Hello, my name's Mrs. Hopper, and I'm really excited to be working with you in this lesson from our financial education unit.

In these lessons, we're going to be exploring money, how it makes us feel, how we can make good choices about what to do with our money and how we can make it safe.

So if you're ready to learn a bit more about finance, then let's make a start.

In this lesson, we're going to be thinking about keeping money safe.

We're going to be identifying ways to keep money safe and things that might be trying to take our money.

We've got three key words in this lesson.

Fraud, scam, and phishing.

You may have come across those words.

Let's just rehearse saying them before we look at what they mean.

So I'll take my turn, then it'll be your turn.

So my turn.

Fraud, your turn.

My turn, scam, your turn.

My turn, phishing, your turn.

Three quite important and quite negative words there.

Let's really explore what they mean.

So fraud is illegal activity, which deceives or cheats people in order to get money.

It's a really serious thing.

The police would be involved and people would have a criminal record if they were found to being fraudulent or behaving in a fraudulent manner.

A scam is a story or a scheme used to gain money dishonestly.

Scamming is a crime and it can take place over quite a long period of time.

And phishing is where emails or messages ask for information such as passwords, credit card, or bank numbers in order to steal money.

Phishing attacks are clever.

They often look like they're from people or companies that the person knows.

So three really serious things that we're going to be thinking about in our lesson today.

So look out for them.

So this is all about keeping money safe.

And in the first part of our lesson, we're going to be thinking about keeping money safe online.

And in the second part we're going to be thinking about a new bank account.

So let's start off by thinking about how we keep our money safe online.

And we've got Alex, Jacob, Sophia, and Aisha helping us in this lesson.

And some members of Alex's family.

Alex sometimes plays games on his mom's phone.

He says, "Jacob told me about an app called Skycube.

I want to download it." Should Alex download the app? Hmm, I wonder what you think? You might want to pause before Alex's mom tells us what she thinks.

Yeah, Alex should definitely talk to his mom, especially as it's her phone.

Some apps can damage a phone or steal personal information.

We need to be sure that this is the right sort of thing to be downloading.

"That's one of our rules, isn't it?" Says Alex's mom, "You always ask and we download together." That's really sensible advice.

Even if it's your own device, it's worth talking to an adult that you trust to make sure that what you are downloading is safe.

Alex is using an app on his mom's phone.

If I buy five coins, I can use them to upgrade my car.

He says that'll be exciting.

Hmm, should Alex buy the coins? This is using real money to buy something within the game, isn't it? Many free apps use these in-app purchases.

They cost actual money.

Luckily Alex talked to his mom about it.

"It's okay," she says.

"Nobody can pay unless I put in the password." So setting up security features on your devices is really useful.

And then you don't accidentally spend money on an in-app purchase that you maybe didn't realise was real money.

We need to be very careful when we're playing online, playing games and using apps.

They will try to get us to spend money even if we don't realise we're doing it.

Time to check your understanding.

Here's the situation.

Alex has saved some money.

He's not sure how safe it is.

He said it's currently in my piggy bank in my room.

His sister says, "I think you should open an online bank account." Do you agree with Alex's sister, why? Pause the video.

Have a discussion, and when you're ready for some feedback, press play.

What did you think? Alex's sister says, "The bank keeps your money safe and you can pay for things using a bank card." So Alex and his sister weigh up banking online.

So they consider the advantages and the disadvantages.

She says, "My bank sends me balance updates so I know how much money I have." That's an advantage.

But Alex says, "But you might get a phishing message." They sometimes do try to pretend that they're your bank and get you to hand over details and information that you shouldn't share with other people.

So yeah, that is a disadvantage, but you have to be aware of that, be wise to it.

So a phishing message, like an email might sound urgent and ask for your bank details.

But phishing is fraud and it aims to steal your money.

So you need to be really careful.

A phishing message could look something like this.

Have a look at it, what do you notice? Hmm, dear customer, your account is hacked.

Phone now and a number and give bank details or you lose money.

Hmm, doesn't sound quite right, does it? Yes, that's right, Alex.

