it easier for attackers and defenders, by their nature attackers are usually ahead.

[@JayBrainstorm123]

THE BEST video on scams I have EVER seen! I thought I was aware, to a degree I am, but this has taught me a thing or 2. Thank you!

[@JamesShack]

Glad it was helpful!

[@Alex-to8es]

Your channel is successful because it makes what most think is a rather dull and dry subject relatable and somewhat interesting. It also isn't some get rich quick scheme, it is slow and steady continues to be in the race, you don't win the race, you don't even race! You just continue on day to day, with reletively low risk but some sustainable low level process. Everyone would love to be rich tomorrow, most people are smart enough to know most are scams or just gambling, here you are suggesting that with some basic management of money, tax, and their income, they can not be poor forever, even if they will never be rich.

[@markandjanice6234]

Maybe the most important and timely video you have ever done James. We are acting on your advice right now. 👍

[@johnporcella2375]

Your video is timely! Just the other day I received an SMS about not having paid a parking bill; I immediately knew it was a scam, as I do not drive! If I were a driver, I may have had a moment of panic and who knows what foolishness it may have led me to!

[@mountaingoatmtb1002]

The main question I have is why on earth are solicitors using email for sending ANY financial details. It should be banned.

[@meenboli]

I regularly get asked for me details from companies pretending to be my business bank. I have a simple rule - I speak to one person and one person only - and that's my relationship manager. If you don't know them - don't tell them anything. People do, however, fall for this all the time. There's no substitute for a quick phone call to verify.

[@MrKlawUK]

the issue with the first example is that its ‘normal’. They were buying a house. They were working with this solicitor. They were expecting to pay a deposit. So there is no ‘smell’ that seems off like most scam emails do.

[@humphreychiu]

More than anything, I thank James for raising awareness. The word has to be spread much much more widely.

[@newlife8318]

Thanks to James I notice that the comments are really opening up!

[@maninarucksack8983]

The solution to this problem is simple and one which i have adopted for years (simply because I am dyslexic and prone to keying errors). 1) I set up the target account for the transfer. 2) I transfer a small UNDISCLOSED amount of money (a fee pounds and pence). 3) I call the target account owner (friend or business) a day later and ask them to verify the amount of money they received from me. 4) Once validated, I transfer the remaining balance. QED.

[@angus3963]

We will literally need to agree on personal authentication passphrases that are only ever agreed upon in person and never mentioned digitally. Also ONLY EVER use sites that allow for MFA or 2FA, more and more users MUST demand the highest level of security where personal identifiable Information is stored, if you can't use MFA/2FA DO NOT use the service, the risk is NOT worth it.

[@JP7onEarth]

James, very powerful. One very well known Entrepreneur was vocal about slowing down AI development sometime last year. He called for a break in development so as to allow everyone to discuss AI more in depth. Seems not much has been done along those lines. Your warnings hit quite strong with me. I sent your video to family and a few friends.

[@Shxne95]

Really appreciate this public service announcement. I think what I find so good about your videos is the choice to include real life stories and experiences. Like the example in this video.

[@__Wanderer]

I've been thinking about exactly this for a while now - very good video, everybody needs to know this is coming. Definitely scary stuff that can destroy your life.

[@teamschmangled]

Thank you James, you have really opened my eyes to the current state of play out there. Please thank Fred and Jemma (whoever they are in real life) for being brave enough to share their story.

[@edb6525]

Everyone needs to see this video.

[@christines5430]

Thank you for making this very important video. I have just shared it with family.

[@JamesShack]

👏🏻

[@homertrix]

The solicitor should be accountable here for not implementing suitable domain signing keys for email and the like. There is no excuse in today's world for this not to be in place.

[@DjinnWraith]

Excellent advice, Thank you. Wish more people were made aware of just how easy it is to fall victim to some of the scams now and just how little recourse we have as the general public.

[@IMBlakeley]

I am in the process of buying. My conveyancer has sent bank details in a letter and made several notes that they will not change those details which I have already paid small deposits too.

[@Unitedflyier]

I just told my elderly mother to set up a verbal password. If it's really me only we know what the word is. If it's AI it won't know. But do this in person not via email

[@randysgutful]

Is it Bosco?

