Participants: Cordell Thomas
Series Code: TITTB
Program Code: TITTB000030
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00:01 On Take it to the Bank,
00:02 you'll find ways to get out of debt. 00:09 Solve your credit card problems. 00:14 How to make and stick with the budget? 00:19 Simple ways to save. 00:24 Buying or selling a home 00:26 and many more financial matters on Take it to the Bank. 00:31 Hi, My name is Cordell Thomas 00:33 and this is Take It to the Bank. 00:35 We're gonna talk today a little about 00:37 the introduction to critical thinking. 00:39 It's a... 00:40 we have changed our lecture series 00:42 to the point that we have changed it 00:44 from calling it financial literacy 00:47 to the concept of thinking critically. 00:50 We got to critical think on money 00:52 and people tend to gravitate to that a little bit more. 00:55 We ask people this question in some of our lectures, 00:59 "Would you open up a bald, a barber shop for bald people?" 01:04 Would you do that? I don't know. 01:07 Based on the economy, 01:08 based on people's need to shave their heads, 01:11 there are a couple of things you should look at. 01:13 But when you think about it critically, 01:15 do bald people need a barber? 01:17 And when you ask that simple question, 01:19 your answer typically comes out to what it needs to be. 01:23 And the same thing comes out to any type of money question 01:25 that comes your way. 01:27 We have... 01:28 are being inundated by so many different emails, 01:33 voice mails, tweets. 01:35 We got people hitting us via social networks. 01:38 We got things hitting us in so many different ways 01:41 and still our physical mail box is full of stuff 01:45 and we can't tend to get rid of it. 01:47 But there are different tools that you can use 01:49 to get rid of people giving you calls 01:52 when you don't want them too. 01:54 They call you typically at dinner time, 01:55 because they know you are home. 01:57 Or sending you mail in your mail box 02:00 that you don't necessarily have... 02:02 necessarily need. 02:03 And then we think about what it is to be a consumer. 02:08 And there are several things 02:10 I'd like to chat with you about today 02:12 as we look about thinking... 02:14 at the issue of thinking critically. 02:17 Okay, so I asked the question, 02:19 "Would you open up a barber shop for bald people?" 02:21 I'm not criticizing the bald people in the world 02:23 because technically, I have bald parts in my head. 02:27 And I got to keep my hair cut short. 02:29 That's just a little insight for you. 02:31 But if you look at the question that I'm asking 02:35 about a barber shop 02:38 for individuals that don't need haircuts, 02:41 the critical think falls into place 02:43 and you ask the question, "Why would I?" 02:47 So let me ask other questions about how we consume. 02:51 Did you know, out there in... on YouTube, 02:54 there are several videos that you can look up 02:57 about the consumer mentality. 02:58 Now, when we talk about a consumer mentality, 03:01 what are we talking about? 03:04 It's quite simple 03:06 when you take a look at what consumerism is all about. 03:09 Consumerism basically tells us that you and I 03:13 have been conditioned to be 03:15 individuals that like to buy things. 03:18 Since 1984, we have seen our personal savings 03:21 drop significantly even down to a negative savings rate, 03:24 which means we're spending more than we make. 03:28 One of the simple things that we hear about 03:31 from the wealthy is that 03:32 they always spend less than what they bring in. 03:35 And that's when the major concepts 03:37 I'd like you to think about 03:38 when we're looking at critical thinking. 03:40 How are we able to spend less than we bring in. 03:43 In our lecture series, we talk to people 03:45 about the necessity of a budget. 03:47 And we actually go through a class in developing a budget 03:50 and the budget you can find on our website. 03:52 It's a free download. 03:53 And it gives you pretty much 03:55 every different element that goes into a budget 03:56 but the critical issue here is, 03:59 if you make a certain amount of money, 04:02 how are you going to monitor the outflow of those funds 04:06 and make sure that you have funds to go into savings, 04:09 funds to go into investments? 04:11 Because if you don't have a budget, 04:13 you're typically spending what you make. 04:16 And the example is given time after time, after time 04:19 as we go through a specific budget 04:22 with the individuals we're talking to. 04:23 And every single time, 04:25 I actually push the individuals, 04:28 "I say, look, 04:29 how much do you want to make on a monthly basis?" 04:31 The last time we did this they said let's... 04:33 "We make $6,000 every month." "Okay, we make $6,000 a month." 04:36 "Great. Do you have any part-time income?" 