Announcer: Welcome to Business Life 360 with Kristi K., where we get to know thought leaders and innovators trends and impact in the world of business, and we see firsthand how business and life have evolved and now helping us all learn, lead and grow is our host, Kristi K.. Kristi K.: Greetings, though, welcome to Business Life 360.

I'm your host, Kristi K., meeting you at the intersection of business and life.

To that end, we live in a world where many things may feel unsure and business in life, financial security and investments in crypto and beyond.

Cybercrime, home and family safety.

Health concerns in a global pandemic all contribute.

As we do here in Business Life 360, we dig deeper into research that identifies some of these top issues that we as a nation face.

And tonight we'll gain expert knowledge to feel safer and more secure.

So kick back, relax and join me now.

This is Business-Like 360. Business 360 with Kristi K. is made possible by ProMedica, a local nationally recognized not for profit health care network that has a strong commitment to clinical excellence, providing safe, high quality patient care and addressing social issues that impact health.

The John B and Lillian E Neff College of Business and Innovation at the University of Toledo.

Developing lifelong leaders for the world of business.

And by the Greater Toledo Community Foundation, also by viewers like you.

Thank you.

Kristi K.: As we talk about feeling secure in an unsure world, we simply can't avoid the conversation of crime and safety, police violence, health and home family and personal security issues for a decade.

An organization called Safe Wise has been researching the state of safety and home security in America.

Experts from the organization compiled the results of their studies, offering advice for future protection and security in our lives.

Here to talk with me about what Americans are most concerned about at this point in time and what we can do to feel more secure and safe is Rebecca Edwards, lead technology and safety expert for safe ways.

Rebecca, welcome to Business Life 360.

Rebecca Edwards: Hello.

I'm so happy and excited to talk about this important topic.

Kristi K.: You have been an expert in this area for a long time and involved in this particular study on the state of safety in America for years.

Would you give us an overview of the goal of the study and what your mission is and what you hope to kind of learn and convey to those of us who are really interested in this topic?

Rebecca Edwards: Well, souffles, our goal is to help people have the tools and resources they need to create a safer life at home and in their communities.

The State of Safety report gives us insights into how people across the entire country feel about crime and safety.

So over the past three years, we've talked to more than 15,000 Americans from every single state to find out how safe they think the world is.

And then we compare that to actual crime statistics and what people are doing about their safety and security to see how well our perceptions match up with reality.

And then we look to close that gap.

Kristi K.: As an example.

Talk to us about what are some of these specific issues that are keeping Americans awake at night?

Rebecca Edwards: Yes.

one of the biggest things that has come up an increased year over year in gun violence is something that's definitely top of mind for Americans.

This was the first year in our open answers on a report that we had multiple mentions of people talking about hearing gunshots in their neighborhood, incidents happening close to home.

So that is definitely something that is weighing on the minds of Americans right now.

And secondly, package theft porch piracy has become a huge concern, and it makes sense because it is one of the only crimes out there that can happen to any of us and can happen repeatedly.

So it's very interesting.

So there's a pretty good mix between violent and property crime concerns out there.

Kristi K.: Are there others on that list of, say, top five to ten concerns that we, as Americans, have.

Rebecca Edwards: Among the top ten things that people have on their minds?

Your property crime tops the list, which makes sense because property crime happens more often than violent crime.

Right after that, violent crime is the second most worrisome thing.

And then we move into the COVID 19 pandemic.

Obviously, it's something that wasn't on people's minds in 2019, but it's been on our minds heavily for the past couple of years and personal and family security, cyber security, things going on in the government, civil unrest.

And those are things that are coming up more often, along with financial, security and environmental calamities.

That's something that's really starting to weigh on people's minds more.

So Americans concerns are kind of following the headlines in a lot of ways.

Kristi K.: Absolutely.

That is so true.

Now were there things as you went through this latest study on the safety the of the state of safety and security in America that surprised you?

Rebecca Edwards: one thing that surprised me in our most recent report is that the general the number of people that are worrying about the crime and safety on a daily basis that feel highly concerned actually went down year over year.

