Phishing
Phishing is a fancy name for an old game. Somebody poses as a trusted entity and attempts to get sensitive information out of you -- your usernames, passwords, credit card details, and more. For some reason, when it happens on the Internet, it merits a new name, and that name is phishing.
A lot of these attempts are clumsy and obvious while others are more elaborate. Someone may pose as your bank, and ask you to confirm your password. They'll usually try to bypass your ability to think rationally by telling you that there's some urgent problem that needs to be resolved by giving them your password right away. Other phishing attempts include fake commerce sites, like the rash of fake websites that are stealing credit card info by pretending to sell tickets to the Rio Olympics.
And maybe you aren't foolish enough to click on those emails or those fake sites -- but again, you don't have to be. All it takes is for someone at the bank to be that foolish. An embarrassingly basic phishing scheme directed at 100 different banks around the world wound up siphoning billions of dollars - and that's with an attack that actually required the bank employees to be stupid enough to open a suspicious file.
Did you know...
- When it comes to counterfeiters, North Korea are pros. They have gotten so good at counterfeiting American currency (particularly the $50 and $100 bills) they their fakes are known as "superdollars." They require specialized Federal Reserve equipment to be identified. There are $45 million worth of North Korean fakes…that we know of.
- Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
- It's an understatement to say that the odds when playing the lottery are not in your favor. You are statistically three times more likely to die in a car accident while driving 10 miles to buy a lottery ticket than you are to actually win. Even more astounding, over half the tickets in an average lottery draw are bought by only 5% of the participants.
- Do you know what the lifespan of U.S. currency is? The higher the denomination, the longer it stays in circulation. Both $50 and $100 bills last 9 years. The $20 sticks around for 4 years. $10 bills circulate for 3 years. The $5 bill has a 2-year lifespan, and the $1 bill only lasts around 18 months before being retired. Coins last around 30 years.
- Paper money is actually pretty heavy. One pound would be worth $454 in $1 bills. That means $1 million comprised solely of $100 bills would weigh over 20 pounds. Those suitcases filled with money in movies must be hefty to lug around all that paper money. If you plan on robbing a bank, you better bulk up!