Cybersecurity, Student Loan Forgiveness And What We Can Learn From The Equifax Firing Event | Ep. 156

• Tiffany opens late due to attending a cybersecurity conference for small businesses hosted by North Carolina A&T. She shares fresh insights from the event before moving into planned financial topics.

• Key statistics shared: fraud increased 45% in 2020 generating $3.3 billion; children frequently targeted via SSN; phones can be scanned in pockets/purses; heart devices can be hacked; 60% of small businesses fail within 6 months of cyber attack.

Hackers are lazy. They prefer the easy route. So make sure that when you're looking at your systems and stuff that you layer everything.

• Additional insights: Target's breach occurred through HVAC system; blockchain is a methodology not a security product; there is no cloud, just someone else's computer.

• Recommendations include freezing credit at all three bureaus, protecting children's SSNs, using phone cases that block data scanning, and layering security measures. Tiffany mentions a recent episode walking through credit freeze steps.

• The application is now live at studentaid.gov. The process is simple: first name, last name, date of birth, email, and phone number. Tiffany encourages listeners to apply if they qualify.

• Equifax used its Work Number product to identify and fire 24 employees with conflicting full-time second jobs. The employees violated company code of conduct and outside employment policy.

Make sure you know what you signed when you first get on. Also know what's in the employee handbook.

• Key lesson: Know your company's policies before taking second jobs. Some companies encourage side work while others prohibit it. The Work Number database includes data from 2.5 million companies.

• Tiffany recommends small business owners conduct cybersecurity audits. Free cybersecurity health checks available through NC A&T starting spring semester. She reminds listeners to catch Finance Friday Live every Friday at 12 PM EST.