And we found that to be really surprising because things have been escalating around us so much.

It feels like that people are actually feeling a little less panicked, I guess, which is a good sign.

But we found that even though seven in ten Americans think crime is on the rise across the board and crime is actually has always been decreasing for the past several years, and that's good news.

So we try to balance what people are worried about with the good news that's out there.

And even though people are concerned about these things, very few are doing anything about it, like even in the states where people tell us where the highest concern when you might have seven out of ten people highly worried about safety every day.

You usually only have about three and ten people that are actually taking measures to feel more protected personally and on their property.

Kristi K.: You know, that's an interesting point.

So the kind of the anxiety and the worry and concern we have doesn't always lead to actionable items and ways to keep our home safe.

And so with that in mind, give us some suggestions for ways that we can begin to protect ourselves at home.

Rebecca Edwards: Yes, I think that the number one key when it comes to safety is to be proactive.

I mean, I want people to take actions before something bad happens, and most people buy a security system at a security camera, at a deadbolt after there's already been a break in or a burglary that's occurred.

And so you're kind of like, no, you're putting a Band-Aid on the problem instead of trying to not make that happen.

So I think, you know, starting with, if you want to take active security measures to feel better, improving your locks on your doors is an easy thing to do.

Adding a security camera, I think all you need is even just a doorbell camera.

And that's something that is going to give you eyes and ears and a voice on your home.

You'll see who's approaching your home.

You can talk to them, you can tell them to buzz off, and it gives you that reassurance even if you're across town at dinner.

You'll be able to see someone coming up on your porch and that they're affordable.

They're simple to use, and I think that's a great entry point to start.

And if you're not ready for a full blown home security system, but on the other end, there's things you can do that don't require buying anything at all or adding anything.

Pay attention to who belongs on your street and in your neighborhood.

Get to know the cars that belong there and who are your neighbors.

This is something it used to just be a no brainer that we got to know our neighbors.

But these days, people don't get to know their neighbors as much.

But knowing who belongs in your neighborhood, who belongs in your street not only makes you aware if there's something out of place.

But it forms a partnership and an alliance so that when you're working together with neighbors that you trust and they can trust you, you're all going to be doing a better job to support and help each other and your pets and your kids and everyone feels safer and be safer where you live.

Kristi K.: Putting this all in perspective and regarding some of the top safety and security actions that we can all take, what suggestions do you have as part of safety wise?

And the advice and the research that you've done?

Rebecca Edwards: So the number one thing that I like to talk about when we're talking about this study, because the study is about how we feel and how we're perceiving safety around us.

I like to encourage people to monitor your intake of bad news.

I think we're inundated these days everywhere.

It's not just that I'm watching the news at eleven every night, it can get a text message from somebody sharing something with me.

I could get an alert from my mom on Facebook telling me some scary thing that she read.

And so I think we can alleviate our Zayani by monitoring and taking control over that information that we're taking in, and that's going to help us feel less anxious.

And beyond that, again, taking proactive actions.

Know your surroundings, lock your doors.

The majority of burglaries happen with someone walking through your front door or your back door.

They don't need to break a window or kick the door, and we leave the door open for them and closer windows at night and lock them.

Pay attention to your surroundings.

Don't drive or walk around with earbuds in your ears.

Tuned out to the world around you.

If we can't be aware and present where we are, we are an easier target and we're more likely to be chosen as a victim.

And it's never the victim's fault, but there's things we can avoid doing that will make it less likely.

Kristi K.: Mm hmm.

And I do like what you're saying sort of as personal safety, making that top of mind when we're by ourselves, when we're at night, when we're walking, in parking lots, when we're alone on a sidewalk somewhere.

Those are the kinds of things we need to be thinking about and keeping top of mind.

Rebecca Edwards: Absolutely.

Kristi K.: Mm-Hmm.

So Rebecca, thank you so much for being a part of Business Life 360.

We appreciate your knowledge and your expertize as it ties to personal safety, home security, all of the above.

Thanks so much.

Thank you.