04:38 "Oh, no, we don't need it because $6,000 is enough." 04:41 I said, "Why don't I just throw in an extra $1,000 04:44 of part-time income for you, that you just make 7000. 04:47 It's not major issue. 04:48 It means that you'll just have an extra $1,000 to save." 04:51 Do you know that, 04:52 every single time you go through mortgage 04:54 and go through household needs 04:56 and go through groceries and go through gas 04:59 and go through every specific element 05:01 that can go on a budget sheet. 05:03 At the end of that budget sheet, 05:05 we have individuals that are spending $7,500 a month. 05:11 And they're in the negative, in the red. 05:13 It's interesting. 05:14 You laugh at it sometimes 05:15 because you come down to the bottom 05:17 and you know what's going to happen, 05:18 they're in the red. 05:19 Many different things come to play as you look 05:21 at the decisions people make about their personal finances. 05:25 For example, 05:26 some individuals have extra, high-speed bandwidth 05:31 that they have coming in their house. 05:32 So they feel they need to have a voice-over IP-type of system 05:37 to answer phone calls. 05:38 Because they actually have it, 05:40 they're paying a little extra for it. 05:41 It's not a big deal. 05:42 And then, they also have their cell phone, 05:44 which also brings in phone calls to them. 05:47 And all of them seem to have a landline also. 05:50 So you have three different resources 05:52 that give you telecommunications access. 05:57 Do you really need all of that access? 06:00 Additionally, take a look at the fact 06:02 that you as an individual have Internet now. 06:06 So you have people sending you emails. 06:08 They are sending you tweets. 06:10 They are sending you 06:11 connections through social networks. 06:13 All of these have access to you, 06:15 so you can communicate via that way also. 06:18 You have individuals who are spending money on groceries. 06:21 We ask the question, how much you spend on groceries? 06:23 A lot of people don't know 06:24 how much money goes out on groceries. 06:27 When we asked a young lady that question 06:29 in one of our programs, 06:30 she said, "Oh, I think we spend $75 a month." 06:33 The mom in the back of the room, 06:34 she says, "Oh, no, we don't. We spend about $750 a month." 06:39 I can tell you by that number, 06:41 750, how many people are pretty much in that family. 06:45 It was about five. 06:46 I said, "You have five or six people in your family." 06:48 She says, "You're right. 06:49 And we spend about $750 just on groceries alone." 06:54 And you get down to gas. 06:55 Nobody knows how much you spend on gas. 06:57 Do you know what you bring in 07:00 to how much you put into your gas tanks in your cars 07:04 on a monthly basis? 07:05 People didn't know that. 07:06 And you had to ask them to go home 07:08 and track their spending and come back with a number. 07:12 And typically that number is between $250 to $400 a month 07:17 spend on a monthly basis on gas. 07:20 People are saying that, 07:22 "Oh, yes, we have a newspaper that comes in." 07:24 Well, why do you need the newspaper 07:26 when you have access to online news information? 07:30 And that's one of the critical things you think about. 07:32 Do you need to pay for both of those? 07:34 Or do you need one source for your information? 07:37 And you go to things like, care for your pets 07:41 and electricity, water bill. 07:43 It's another big issue that people are not aware of. 07:45 Water, sewage, and those types of elements 07:49 are a part of a package that people don't know. 07:52 "I don't know, I think I spend $100 dollars. I spend 75." 07:56 I know exactly how much money I spend on water and gas, 07:59 and water and sewage each month. 08:01 It comes to $110 a month. 08:03 And I can save if I don't sprinkle the lawns 08:07 as frequently as I need to. 08:09 But these are things that people don't know. 08:10 And they typically have this mindset that 08:14 they've been told that it took 33 to 35 percent rule 08:17 of how much money you should be spending 08:19 on your mortgage or rent based on your income. 08:23 So people automatically assume would be $7,000 now an income. 08:27 I can spend $2,500 to $3,000 a month on mortgage or rent. 08:34 Is that really the way you should approach it? 08:36 Many people who get increases in pay from their work 08:41 typically think they need to improve 08:43 their living settings or buy a new car. 08:47 It's just this innate mindset 08:49 that we've been told by the media 08:51 that we need to be consumers. 08:53 Because since they have been able to come at us 08:57 in every different way, 08:58 we have capitulated and said, "Okay, no problem. 09:02 I am going to be that individuals that buy, 09:04 that individual that buys things." 