February 20, 2024

Financial Security and Fraud Prevention with Kathy Stokes

41 minutes

What if you received a call or email claiming to be from the IRS, demanding immediate payment for back taxes or threatening legal action? How would you react in a moment of heightened emotion and urgency? In this episode of Financially Ever After, Stacy Francis is joined by Kathy Stokes, who brings a wealth of knowledge and experience in combating financial crimes. As the Director of Fraud Prevention Programs at AARP Kathy brings unique insight into the tactics used by criminals, the importance of education in fraud prevention, and the resources available to protect oneself from scams. Discover how to empower yourself against fraud and safeguard your financial well-being.

Understanding that the IRS will not initiate contact through calls or texts unless there is an existing issue is crucial in avoiding potential scams and protecting personal information.

With a significant 400% rise in cyber crimes and fraud reported in recent years, it is more important than ever to stay informed and vigilant to safeguard against financial threats.

AARP's Fraud Prevention Program, led by Kathy Stokes, plays a vital role in educating people about the risks of financial fraud and providing support to combat these crimes.

Eight out of 10 women change financial advisors within a year of their spouse's passing, highlighting the importance of thorough research and due diligence when selecting a new advisor to ensure financial security.

Those facing emotional vulnerability, such as widows, are often targeted by fraudsters due to their heightened emotional state, emphasizing the need for awareness and protection.

Recognizing red flags like unexpected contact, urgency, and heightened emotions can serve as warning signs to identify and avoid potential scams, empowering you to protect yourself.

Regularly monitoring credit reports and implementing credit freezes are proactive measures that can help prevent identity theft and financial fraud, ensuring greater security and peace of mind.

AARP's Fraud Network Helpline, staffed by trained volunteers, offers valuable support and guidance to those facing potential fraud, providing a safe space to seek assistance and report suspicious activities for better protection.

Resources

Kathy Stokes on LinkedIn | AARP | AARP Fraud Watch Network

AARP Fraud Watch Hotline: 877-908-3360

Stacy Francis on LinkedIn | X(Twitter)

Email: [email protected]

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

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By Stacy Francis

4.8

3939 ratings