Dr Colin Gill Strap is an expert in financial markets and institutions, as well as hedge fund trading strategies.

And he's here to talk with us today on Business Life 360 about cryptocurrency.

Dr Gill strap.

So much has happened in the world of investments and in our financial markets right now, and so we're trying to get a better understanding of what it's like in the crypto world versus investing in real money.

So give us an understanding of what this crypto world is all about.

Dr. Colin Gilstrap: Sure.

So let's just take cryptocurrency at face value.

We all understand what currency is right.

We normally trade in US dollars for everything that we do.

And if we go to another foreign country, we might trade in pounds or in francs or in euros now.

And so, you know, cryptocurrency itself is just another currency that people will trade goods and services for.

And it has some properties of a good currency.

In fact, $15 trillion of crypto were traded last year in exchange for goods and services.

So it is becoming more broadly accepted as a means of transacting.

Kristi K.: So there are different types of cryptocurrency, different flavors, if you will.

So give us an understanding of some of the most common and perhaps brand name types of crypto.

Dr. Colin Gilstrap: Sure.

Bitcoin is the most by far the widest recognized cryptocurrency.

We also have things like Ethereum, which are quite popular too.

Anyone can sort of start their own cryptocurrency, for instance, there's cryptocurrencies revolving around internet memes.

Kristi K.: So I'm an investor, let's say, in the stock market, in gold incorporations, where I know what the cash flow is more predictable.

Why on earth than what I want to go into the crypto world.

Dr. Colin Gilstrap: In the long run, I see, you know, crypto staying around as a medium of exchange for people that you know, want to trade outside of the normal financial institutions, right?

And crypto does have a property that in the limit, the inflation rate is set.

So there's no federal, there's no Federal Reserve Bank that controls how much crypto is produced or destroyed, causing inflation.

You know, crypto, we know in the limit that the inflation rates around 1%.

Kristi K.: So I invest in crypto today.

I could wake up tomorrow, and I could either be extremely rich or maybe not so much.

Dr. Colin Gilstrap: Yeah.

And that's why I'm skeptical of crypto as a currency right now.

Because if I told you tomorrow that your US dollar bank account would either be doubled or have you probably wouldn't sleep well?

Kristi K.: Exactly right.

And so therefore, as you're talking about maybe the gen Zeus or the the 20 somethings, that might be a smarter move for them to take.

Maybe some of that discretionary income if they do have some and put it into a crypto currency type of investment?

Dr. Colin Gilstrap: Yeah, I mean, I see this as what I might call an alternative asset class, right?

So if you have your normal mix of stocks and bonds and traditional assets and you want to take a little more risk, that's probably, you know, is maybe 5% of your portfolio, right?

But but certainly a high risk, high return sort of asset in your in your portfolio.

Kristi K.: So, Colin, walk us through a bitcoin or crypto transaction.

Can you do this at a broker's, for example?

Dr. Colin Gilstrap: Yeah, certainly most major brokers are now allowing you to purchase bitcoin.

And in fact, the Chicago Mercantile Exchange has futures traded on bitcoin as well.

So you know where you would go to get exposure to bitcoin is, you know, most brokerage houses.

You could also buy, you know, companies that have a business model revolving around bitcoin.

Kristi K.: So as we talk about a transaction, if I wanted to buy one bitcoin today, what would that cost be?

Dr. Colin Gilstrap: Around 66,000 us?

Kristi K.: And what if I said, OK, I'm feeling the volatility here from an investment standpoint I want out, is it easy to get out of the market?

Dr. Colin Gilstrap: Yeah, yeah.

It's pretty liquid for small transactions.

They can be done quickly.

Larger transactions, you know, if you're trying to move, you know, 100 bitcoin, you're going to have problems finding buyers at that level.

Kristi K.: Something else that we hear a lot about is the illegal transaction world and sort of that dark market that may be occurring as we look at transactions in crypto.

Is this a thing?

And do you see this as going forward, maybe a new market niche in terms of crypto?

Dr. Colin Gilstrap: Sure.

Yeah.

I mean, crypto originally, you know, in the mid 20 tens was primarily used for gray market, the black market transactions, right?

