Afford Anything

How Hackers Are Stealing Your Retirement $50 at a Time, with former CIA hacker Dr. Eric Cole

7 snips
Jun 13, 2025
In this engaging discussion, cybersecurity expert Dr. Eric Cole, a former CIA hacker and advisor to elite clients, sheds light on the shocking risks everyday people face from cybercriminals. He shares a harrowing story of a family scammed out of $1.3 million during a real estate transaction, illustrating the prevalence of seemingly harmless cyber threats. Cole discusses why small amounts of stolen money add up, emphasizing the need for everyone, not just big corporations, to adopt stronger security measures to safeguard their finances from increasingly sophisticated scams.
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INSIGHT

Small Theft, Huge Impact

  • Cybercriminals target ordinary people because they lack robust cybersecurity defenses.
  • They steal small amounts like $50 from many victims to avoid detection, called "death by a thousand cuts."
ADVICE

Secure Bank Info to Prevent EFT Theft

  • Banks often allow electronic fund transfers (EFT) of up to 50% of account balance without alerts.
  • Protect your account number and password rigorously to prevent large undetected withdrawals.
ADVICE

Beware Small-scale Ransomware

  • Ransomware attacks on individuals often demand small amounts like $300.
  • Reporting to police rarely helps; prevention and awareness are crucial.
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