09:06 They have targeted the middle class 09:08 because they know 09:09 that when we talk about a tax incentive 09:11 or giving you a tax break at, at tax time, 09:15 you get an extra $2,000 or $2,500. 09:18 "Wonderful. They're giving me some money back. 09:20 They're finally taking, taking care 09:23 of we as a hardworking middle class Americans." 09:26 Do you know why they give you the $2,500? 09:29 Because they know 09:31 you are going to spur the economy 09:32 by spending every penny. 09:34 They know that so they give you that money 09:37 to go out and buy 09:39 the next best item at your retailer, 09:41 the next best car, the next best thing. 09:44 And these are things that we need to be aware of 09:46 that we cannot physically get into this... 09:50 consumerist mindset 09:51 because we're...they're not doing anything for us. 09:54 Every time we buy something, 09:55 they get more information about us. 09:57 Every time we buy something, 09:58 we help spur the economy and guess what? 10:00 We're still paying the same amount in taxes. 10:02 So there are many things that you should be aware of, 10:05 that they're not out there looking to take care of you. 10:09 They're looking, to get money from you 10:12 because that's what business is about. 10:15 I was sitting in a meeting with some young people 10:18 who had just gotten summer jobs. 10:21 It was at the beginning of the summer back in June. 10:24 And we had 10:26 about 50 young people sitting in the room 10:28 and it was quite interesting. 10:30 I was following the presentation with the bank. 10:33 The bank came in and made this comment to the kids. 10:37 "Hey guys, 10:38 we have a limited offer for each one of you. 10:41 We're offering each one of you young people, 10:44 as long as you sign up for direct deposit, 10:48 we're gonna give you a free checking account." 10:51 Oh, the kids loved it. It was signed right up. 10:54 And now they're depositing 10:56 all of their cash into that bank. 10:58 And the banker says, "Thank you very much." 11:01 Signs them up and leaves. 11:02 My first comment to the kids was, "A bank is a business. 11:08 A business is in business to make money." 11:12 You're getting a free checking account, 11:15 but is it really free? 11:17 Because once you don't monitor your account as you should 11:22 and you bounce a check or overspend 11:25 or swipe your debit card. 11:28 And you don't have enough funds in there, 11:30 do you know what happens? 11:31 Because of course, 11:33 you'd expect that if you don't have any money in your account, 11:35 and you swipe your debit card, 11:38 you're not going to have any transaction. 11:40 It'll deny your transaction. And you can set it up that way. 11:43 But typically, the bank will set it up in a way 11:45 that it will still pay for it 11:48 and charge you an insufficient funds fee. 11:52 They are going to make money one way or the other. 11:55 And you know what the fees are for insufficient funds today? 11:59 In many areas, it's about $35. 12:02 And there in 12:03 is a key to understanding how the systems work. 12:05 But it's not only just the fact that 12:07 if you don't monitor your account in the right way, 12:09 it comes back to a simple issue. 12:12 That issue has to do with your money. 12:15 The bank is going to give you a simple interest fee 12:16 on your money in your checking account. 12:18 Give one or two percent. 12:19 You feel comfortable, 'cause it's your money 12:21 is in a safe environment. 12:23 That's a good thing. 12:24 But do you know that they take your money 12:27 and reinvest your money? 12:29 They leverage the cash that you put in the account 12:31 and reinvest it. 12:33 And they get a return rate of between 20... 12:36 can be between 20 and 25 percent 12:39 on the money you've put in. 12:40 So yes, they want you to put money into their accounts. 12:42 Yes, it is a safe environment to have your money in 12:46 but if you don't understand the environment, 12:49 you can have a major ordeal to deal 12:52 with when you bounce a variety of checks, 12:54 you don't have sufficient funds, 12:55 and they charge you 35, 50, 70, 12:58 how many hundreds of dollars that could be charged you 13:01 for not having the correct funds 13:04 in your account. 13:06 These are significant issues, about how we need to begin 13:09 thinking critically about what we do. 13:13 And beyond that, your money is, is, 13:17 is something that is a draw for other type of individuals. 13:22 And I will show you something right now in a video 13:25 that I think will be quite interesting to you. 13:27 It is one of our lottery scam videos 13:30 that we have approval to use for educational purposes. 13:33 And we'll take you there right now. 13:36 Coming. 13:37 Good afternoon, Mr. Thomas. 13:39 I'm from your credit card company. 13:41 We suspect several unauthorized transactions on your card. 13:44 Really? My credit card company? 13:46 Yes. And we care about your security. 