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

Data Breach Check

James Shack(ell) FCA Register

Looking for help with Financial Planning?

Risk Warnings & Disclaimers

Capital at risk. Crypto investments are high risk and largely unregulated. You should not invest unless you're prepared to lose all the money you invest and should not expect to be protected if something goes wrong. This video does not constitute personal advice. We do not take any responsibility for third party websites and content we may link to from this video. Issued on behalf of Nova. Nova is a trading name of Nova Wealth Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 778951) and is a limited company registered in England & Wales (10739796)

James Shack™ property of James Shackell
Copyright © James Shackell 2024. All rights reserved.
The author asserts their moral right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this channel and any video published on it.

00:00 Intro
01:21 Fred & Jemma
06:42 How it Happened
08:57 AI Voice Scam
14:06 Deep Fake Scam
15:47 Why Now - YouTube Scams
18:31 How To Protect Yourself Online

[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.

[daviddunton]

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.

[adambritain]

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.

[connclissmann]

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.

[chazzdposh]

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

Thank you.

[getreal]

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

[jacobprice]

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.

[finnle]

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

[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.

[amoosebum]

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

[markfrancis]

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.

[olliecook]

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!

[PaulB-qd]

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!

[davem.]

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.

[edwinstar]

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.

[bitsandblocks]

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.

[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.

[lornaprince]

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.