So buying illicit goods and services.

And but, you know, this past year, with the $15 trillion traded, only about 1% of that has been estimated to go into bitcoin wallets that are associated with illicit transactions Kristi K.: As you know, the topic on this show is feeling secure in an unsure world.

So as we look ahead with investing in cryptocurrency versus real money, give.

Some thoughts on going forward, do you feel this is a good idea, is our money safe?

How should we approach this crypto world?

Dr. Colin Gilstrap: Sure.

If I were giving advice as far as retirement goes, you know, I don't think this belongs in someone's retirement portfolio.

I wouldn't ask you to go buy and hold euro in your retirement portfolio.

It's, you know, it's not a normal piece of the puzzle, you know?

But you know, if for entertainment value and speculation, I find it interesting.

Kristi K.: So Colin, is crypto here to stay?

Dr. Colin Gilstrap: You're absolutely right.

So there's always going to be demand for a currency that sort of skirts, money laundering and skirts, you know, the federal government's observation of what you're buying and selling.

Kristi K.: Tactical and gill strap.

Thank you so much for your expertize.

It's been really eye-opening and enlightening for those of us who are looking to get more information on the crypto world.

Dr. Colin Gilstrap: Thank you.

Kristi K.: We'll see more of Dr. Gill strap on my quick hits in a bit.

But now, while we're sitting here at this moment, malicious cyber criminals are busy attempting to hack into corporate databases and our personal accounts rather than feel anxious and unsafe.

We have an expert here with us to arm us with the information we need to keep our businesses and personal assets safer in a world of cyber crime.

He'll tell us what we can do to mitigate attacks on our corporate and personal accounts.

Gregg Bach, vice president of KeyBank Corporate Investigations, is here to give us an understanding of what's happening in the cybercrime world and to provide us with the steps we can take to better protect ourselves, our accounts, assets and businesses.

Gregg, welcome to Business Life 360.

Gregg Bach: Well, thank you for inviting me.

Kristi K.: So Gregg, you've spent 30 years investigating cybercrime and fraud as we talk about the current state of affairs in the cyber world categorically.

one of the primary cases that you find yourself and banks investigating.

Gregg Bach: I think currently we're running into a lot of cyber crimes as as we've been discussing.

Primarily, we're running into ransomware.

We're also seeing quite a bit of identity theft and account takeover, which is a huge issue.

Kristi K.: Gregg, you mentioned ransomware.

Give us a definition of what that is and how third parties and cyber criminals can gain access to business databases and can actually shut it down.

Gregg Bach: What ends up happening is a third party on the various third party will gain access to a firm's computer systems, and generally they'll watch the activities within that organization for days, weeks and often months.

And once they've understood the data structure within the company, they will lock up that data and demand ransom to be paid in order to release the data.

Kristi K.: And this can happen to individual consumers as well.

Correct?

Gregg Bach: Yes.

In fact, that's really where the roots of ransomware became started from is individual people were having their personal computer hacked and their personal, their family photos, their online banking, et cetera, were locked up.

And these third party fraudsters were demanding ransom in order to get your photos back, your music back, et cetera.

Obviously, they've kind of moved into a more lucrative target.

Kristi K.: From a day to day operations perspective in a corporate environment.

What actually happens when a company has been hit with ransomware?

Gregg Bach: And that's a very valid point.

When this third party, when this when the criminals access a firm's data, they're not looking just for the ransomware, they're looking for additional information that they can use and that they could post on the dark web or that they could manipulate to extract additional funds from not only the company but its employees or principals within the firm.

Kristi K.: You mentioned the dark web.

What exactly is the dark web and what happens to all of that information that's been taken from you if you happen to fall victim to a cyber crime?

Gregg Bach: The dark web is a a another web out there that allows criminals to exchange data and they will exchange.

They will sell the information.

They will share the information in exchange for additional data within the criminal community.

There's experts there, ransomware experts.

There's identity theft experts.

Each one.

Each group has their own specialty per se, and they're very quick to share data that they've extracted with other groups.