[@kingofscrews]

My rules: 1. Be very, very skeptical. 2. Trust but verify. 3. Don't answer the phone, let it go to vm. 4. Screen email senders before opening email. Force all email to go to junk folder. Only release the ones you are sure are legitimate. Delete the rest. Do this daily. 5. Teach your loved ones these rules.

[@fanfeck2844]

Great advice! What does sending emails to junk do differently than going to inbox?

[@UK-nl4np]

Forcing all emails to junk does nothing other than that good advice

[@kevbarker73]

@@fanfeck2844 one advantage is that links to websites are blocked until you move them. This will prevent accidental clicking until you have verified the sender is legitimate

[@mikelegassick]

Hi James. A sincere thanks and congratulations for putting this video together. As a fellow asvisor I have shared it with all my clients. I produce video content for my clients and understand the time and effort that goes into these videos, so hats off. Well done.

[@ashharryman19]

Bravo for doing a video on this chap.

[@JamesShack]

Needed to be done!

[@simonpackham5780]

Excellent message - thank you. I will share this with my family and friends. I too use a password manager after I started to get some dodgy spam emails listing a common word that I used to use. In relation to the spoof of the lawyer and his son, perhaps I may suggest a key word within my family as a further safety measure. Thank you again. If you’ve saved just one person from the heartache of being scammed, then your video is of great value - I suspect it will be more than one person.

[@argentum3919]

Do not call back on the landline phone. You were called on if somebody's asking you for money. Call the number you know is safe from your mobile phone

[@mick2d2]

Best way of making these payments is to go to your bank, ask for a bank draft (think that's hte name). It's a cheque guaranteed by the bank (for large amounts). Then you go to the right place and make the payment in person! That's what I did when I bought my house.

[@alexmuller702]

This is a very important topic and thank you for raising awareness! However, in terms of underestimated security risk I think there is one bigger underestimated issue that really no one talks about and that is old school robbery: what if a robber points a gun to my head and asks me to cash out the money held in my broker account and then transfers it to him (for example by buying crypto on his behalf or some other way that is not trackable)? In the pre-online broker era, they would have had to hold you hostage and deal with police etc. but now they can just literally force you to push a few buttons on your phone to get the money within let's say a single afternoon before anyone notices that you are missing/held hostage etc. Would brokers reimburse you in such an event? Or are there insurances that offer protection from such forms of robbery? I'd be very interested to know - many thanks!

[@mikegraham2953]

When I last sold a house I had it documented in a face to face meeting that payment details can't be changed except face to face meeting. I wanted to give a thumbs up to your content. As a Chartered Banker, MBA with distinction in banking and finance as well as previously holding a financial planner qualification I can say it it all relevant for the audience. That's not to say I wouldn't explain things a little differently but that would be for a different audience. I have shared your content with a friends daughter as I didn't want her to get disillusioned with her pension growing slowly when starting out after I told her that she had to do it. Starting early even on a low amount is the best thing for anyone to do. Hats off to you for sharing this info freely.

[@jacobside2656]

That fact that it's fraud, and everyone says we can't do anything about it, is ridiculous. It's theft plan and simple. The bank should just be able to pluck the money back out of that account.

[@newlife8318]

I think some banks are better than others. Is it the case that having a credit card means we can protect our purchases but not with a debit card?

[@cherfromtn8225]

Some scams are using bitcoin which can be extremely difficult to trace, plus some scammers are located in foreign countries with which the US has no extradition treaties. In some countries, the gov doesn't particularly care if folks in "richer" countries get scammed. Some scammer tried to get my husband to set up a Zelle account with our bank. It had started with an email from PayPal saying funds had been fraudulently taken from his bank account . He signed into his PayPal acct to verify this info and called the actual number listed ON THEIR WEBSITE. The number on their website was a real PayPal number, but the scammer was working with an inside PayPal employee to make a change and divert the call to the scammer. This has been going on since 2013 and you can read about it on the net. I guess PayPal employees lots of people overseas, and they just team up with scammers. Moral of the story is to never link your checking account to anything and not to trust phone numbers on websites. Also, get the fraud phone number for your bank and call that directly to check on suspicious stuff. It is practically impossible to get to the correct fraud department using these stupid automated answering services. So irritating.

[@footballcoachandreferee]

Thank you for this episode, James. We should all be made aware of these scammer scumbags and preventative measures to stop them taking advantage of others.

[@JamesShack]

Thanks for the comment, and you’re welcome.

