at Fox Business we are invested in you
and want to warn you about a phone scam
that's fooling even those folks who
usually know better
hackers are now using texts to break
into your bank account first luring you
in with claims that there was a
suspicious charge on your account
something like that and getting you to
send them a verification code giving
them total access let's bring in
cybersecurity expert Morgan right so
Morgan the fact is is that they send you
these texts from numbers that are really
Bank phone numbers right right they're
spoofing this this is something that's
been done before I showed on fox one
time fox business how you could even
spoof the white house number you call a
service so these guys are doing it what
it doesn't lowers the barriers and
lowers these thin abyssion say oh this
must be true because it looks like my
banks numbers then the next thing you
know you're giving them a PIN number and
they're using that to read your account
and take all your money so it's it's how
they're using these human techniques to
avoid and bypass the very sophisticated
and techniques of fraud control using
artificial intelligence so we're back to
going after the humans again so if these
tactics are getting more clever what are
a couple things that I should do or not
do to avoid having this happen to me do
what Alfred a girl and posted one-time
said believe a one-half that you here
and nothing that you see so don't
believe anything and what you need to do
if when you get a note like that is to
go back to a trusted site go back to the
website itself or call the number you
find the number hang up on them and call
them back if it's really a fraudulent
thing it'll show up in your inbox if you
know with your credit card or your
banking site but take a second measure
at this point in time just because
somebody calls and asks for information
like that I wouldn't necessarily trust
them look there there are simple rules
for all this if you get a call from the
IRS that says you owe 3000 bucks if you
don't pay them through Western Union
you're going to jail if you get a call
from somebody says you won the Powerball
lottery but send them five grand fee
first there's something very wrong
just it's a simple rule don't trust
anyone verify ten times over because why
there's still ton of bad guys out there
and all they're interested in doing is
going into your pocket and your wallet
taking whatever they can and you will
never find them you know absolutely and
the reason these things keep happening
is
because they keep working people say
well the IRS the IRS look I can't even
get the IRS on the phone for question
about my quarterly taxes there's a very
little chance they're actually calling
you to follow up on $3,000 you just
don't meet their radar but guess what
we're going after older populations or
people who are new to this country just
recently you know came to America you
know just recently became American
citizens they don't understand that we
are not a debtor nation you cannot go to
jail for not paying your personal taxes
morgan is jonathan holding what a pivot
to a different topic but an important
topic lawmakers are expressing concern
over a very popular Chinese owned video
app it's called tick tock they say it
could be actually a national security
threat now this is extremely popular
especially with young people what do you
make of this this is tick tock a
national security threat as a lot of
lawmakers are alleging look a while back
China actually have the after you know
member when everybody said submit your
picture and we'll show you what you look
like 10 you know 15 years from now that
came out of China even China was so
worried about the privacy they cut it
down tik-tok what we're concerned about
is what kind of information are they
collecting it's all going back to China
by the way there's another reason to is
tick tock was one of the preferred
mediums now for people like a
al-baghdadi and other Isis people to get
a terrorist you know inspired videos out
there too it was a very catchy way to
get people so not only from a terrorism
standpoint but I think from a privacy
standpoint what information you're
collecting and look I will tell you this
right now nothing good happens by
sending my personal data over to China
there is no fundamental reason why my
personal information needs to be in
China for any reason whatsoever so tick
tock is maintaining that the servers are
actually in the United States and
Singapore as a backup and that they have
no operations or they're making some
claim about not really being present in
China does that mean anything should we
just completely disregard those claims
these are the same people if you try and
search for tandem and square inside
China doesn't happen they're working
with Google to censor search results so
yeah I put zero stock and what by the
way China is one of our biggest
adversaries right now not only in
cyberspace Macmillan Tara Lee and so I
believe noting that China tells me going
back to Edgar Allan Poe can I follow up
it not only I mean if you put stuff out
there on tick-tock they have it but can
they come back at you through this
app or whatever and which I don't use I
mean I guess it's like Instagram or
saying but can they come back into your
own devices and find out more
information about you than you're
actually volunteering that's a very good
question and a lot of times what happens
is people list don't realize that when
they sign up for these agreements they
don't really realize how much
information and what you allow them to
have access to is that your contact list
is that your recently called phone
numbers things like that so there's a
lot of things these apps can do if you
give them permission and it's installed
on there now when they go on to the App
Store at Apple and the one on Google on
Android they look at it from a security
standpoint but if I agree to give you
every piece of information including my
bank information and PIN number you know
that's really not Google into Apple's
fault that's the consumers fault but
these things are taking our information
we don't know what they're taking is
people would rather have the app than
spend the time to learn about what the
app does very quick last question got to
be a quick answer but bite dance that's
the name be yte dance is the name of the
company that owns tik tok it's worth
about seven billion dollars actually
they say eventually may be worth 78
billion but do you think I get the
impression that they're actually tied in
with the government with the Chinese
government true or not there is no
company in China that does not have the
Chinese government does not have it
hooks into them from an intelligence and
an information standpoint one way or the
other they're part and parcel of the
problem Morgan right good to see you my
friend thank you very much appreciate it