Yet Another Example Of "The Dark Side" Of AI :-( | Your stories | Discussion forum

and again META and Facebook are the bad guy, as they collect the fake criminal Ad revenue, but won't take down the fake Ads.
and it's all going to get 1000x worse from here on in.

despicable.

consider that the scam artists could have picked a talking head with a better track record

this scam continues on instagram.

InterestThis said
....
The internet is literally a playground for online criminals, they have infinite opportunities to steal. No question, the banks and others want to suppress awareness of how bad the problem is.  

Who are these "others" that want to suppress awareness of how bad the problem is?

FastJonny said

Who are these "others" that want to suppress awareness of how bad the problem is?  

Just in general, businesses want to maintain confidence in their services, and make it seem like everything is ok. For a vulnerable senior for example, they need to bank in person. Some people are still barely comfortable with an email thread, they cannot spot a fraud, or spoof.

I just tried to help a group of seniors with digital literacy. I was absolutely shocked that most of them CANNOT manage their phones, tablets, passwords, 2-factor authentication and the rest of it. Its a total disaster and chaos.

Was actually planning on helping some of them do Wealthsimple and things like that, but totally cancelled that idea quickly. Horrible idea. They are better off with their basic Royal Bank managed fund, at least it probably won't get robbed from them.

The advice is to keep their life savings off the internet.
Use a basic low-limit credit card, and then pay bills at the bank in person. They cannot tell the difference with website spoofing, and everything else.
People who cannot manage their phones or computer, better keep their life savings in the old fashioned manner, like when they were young, a bankbook and paper.

But if a senior goes into a bank, and won't listen to advice, that is something else. If grandpa decides to go online and buy 750K of fake GIC's, no one can stop them.
Perhaps new laws are needed for a longer cooling off period of holds for seniors, but most people would probably be against it.

HermanH: I quite agree that anything on the web is probably a scam.

And I'd add that anything that comes to you, instead of you seeking it out, is probably a scam. Yes, that includes cold calls from security salesthings.

I'm in my seventies, and am regularly amazed that scams I read about in my high-school days are still practised regularly, with or without on-line components. The exception in my experience is the "grandparent scam," which seems less than a decade old.

Assorted versions of the "bank inspector" scam are the oldest I can remember, including a cute one where a stooge would visit the mark to talk about the alleged fraud and then ask to take the phone when the bank called. They'd then say, "Yes, that's fine. Everything is okay."

But the call would have been from the mark's bank, asking if it was okay to cash a large cheque, which would have been fraudulent.

Assorted other "Cash this cheque and give me the money" scams go back decades, too. And the fake cheque for an amount larger than what someone owes you, too.

Scams where someone comes to pick up cash or cheques are easily thwarted by having the cops and scammers invited over at the same time. Unless one is an American, of course, in which case they might probably opt for the "see my gun?" method...

InterestThis, interesting and kinda funny to hear about the total chaos, etc, I'm not surprised as most people I know barely seem to know how their tech works, aside from their few regular functions and techniques. And I barely use tech and even I can see that.

I agree with those who say doing all banking physically at their branch is the best idea for vulnerable seniors who have limited financial dealings. And tell them to follow the bank's advice when it comes to taking money out to give to someone. The fact that a few people have been scammed because they ignored the teller's or other bank employee's advice doesn't negate that it's still a good idea for most people.

Pythagoras said
Many seniors (like my mom) have mobility issues, and can't physically go out on their own and visit their branch. So I don't think that's a solution.

I do all the banking for my mom. But many seniors don't have someone trustworthy to help them or to do their banking for them. So that's not a solution either.

I don't know what the solution is, but ultimately I think it has to lie somewhere with the banks.  

I agree with you 100%.
We should NOT be forced to use 21st century tools because some young punks think it is in and 'modern'.
On-line world might work well for those born with the phones up their behinds but until we still have other 'normal' people around they should be taken care first as they brought up those young to life.

Even if you try to rely on 'trusted person' greed is what takes over sooner or later. 'Oh, that old nagging hag has 500k in the bank account I control and have access to, she never checks her statement so why should I not nip a bit once in a while. Anyway it will be all left to me so why not get a hold of it sooner?'

Going to a disappearing bank branch is NOT a solution as many seniors do not or do not want to drive anymore. And definitely cannot walk kilometers and kilometers to a local branch.

Simple solution is to be provided by a Bank claiming to 'care' for their customers (as they advertise all the time): create a mobile banker team. Free service or for nominal charge (few $ a visit). Reliable, trustworthy, pleasant visit by smiling human will be win-win for both sides.