[@deccantraps9332]

One thing I can also recommend - make sure to do this in person, not over a phone or other digital device - establish a safe word/phrase, so that you can verify if you're actually talking to the real person!

[@deerhaven3350]

What a nightmare! Thank you for sharing this information with us. I have always felt that it's absolutely criminal that the internet was allowed to be set up in the first place without a system of checks and balances in place where it would be impossible for a scam to ever occur.

[@Chanesmyname]

Absolutely sick for the people who were scammed I know I could fall for one of them scams and that makes me even more paranoid in my dealings with anyone and everyone, what a world. I hope the scammed do find some peace, it must be dreadful for them.

[@anthonycolbourne4206]

So much of this information should be passed along to everyone you know... 90% of all phone calls I receive are some type of scam... if only phone numbers could be as easily changed as a password.

[@waynefoster8628]

Great awareness publication James. 2 things to add from my experience: 1. Always use 2FA / MFA for any logged in accounts 2. Send a token amount to a new bank account (24p) - ask the recipient to TELL YOU what the amount is.

[@Moist._Robot]

Scammers once called me back and demand that I be quiet and listen to them as I had tripped up their colleague in an earlier call. Ha ha ha.

[@mikerodent3164]

Yes, wasting the time of these insects is the best policy... let them think you're being led up the garden path... only to say "well I entered my password, ... but, well bless my soul, terribly sorry but the money doesn't seem to have gone through. I do apologise for wasting your valuable time ...". Disappointingly they never contact me, though.

[@Moist._Robot]

@@mikerodent3164 I’ve had loads since I was once scammed of a relatively small amount of money. Turns out those who’ve already been scammed are most likely to be scammed again so I must be on a list. I once had a beautiful sounding Eastern European woman trying to set up an account to retrieve my Bitcoin. After half an hour of her telling me it wasn’t a scam, she eventually told me she didn’t give a F about me or my money. Awful people.

[@newlife8318]

That is so funny! Genius!

[@MrCHrisfj]

Thank you James for making my job a little easier, this is something that I try to get people to understand everytime somone says that they don't need or want MFA (2Factor authentication) or demands no or a simple password for a service or they have just clicked a link in an email without really checking the authenticity of the message when the email program has highlighted that the email may be fake.

[@jasoncorless9590]

You are absolutely right. I work in AI and have been stating this for the last couple of years. I have a solution, but it needs national government or even better, international agreement - but it wont ever happen due to the greed/power hungry industry and government leaders

[@JamesShack]

What would that solution be? A regulatory one?

[@stuwhite2337]

You don't need to be smart to avoid this. For any large transfers just pay £1 and then speak to the recipient to confirm it was received. If you get it wrong you don't lose much.

[@benking9593]

Great video James. Genuinely frightening stuff! I'll be showing this to my parents 👍

[@JamesShack]

Please do!

[@Nils_1984]

The biggest problem is that there is "no" drawbacks for doing this type of scam... Change the law - and give the scammers 10 times stronger sentences....

[@craiganderson5556]

They are rarely caught, so they don't care about the sentence.

[@bobjames6622]

Go into your bank and make a CHAPS payment, after obtaining the banking details from your solicitor by visiting them in PERSON. Costs only £25.00 and a bit of inconvenience. Then sorted.

[@DiscoFang]

Much easier to just ring the solicitor. Initiate any call yourself using a number you know to be correct.

[@kevinbrook7033]

Yikes, I had no idea scammers were so good! I checked my emails, several of my personal emails and even my NHS email have been involved in data breaches, definitely need to change my passwords. Great video, I've passed it on to the communications lead in my company as it could potentially save people from being nastily scammed.

[@JamesShack]

Great, I'm glad you've found it valuable.

[@richguest]

Many thanks for this.

[@JamesShack]

I'm glad you found it useful!

[@chrisbeach44]

Well done James 👏👏

[@clarkeysam]

I work for a small company (like 20-60 employees). Every month or so a scammer emails someone in our company claiming to be the CEO or CTO asking for help. I went to the head office of one of the richest companies in the world. I made a comment about their security being the highest I've ever come across (we weren't even allowed to walk from the meeting room to the toilet across the corridor without an employee following us, despite us working together for over a year) I was told they face more than 1,000 cyber attacks every hour of the day!