13:48 So, we make house calls. 13:50 Good news is you give me your social security number 13:53 and we'll take care of you. 13:54 Is that all you need? 13:56 Not quite. We also need your pin number. 13:58 I forgot. 14:00 What's that on your back? 14:02 Nothing. 14:03 Oh, I get it. 14:04 You're phishing for my personal information, 14:06 right? 14:07 No. 14:09 So you can steal my identity, right? 14:10 No. 14:12 Then how come you have a fin sticking out of your back? 14:15 Honey, get my tackle box and rod. 14:20 OnGuardOnline.gov 14:22 has tips to help you guard against Internet fraud 14:24 to secure your computer 14:25 and protect your personal information. 14:28 To be more secure online, log on to OnguardOnline.gov. 14:33 Stop. Think. Click. 14:39 Phishing. P-H-I-S-H-I-N-G. 14:43 Takes off of the word "fishing" 14:45 when you actually go out on a boat 14:47 and you through out a rod. 14:48 That's actually what's happening 14:50 and that's how they refer to it as phishing where... 14:53 and someone will send you some information to your inbox 14:57 and ask you for personal information. 14:59 Now it gets...it's not just as simple as that. 15:02 Because what they're doing 15:04 is they have a link in the website 15:07 that leads you back to a site, your banker site. 15:10 Well, it's not really your bank site, 15:11 it's just a replicated site of your bank site 15:14 that looks just like 15:15 whatever bank your banker you're at. 15:17 And so now, how... I ask the question, 15:20 "How did they know what bank you utilize 15:23 to save your money or put your money in, 15:25 so much so that they can replicate your bank's website 15:29 for the sole purpose of you going to the website 15:32 and putting in personal information? 15:33 Number one 15:35 your banker has certain tools in place 15:39 where they never have to ask you 15:41 for personal information 15:42 when they send it to you via internet. 15:45 Typically they have your information 15:46 and they just give you updates 15:48 and ask you to call in or go to the website of, 15:52 of whichever bank you use 15:54 and check and or update your information. 15:57 But you should never be asked for personal information. 16:02 Who's a target, target demographic of all of this? 16:05 Well, they are targeting people who are... 16:08 make between $40,000 to $45,000 a year or less. 16:11 And they're typically I think, minorities or individuals, 16:14 that they have been able to find information on 16:17 through the database. 16:18 Now, what is a database? 16:20 What does a database have in it? 16:22 It's quite interesting when you take a look 16:24 at some of that information that is in a database. 16:27 For example, 16:28 types of information that's generally available 16:30 to the general public 16:32 or information such as demographic information 16:34 that's typically taken via the census. 16:37 Information such are in the telephone directories, 16:39 phone numbers of your business or your or your residence, 16:43 birth, marriage, divorce records, 16:45 voter registration information 16:47 and as well as campaign contributions. 16:49 Driver's license information, 16:51 licensing and permit information 16:54 and legal information such as judgments bankruptcies 16:56 as well as real estate titles and the like. 16:59 Now, private databases available to only those 17:03 that need that information and for legitimate purposes. 17:07 These private databases and have in, in, in them, 17:11 employment information, credit reports, 17:14 tax information, criminal records 17:16 as well as social service records, 17:18 school records and others like medical records. 17:22 People aren't aware that this information is out there 17:24 and if it's hacked into then, of course, 17:27 your information is now available to many. 17:31 So we ask the question, 17:32 how do they get this information? 17:34 Well, as asked, 17:36 what's information of you is in a typical database profile? 17:40 Did you know that your address, your phone fax numbers, 17:45 your social security number, your credit card numbers, 17:48 your driver's license number, your bank account information, 17:51 your student loan history, 17:53 information such as medical, driving records, 17:55 workers' compensation, tax records, 17:57 political affiliations, spending patterns 18:01 and of course, estimated income. 18:04 All of that information is available in these databases 18:09 and they are out there 18:10 and once hacked into can create a lot of problems 18:14 if they get to your access to your information. 18:17 So it is very, very important 18:21 that you do the right thing in protecting your information, 18:25 protecting the credibility of your information 18:28 and making sure that you have passwords 18:30 that are not easy to figure out for those that are out there 18:34 looking for that type of information. 