So unfortunately, once an individual has been compromised, they have to be prepared for some degree of recidivism that they may be targeted again.

Kristi K.: How do we, as business owners and consumers, actively protect our businesses and our personal assets from fraud?

Gregg Bach: And I think the first thing they have to do is follow simple industry.

Suggestions and it's out there are strong passwords are very important.

Everyone within a firm should have have strong passwords in those passwords needed to be changed frequently.

The latest and greatest software version, whatever manufacturing or professional software that they use, firm's software developers spend a lot of money in patching holes and ensuring that their software is safe.

So it's important to the end user, the company or the firm that's using the software.

They have the latest and greatest version.

Kristi K.: When we find an antivirus vendor and we want to download their app onto our devices.

How can we trust that this vendor is actually a reputable vendor and that a third party vendor that's infiltrating or hacking our home and business computers, and that the data that goes along with that is also being hacked?

Gregg Bach: I think the one thing is don't trust the pop up.

Don't trust the email.

If you if you are looking for.

Software or malware protection?

Use one of the big names your internet service provider may offer a discounted version of their favorite system that software vendors will be working with the ISP in order to create a detection tool, tools that are unique for that, for that environment.

Kristi K.: So how important is it to validate who we're dealing with via email?

For example, if my CFO says, OK, you need to wire some money to a global operations somewhere overseas, should I trust that.

Gregg Bach: The way around that it's quite simple.

It should be a policy within the firm to verify by phone.

What what transpired.

Kristi K.: That is great information and many great actionable steps that we can take to stay safer and feel less unsure in this world that we're living in now.

So thanks so much for your cyber insight that you've shared with us and our business life 360 viewers and listeners.

Thanks so much, Gregg.

Thank you.

When you're on Business Life 360, we do something called quick hits so that our viewers get to know something a little bit more about you or your topic.

So here we go.

Dr Colin Gill Stepp, Are you ready for this?

Sure.

OK, today's quick hits is about crypto.

Let's go.

Number one, do you own any crypto?

Dr. Colin Gilstrap: No.

Kristi K.: OK.

Number two the least understood thing about crypto.

Dr. Colin Gilstrap: That anyone can make their own coin.

Kristi K.: The number one mistake beginners make when buying crypto.

Dr. Colin Gilstrap: Not understanding what they're getting into.

Kristi K.: True or false?

Invest only in what you can afford to lose when it comes to crypto.

Dr. Colin Gilstrap: That's true.

Kristi K.: Would you rather bet on a football game or on crypto.

Dr. Colin Gilstrap: A football game?

Kristi K.: Oh, interesting.

If you started your own crypto, what would it be called?

Dr. Colin Gilstrap: Rocket Coin?

Kristi K.: Awesome.

I love it.

Thanks so much, Colin.

It was great to have you on business life.

Dr. Colin Gilstrap: Thanks for having me, Kristie.

You bet.

Kristi K.: Feeling secure in an unsure world means addressing cyber and home security.

Understanding our investments and what decisions best match our current and future portfolio needs.

And proactively mitigating cyber and criminal risks.

Keeping this knowledge top of mind allows us to make smarter choices for our businesses, our families, our lives.

That's a wrap on this episode of Business Life 360.

We are so glad you joined us to learn more about the ever evolving worlds of business, innovation, leadership and life.

I'm Kristi K. reminding you there's always more room to learn, lead and grow.

We'll see you on the next business life 360.

Announcer: Connect with Kristi K. on LinkedIn at Cristi K. Hoffman and hear the Business Life 360 conversation on FM 91 on Thursday mornings.

To watch previous episodes and more, visit our website at W.G.

Ted Morgan B 360. Business like 360 with Kristi K. is made possible ProMedica, a locally owned, nationally recognized, not for profit health care network that has a strong commitment to clinical excellence, providing safe, high quality patient care and addressing social issues that impact health.

The John B and Lillian E Neff College of Business and Innovation at the University of Toledo.

Developing lifelong leaders for the world of business.

And by the Greater Toledo Community Foundation, also by viewers like you.

Thank you.