Phishing messages are often poorly worded or don't quite make sense and they often tell you to act quickly.

Phone now it says.

That can often make us think, "Oh gosh, I've got to do something straight away." But it's always worth stopping, pausing, really looking at that message.

Where has it come from? Do you trust it? And finding out before you do anything else.

Okay, so time to check your understanding.

Alex and his sister came up with an advantage and a disadvantage.

What about this? Is this an advantage or a disadvantage? So Alex says, "My sister can use her bank card to spend money from her account." Do you think this is an advantage or a disadvantage? Pause the video, have a discussion and when you're ready for some feedback, press play.

What did you think? Ah, well we've got it in both.

One advantage is that you can use a bank card to spend money from a bank account.

It's very easy to do.

You don't need to carry cash with you.

But it's also a disadvantage.

Why is it a disadvantage? Oh yes, it's very convenient to spend money using a card, but it's also very easy to spend too much.

We may not keep track of quite how many times we've tapped that card or entered our pin number, might we? We might lose track of how much we've spent and that could mean that we get into trouble and spend more money than we have or try to.

Now you're going to have a real discussion about these advantages and disadvantages of online banking for your task.

What do you think are the good and bad things about the bank looking after your money? Here are some statements for you to sort into advantages and disadvantages.

So pause the video, have a discussion, and when you're ready for some feedback, press play.

How did you get on? How did you sort the statements? Well, here are the answers that we came up with.

So an advantage is that bank accounts can often pay interest on your savings.

How banks work is very complicated, but what they do is that they do things with the money that they have, which make more money, and they then share out some of that money with the people who've given them money to look after.

And that is called interest.

It's how our money can maybe make a little bit more money for itself while it's in the bank.

So that can happen.

Your money's safe and you can check your balance at any time.

You know how much you've got.

It's very easy to buy things on a card and you can buy things online with an online bank account.

But there are some disadvantages.

It's easy to spend too much money.

It's easy to lose track if you don't check that balance enough.

You might be open to scamming and phishing messages.

You need to be very careful with the communication that may seem to come from your bank, but maybe doesn't.

It can be hard to get advice and help from your bank.

And sometimes if you lose your card or it's stolen, that can cause problems as well.

But you need to decide to do the advantages outweigh the disadvantages.

Is it on the whole better to have your money in a bank account rather than Alex having his in the piggy bank in his room.

So now we're going to think about this new bank account that Alex might set up and he has decided to open a bank account.

He said, "My mom helped me and the bank will keep my money safe." His grandmother has also changed the way she banks.

She says, "I've also started using online banking." Online banking is useful.

We thought about these advantages.

You can check your balance, the money that's in your account whenever you want.

You can pay wherever there's an internet connection and it's easy to transfer money.

Alex's grandmother checks her bank balance.

So her balance shows her the date, the description of what happened and whether money was paid in or paid out, and then her balance how much she's got.

So on the 18th of June, she went to the Big Green Shop and she paid £5.

45 out.

And that meant that there was £21.

43 left in her bank account.

And on the 18th, her bank paid her 19p in interest.

Not an awful lot, but a little bit.

She says, "It shows me everything that I've spent and any money that's gone in." What does she need to do when she stopped checking her account online, do you think? We'd have a think before Alex helps her out.

Alex says, "You need to log out of your account when you finish looking." Yes, the best way to help to keep your account safe is to make sure that when you are not using it, you've logged out of it and the account is closed on your computer.

So time to check your understanding.

His grandmother checks her bank balance.

She says, "I don't remember spending this money." What should Alex's grandmother do? Pause the video.

Have a think.

And when you're ready for some feedback, press play.

So what do you think Alex's grandmother should do? On the 19th of June, apparently Dave's Dodgy Deals she paid them £9.

99, but she doesn't remember it.

What should she do? Alex says, "Are you really sure you didn't spend this money?" So firstly, she should check.

She may have paid for something and forgotten, and if she didn't spend this money, then she should contact her bank straight away and tell them, because it looks as though somebody might have got access to her bank account.