18:38 Now there are many things that you can do 18:41 if you're interested in protecting yourself 18:43 from all of these individuals 18:44 who are looking to get information about you 18:47 and then target you as a potential victim. 18:49 One of those things you can do is use the Opt-out Services 18:52 that are available for you online 18:55 and which we'll make available to you on our website. 18:57 The key to this 18:59 is understanding that you should not offer out 19:02 any private information for someone, 19:04 from someone that send you an email. 19:06 We've seen so many different times 19:08 that people are... have been asked to provide 19:11 specific detailed information 19:13 and that information can be used 19:16 to be sold out there in the marketplace, 19:19 on a global marketplace, 19:20 for individual who put... 19:22 individuals who'll pay as little as $35 19:26 for your personal information 19:27 and your bank account information. 19:29 And then you have a whole new list of problems to deal with. 19:34 Now, I have a short video I'd like to show to you 19:36 that will talk to you about some other type of scams 19:40 that are out there and it will be very revealing 19:42 to see how they target their victims. 19:48 Crooks are always looking for new ways 19:50 to get their victims' money. 19:52 Now some fraudsters are targeting 19:53 unsuspecting MoneyPak customers. 19:56 Don't be scammed like Coco and Mike. 20:00 While shopping online, 20:01 Coco has found the perfect pair of boots 20:04 that are sure to get her noticed. 20:06 "These boots were made for me." She contacts the seller. 20:10 Meanwhile, Mike is having the best day of his life. 20:13 With bills to pay, he just found out 20:15 he won a sweepstakes worth $3 million. 20:19 Hello. 20:21 "This is going to change my life!" 20:24 Even though Mike has never entered a sweepstakes, 20:27 he's excited to get all the details 20:28 on how to collect his cash. 20:30 The sweepstakes official 20:32 tells him he's required to pay the taxes on his winnings, 20:34 $1,000 before they can release any of the money to him. 20:38 He was told to put the 1,000 on a MoneyPak. 20:41 Then just call me back, 20:43 with the MoneyPak number on the back 20:44 and your fees are paid. 20:46 We'll, send you the $3 million immediately." 20:49 What you're going to do with all that money, Mike? 20:53 Coco gets an email response. In stock and ready to ship. 20:56 Yay! 20:58 They explain the quickest and safest way 20:59 for her to pay for her hot boots 21:01 is through a MoneyPak. 21:02 It's the only payment that they accept. 21:04 Unfortunately, 21:06 Coco doesn't check if the online seller 21:08 is an approved MoneyPak partner. 21:10 And also buys a MoneyPak, 21:12 loads it with $120 to pay for her hot boots 21:15 and gives the MoneyPak number to the seller. 21:17 "That was easy. I can't wait for my hot boots!" 21:22 Well, Coco, you'll be waiting a long time 21:25 because you'll never get those hot boots. 21:27 But the sellers got your money. 21:30 And yes, Mike's life did change. 21:33 His $1,000 in the hole 21:35 and spends most of his days looking in the mailbox 21:38 for a check that will never come. 21:40 Don't let a few minutes with the scammer 21:41 separate you from what's taken days, 21:44 weeks or even a lifetime to work. 21:46 Consumer Federation of America reminds you, 21:49 your MoneyPak number is the same as cash. 21:52 Use it only to transfer money to a prepaid card, pay bills, 21:56 or add money to an account with one of the companies 21:58 that partners with MoneyPak. 22:00 If someone who isn't on the approved 22:02 MoneyPak partner list 22:03 wants your MoneyPak number for any other reason, 22:06 such as to pay taxes on money you supposedly won, 22:09 it's a scam! 22:10 You can protect yourself from fraud. 22:12 Learn how at consumerfed.org/fraud 22:15 or moneypak.com. 22:21 Is that something you've been aware of? 22:22 Have you gotten a call one time and ask for something? 22:25 I just experienced it recently. 22:27 I think one of my pastors, 22:29 previous pastor's accounts were hacked into 22:32 and all of his contacts were emailed saying, 22:35 "Hey, I am stuck in a specific country 22:39 and I have had my information stolen from me. 22:42 Can you send me some money, so I can get my passport, 22:47 documents paid for and get back to the mainland?" 22:50 I got that. So what did I do? 22:52 Did I send it immediately? I asked one critical question. 22:57 By picking up the phone and calling him, 22:59 and saying, "Hey, how you doing in this country?" 23:02 He said, "I'm not there, I'm still in Riverside." 23:05 Well, that told me something. 23:07 Someone hacked into his account 23:08 and basically was asking all of his friends and contacts 23:13 to help him out. 23:14 Now, there's something you should be aware of here, 23:16 that in business, we've learned that, there's a way 23:22 to market to people. 