Stop Worrying About Your Financial Advisor and Start Finding the Right One
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What is the main topic discussed in this episode?
Every Sunday we cover the week's tech news on This Week in Tech. Hi, this is Leo Laporte inviting you to join me, Lisa Schmeiser, Jason Heiner, and Owen JJ Stone. We're going to talk about how all those prices are going through the roof and who do we blame? We blame AI. Fable is back, it's expensive, and the Supreme Court does something good for a change. All of that this week on This Week in Tech. You'll find it at twit.tv and wherever you get your podcasts. Every Wednesday, we talk about AI and robotics on Intelligent Machines. Hi, this is Leo Laporte from the TWIT Podcast Network, inviting you to join me, Paris Martineau, and Jeff Jarvis. This week, our guest, Ian Bogoste. Jeff has written a new book called The Small Stuff about taking pleasures in the little things in life.
We'll also talk about new AI models from the big three. Well, if you include XAI, anyway. That's Intelligent Machines. You'll find it at twit.tv slash IM or wherever you get your podcasts.
Psychopaths, narcissists, Machiavellis, you could fairly describe these types of people as evil, along with scammers, pedophiles, and let's say murderers. Should we add financial advisors to the list? That's a question that came across our transom, and one that we'll tackle head on. Welcome to NerdWallet's Smart Money Podcast, where you send us your money questions, and we answer them with the help of our genius nerds. I'm Sean Piles. Later this episode, we'll be asking a really big question. Are financial advisors evil? Shoot, I mean, I certainly hope not since I am a financial advisor. But first, our weekly money news roundup where we break down the latest in the world of finance to help you be smarter with your money.
Our news colleague, Rick VanderKneife is back and he's talking with a guest about something truly evil, identity theft and scams. Hey, Rick.
Hey, Sean, it's great to be here. And yes, we're here to talk about scams and ID theft. The Identity Theft Resource Center released its 2026 Trends in Identity Report. And it's got some new ways in which people are getting scammed. And we all need to know what to watch out for. So last week, I spoke with Mona Terry. She's the ITRC's Chief Operating and Programs Officer. And here's our conversation. Mona Terry, welcome to Smart Money.
Thanks so much, Rick. Glad to be here.
I'd love to start by touching on some of the trends that you're seeing in your latest report. For instance, more than one in four victims who contacted the ITRC were now dealing with two or more simultaneous incidents. Can you walk listeners through how one compromised account can cascade into a full identity crisis?
One of the things that's jumped up is people saying that their devices have been hacked and then they're finding out that their email account was taken over or their social media account was taken over. They were in a data breach and it was their username and password. And now they're finding other accounts that with that username and password have been impacted. So it's no longer someone coming to us with kind of a one and done type scenario. It's really, hey, this one thing happened and now I'm starting to realize there's lots of other issues.
Okay, yeah, that touches on another thing that the report spells out, unauthorized device access up something like 78% year over year. Can you describe what this looks like and what the impacts could be?
Yeah, I think what's hard for us is when people come to the ITRC, they're like, my device has been hacked. My phone's been hacked. My computer's been hacked. But they don't know how. They don't know what's happening. So the biggest concern for us when people say their device has been accessed is what's available, right? So what pictures do you have stored? We know that there's certain apps that don't close automatically. So emails, right, email accounts typically don't close automatically, social media accounts don't close automatically. So it's really understanding what apps are downloaded on that phone, what victims have kind of open already, they don't log out of and then what is protected.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–7:34
2
What identity theft trends does the ITRC 2026 report highlight?
7:34–11:17
3
How can a single compromised account cascade into multiple identity incidents?
11:17–13:52
4
What does 'unauthorized device access' look like and how should victims respond immediately?
13:52–19:44
5
Why are complex identity-related financial impacts so hard to resolve?
19:44–26:23
6
What common red flags reveal account problem scams and job/employment fraud?
26:23–36:13
7
Is AI making identity crimes more realistic and scalable?
36:13–40:14
Speakers
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