There are also disadvantages with online banking.

"You have to be really careful with your personal information," says Alex.

"Fraudsters do try to steal money from you." And stealing money through the internet is something that people are getting unfortunately cleverer at doing.

Alex's grandmother has been sent an email from Trustee Bank Limited.

Hi Mrs. Jones, your account has suspicious activity on it.

Call us now or click this link.

Or your account will be frozen.

Hmm, what do you think? Well, Alex's grandmother is worried but she's not sure what to do.

What advice would you give her? What do you notice about that message? She says, "Should I call the number?" Alex says, "I think this is phishing." Would your bank send you an email like this? And remember, there are ways to identify phishing.

Firstly, Alex's grandmother wasn't expecting an email.

Secondly, there are spelling mistakes in the email as well or in the message.

Thirdly, she's being pressured to act quickly.

Call us now or click this link.

And Aisha says, "Never click a link if you are unsure." So if you get an unexpected message or a text message or an email, if it's not one that you are expecting and it looks a bit different from your normal messages, you should check very carefully and definitely talk to an adult before you do anything.

The following day, Alex gets an exciting email.

"Hey Alex, congratulations, you've won a brand new scooter.

Email us your bank details to pay the postage and we'll send it straight out.

Keep it secret though, you can surprise mum and dad, happy scootering." Alex says, "I've won a competition.

Should I email them?" What do you think? Pause the video.

Have a think about what Alex should do and when you're ready for some feedback, press play.

What did you think? Is it an email he should trust? His grandmother says, "sorry Alex, this is a scam.

You should not email them." There are ways to identify a scam.

Why does Alex's grandmother think it's a scam? What makes you suspicious about this message? Well, for firstly, Alex hasn't entered a competition.

It was a surprise email, wasn't it? Secondly, it's asking for his bank details.

And that's always a worry if we don't know who's asking for our details, we shouldn't hand over our bank details to anybody really, unless we absolutely know it's trustworthy.

And thirdly, it's asking Alex to keep it secret.

That's not good, is it? If anything like this comes to you, you really must talk to a trusted adult about it and they can help to advise you on what to do and maybe to report it as a scam if that's what needs to happen.

And it's time for you to do some practise.

How do you keep your money safe in an online account? What are the do's and the don'ts? So which of these should you do to keep your money safe and which should you not do because they are unsafe? And here are some do's and don'ts for sorting.

So pause the video, have a go at sorting those statements.

And when you're ready for some feedback, press play.

How did you get on? Did you enjoy discussing those? Did you agree on them? Here are how we sorted them.

You might want to just pause and check and see if you sorted them in the same way.

There are lots of things to consider there.

I think really important though is if you're worried about anything, ask an adult.

Ask a member of your family, somebody you live with, somebody you trust.

Don't act quickly if an email says to act quickly.

Get it checked out.

Make sure it's not someone trying to scam you out of your money, trying to commit fraud.

And be very careful with login details.

Don't record them anywhere where somebody else might be able to find them.

And sometimes it's a good idea to change passwords on a regular basis just to make sure that they don't become familiar and they can't be found by anybody else.

But always think carefully and as it says, stop and think and don't rush to do something.

And we've come to the end of our lesson all around keeping money safe.

There's been some really important things that we've talked about and some things that aren't really very nice to think about, but things that are really important to help us to make sure that our money is kept safe.

So there are people sadly out there who want to trick us out of our money.

We need to be very aware of when a message might be something that we need to tell somebody about and not to act on.

Keeping track of money allows you to see what you have spent and what is left.

And especially if you've got a bank account and you haven't got the money in your hands, it's always worth keeping track.

Have you still got enough money left to make that next purchase? And banks do provide a way of keeping our money safe, but we have to be careful that we work with that online bank in a safe way so that we are safe at keeping our money safe.

Lots of important messages today, and I hope you've enjoyed considering them.

I've certainly enjoyed sharing them with you.

Thank you for your hard work and all your thinking and I hope I get to work with you again soon, bye-bye.