23:23 One is just direct mail. 23:24 Direct mail is sending a piece of mail 23:26 to people you don't even know. 23:28 In sending a piece of mail to people I don't know, 23:31 the typical response rate in those type of, 23:33 of mechanisms of reaching out to individuals is pretty much 23:37 one to maybe three percent on a on a good day. 23:41 So, we typically expect that if we sent out 100,000 flyers, 23:45 we're going to get maybe 3,000 in response back 23:49 on the specific offer that we're making. 23:51 The same goes to what these individuals do. 23:54 They send out a bulk of information 23:57 to as many people as they possibly can 23:59 in their list. 24:00 And typically, it has to be people that you know 24:03 or you're associated it with. 24:04 Because that's the way you are brought into the, the fraud. 24:10 The one thing that comes to mind is, Ransomware. 24:13 Have you heard of this? 24:14 Ransomware is an interesting thing 24:16 that has just popped up over the past couple of years. 24:19 But it's changed a little bit and you should be aware of it. 24:22 Watch where you go on the Internet. 24:25 Be very careful where you go. 24:27 And if you go to places you're not supposed to be, 24:29 that's one of the ways they target individuals. 24:32 So if you go to a site that you're not supposed to be at, 24:35 you get an email that comes into your system 24:38 saying, "Hey, we know...", 24:42 and they, they provide themselves as, 24:45 as federal employees 24:47 or part of the government policing society. 24:51 And they say, "Hey, 24:52 we caught you at this specific website, 24:54 and we know that that's not really supposed to be 24:56 and we're going to have to fine you 24:58 for what you've done. 24:59 But click on this link and we'll help you." 25:01 Well, you click on the link and what happens? 25:03 It takes you to, 25:06 it, while it opens up a virus in your computer. 25:09 And that virus locks down your computer. 25:13 And as it locks it down, up pops a message saying that, 25:16 "We'll, be able to help you 25:17 if you pay a fee of $500 on average." 25:21 Do you know how much money these people made 25:23 over the past couple of weeks alone? 25:26 They were averaging $2,000 to $4, 000 on revenue 25:30 on a weekly basis. 25:32 This thing started in Europe 25:34 and it's impacting many different people 25:36 because they get access to databases of information 25:40 of, of email addresses and the like. 25:43 So you get caught in this situation 25:46 where you know you've been someplace 25:48 that you're not supposed to go on the World Wide Web. 25:50 They targeted you 25:52 because somehow they've gotten information 25:54 because, again, 25:56 there's nothing hidden on the World Wide Web. 25:58 So where you go, what you do, how you act, 26:02 what you say in social networks, 26:04 is all monitored. 26:06 And then the moment you do something, 26:09 someone is out there trying to leverage that action, 26:11 and finding a way to get access to your cash. 26:15 This is called Ransomware. 26:16 These are things that you and I, 26:18 all need to be made aware of 26:20 because these are things that are going on all around us 26:23 and as we are not able 26:25 to protect our information as we should, 26:28 we should do everything we can to limit access to who we are. 26:32 Because as we talked about, people are targeting you. 26:37 They're targeting your information, 26:39 they're targeting databases. 26:41 They're looking at how you spend your money. 26:43 They're looking at different patterns in your life 26:45 so they can basically begin the process 26:49 of, of, of targeting how they talk to you. 26:54 And how they talk to you 26:55 is different than how they talk to everyone else 26:57 because it's information. 27:00 The information they have is detailed enough to tell you 27:03 how I can speak to a specific demographic. 27:06 They know your consumption patterns. 27:07 They know what you do. 27:08 They know how much money you make. 27:10 They know the fact that, 27:11 I want to win a lottery and make some a lot of money. 27:15 Here's a key. 27:16 In this specific fraud called Ransomware, 27:20 guess what the response rate was? 27:23 The response rate was 2.9 percent response. 27:27 So, regardless of how many people they sent it, 27:29 to which I believe they said they sent it 27:31 to well over 500,000 to 600,000 people, 27:35 2.9 percent of those responded 27:37 and were willing to pay the $400 27:40 to get access to their computer again. 27:43 And they never got access to their computers 27:46 because again, the 400 was a fraud to get their money 27:50 and they took it in to get a fix. 27:52 These are things you should know 27:54 as you Take It to the Bank. 27:56 God bless you. |
Revised 2016-03-28