[@TheGregWallace]

good reason to deal with a local bank and local lawyers and physically hand them a check and physically sign papers.

[@BusyBee262]

Thank you for posting this important video

[@JamesShack]

Glad it was helpful!

[@sidremey]

Great video. By the way it is Two Factor "Authentication" and not "Authentification". James, I recommend that your company implements personnel pen-testing as well. All companies will have to test their employees as a matter of routine going forward.

[@johnporcella2375]

"Pen testing"?

[@ade7246]

@@johnporcella2375 Penetration testing

[@davem.4003]

​@@johnporcella2375Penetration testing - testing to ensure that all appropriate security protocols are in place and are up to date. It's one of the keystones for preventing unauthorised access to systems.

[@DiscoFang]

@@johnporcella2375 Even more confusing when you add the word hygiene - Pen test personnel hygiene.

[@labrun4633]

Brilliant James - bringing it to life

[@Markrspooner]

have shared this video to friends and family as I think it is really important. I worry that the people that really need to see videos like this and those less likely to watch it.

[@JamesShack]

Thank you for doing so. I agree. That's why I decided to sin a little with a clickbaity title and by not tell people what the video is about until they're hooked.

[@rubricalchunk1831]

Little tip James. You mentioned you need to know one password. You should always know two. Email and password manager. Never store your email login details in your password manager. Last pass was hacked. There goes your email PW too.

[@jacc88888]

Great advice and very concerning what is happening. With landline phones if you received a call from someone pretending to be your bank it was even risky to hang up and call back your bank on their number as often the scammer was still on the line and had never hung up. I wonder if this will soon be possible with smartphones as well…

[@ElectronicsRobotics-pe9sp]

Thank you for this, my parents are in their 80s and I have had to help them deal with their scam attempts. This is a really worrying development and something needs to be done about AI

[@RajR96]

Nice timing!

[@lightweightben]

When we paid our initial deposit we paid by a bank cheque in person, the balance of the 20% that we paid the bank details were via an official app that had to be through official brokers. I would never trust this kind of thing to email or a call.

[@paulbarrs4819]

Thanks James, some good advice there. I would also suggest that you send a test amount to the bank details first, just a £1 or so, to make sure they get it.

[@SusanCollins-dk9kv]

Thank you for posting such an important video. I've forwarded it to my children. I didn't realise it could potentially get even worse.

[@beckylee3356]

Thank you so much for highlightling this problem, especially as we move forward. AS you say most people will be unaware of this, which can bring devastating consequences so thank you so much again for sharing this with us.

[@laurysparks6215]

Thanks for highlighting this to your audience - really important topic that a lot of people are not clued up enough about. Great work James!

[@dudleyjoseph9485]

Great video James. Not seen any of the other finance KZbinrs cover such an important topic. Obviously as individuals you want to do all the good things you have covered but as a cyber pro, I'd add making sure that all your software is always kept up to date; Just set up things to automatically update. My experience has been that many solicitors are way behind the curve in relation to security esp some of the smaller firms. Whilst protecting yourself is important, a good idea too is to check out whether the firm/s your are dealing with have Cyber Essentials certification. It costs small businesses £350 and is a sign that they have got the basics right. Final thing to say is treat email and SMS like the post box in your door - anyone can put anything in it.

[@keziasarah]

I know two people - One was a builder wanting final payment to xyz account details....- £5k boom gone - Scammer had hacked builder's email account (This must be 10 yrs ago....), and an elderly gentlemen who had the "I need £500 now as my cards have been stolen" email - Again, hacked email account of a friend...

[@thestoicsteve]

Very helpful video. We should all up our defences to recognise things which may be a scam.

[@davidhenderson8129]

I'm going to show this video to everyone in my immediate family

[@JamesShack]

Please do.

[@TomsPersonalFinance]

Super important video excellently put together. It is very scary how bad it is going to get with AI. TikTok is even worse than KZbin at the moment. I created an account, and within 1 month there are 10 scammers pretending to be me and messaging all my followers. Reporting them achieves nothing.

[@JamesShack]

Yes, it's very worrying. As a content creator, you feel powerless when these platform do so little about it and make it so hard to remove fake accounts,

[@TomsPersonalFinance]

@JamesShack Yes honestly spend so much time worrying about people getting scammed. Thank you so much for making this video. I'll share it with my feiends/family