BOX SET: 6 Minute English - 'Money' English mega-class! 30 minutes of new vocab!

6 Minute English.

From BBC Learning English.

Hello. This is 6 Minute English from BBC Learning English. I'm Neil.

And I'm Georgina.

Are you good at remembering your computer passwords, Georgina?

Mm, not really, Neil — I mostly use something easy to remember,

like my mother's maiden name or the street where I was born.

Or the name of your first pet!

Yes, me too, but we should be more careful about online security, Georgina,

because of a worrying trend, and the topic of this programme — online fraud.

Online fraud involves using the internet

to trick someone into giving away their money or data.

It takes many forms, from deceptive emails

which trick us into paying money to the wrong bank account,

to the theft of credit card details.

It's regarded by some as a highly profitable and relatively low-risk crime,

so in this programme we'll be finding out why it's so easy for criminals,

or fraudsters, to steal our money.

And of course, we'll be learning some related vocabulary along the way.

But first, it's time for our quiz question.

In July 2020, nine British men were arrested

for defrauding the Coronavirus Job Retention Scheme —

a government fund for workers who've lost their job to Covid-19.

They set up fake companies and applied, fraudulently, for money.

But how much money has been claimed in total

through the coronavirus job scheme in the UK?

Is it a) £17 billion?

b) £27 billion?

Or c) £37 billion?

Hmm, it must be a lot, so I'll say a) £17 billion.

OK, Georgina, we'll find out later.

Now, Rachel Tobac, CEO of Social Proof Security, is an expert in cyber crime.

She describes herself as an ethical fraudster.

Businesses wanting to combat fraud

employ her to hack into their computer systems to find their weak spots.

Here, Rachel explains to BBC World Service programme The Inquiry

how getting people's information is the key to online fraud.

The reason why we're able to do that, from an attacker mindset,

is because we use what's called OSINT — open-source intelligence.

We look up everything about you.

We can figure out who your assistant is, who your accountant is on LinkedIn.

We know what emails you use from screen shots that you've put on your Instagram.

Rachel looks at fraud from a criminal's 'mindset' —

'someone's way of thinking

'and the general attitudes and opinions they have about something'.

From a fraudster's perspective, the most valuable thing is 'intelligence' —

secret information about a government or country, or in this case a person,

such as the information people unwittingly post on social media.

Fraudsters use this intelligence to build up a picture of someone's online activity.

And as BBC World Service The Inquiry presenter Charmaine Cozier explains,

there are many ways of doing this.

Fraudsters have thousands of cover stories but the end goal is always the same —

to trick people out of cash or possessions.

Rachel says they have options for how to do that.

Login details stolen during a data breach from one company,

often using software or viruses called malware,

are used to infiltrate customer accounts at another.

To access people's data, fraudsters use 'cover stories' —

'false stories told in order to hide the truth'.

For example, they may pretend

to be calling from your bank or credit card company.

If people believe these cover stories and share personal data,

this can result in a 'data breach' —

'an occasion when private information

'can be seen by people who should not be able to see it'.

'Malware' — 'computer software and viruses

'that are designed to damage the way a computer works' —

can also be used to gain login details and passwords.

Data which is then used to 'infiltrate' other online accounts —

'secretly enter a place, group or organisation

'in order to spy on it or influence it'.

Modern fraudsters are so devious at collecting online information

that many victims only realise what's happened

after their bank accounts have been emptied.

Which I guess was the mindset

behind those British fraudsters you mentioned earlier, Neil.

Ah, yes, the nine men who tried to defraud the Coronavirus Jobs Retention Scheme.

Remember, for my quiz question,

I asked you how much the scheme has paid out in total so far in the UK.

I said a) £17 billion.

Well, in fact it's even more — the correct answer is b) £27 billion.

Luckily, the £495,000 which these fraudsters tried to steal was recovered.

Even so, Neil, I think I'm going to change my passwords soon! Better safe than sorry!

Good idea, Georgina.

In this programme, we've been hearing about the rise in online fraud,

often committed when fraudsters gain 'intelligence' —

'secret information about a person posted on the internet'.

These criminals' 'mindset' — or 'mentality' —

is to surreptitiously find information by creating a 'cover story' —

a 'false story someone tells in order to hide the truth'.

By posing as clerks from your bank, for example,

they might be able to access sensitive private information

which they should not be able to see — an event sometimes called a 'data breach'.

Another way fraudsters 'infiltrate' —

or 'gain access secretly, without permission' —

is with the use of 'malware' —

'computer software and viruses designed to damage the way a computer works'.

If you want to find out more about keeping yourself safe from online fraud,

search the BBC website using the term "cyber security".

And if you like topical discussion

and want to learn how to use the vocabulary found in headlines,

why not check out our News Review podcast?

We also have a free app you can download for Android and iOS.

And for more trending topics and real-life vocabulary,

look no further than 6 Minute English, from BBC Learning English.

See you next time. Bye!

Goodbye!

6 Minute English.

From BBC Learning English.

Hello. This is 6 Minute English from BBC Learning English. I'm Neil.

And I'm Sam.

Have you seen my lottery ticket, Sam? I seem to have lost it somewhere.

Is this another one of your get-rich-quick schemes, Neil?

People invent all kinds of ways

to make a lot of money quickly and with little effort.

Well, if you really want to get rich quick,

maybe you should copy technology tycoon Elon Musk.

Recently he invested one and a half billion dollars

in the cryptocurrency, bitcoin.

Bitcoin has made some people very rich, very quickly,

but as we'll be hearing in this programme, it's not without its critics.

Creating bitcoins, a process known as mining,

uses huge amounts of electricity

and green campaigners are now questioning bitcoin's impact on global energy use.

But before we find out more, it's time for my quiz question.

What year was bitcoin first released?

Was it a) 2009?

b) 2015? Or c) 2019?

I'll go for b) 2015.

OK, we'll find out the answer later in the programme.

In this programme, we are going to talk about bitcoin,

the use of the virtual currency.

It's all very well for billionaires like Elon Musk,

but what about the ordinary, average person? Is bitcoin a good option for them?

Well, that's exactly what BBC World Service programme Tech Tent

wanted to find out by interviewing people in the street.

Here's what one bitcoin fan, Heather Delany, had to say.

I invested in bitcoin a number of years ago.

With the initial investment of only around five dollars,

it meant that my risk was essentially the cost of a cup of coffee and a pastry,

and as somebody who's quite risk-averse when it comes to investment,

it did allow me to dip my toe into bitcoin.

Over time I was able to invest at various points as I really see bitcoin

as more of a long-term investment and part of my, my overall pension plan.

Heather describes herself as 'risk-averse' —

she 'wants to avoid risks as much as possible'.

By only investing five dollars she was able to 'dip a toe into' bitcoin —

'try doing something slowly and carefully' to test whether she liked it.

Over time, Heather's bitcoin investment became part of her 'pension plan' —

'a financial plan funded by your salary to save money for when you retire'.

So, everything seems to be working out for Heather.

But the recent buzz around bitcoin has also highlighted another,

less positive side of the story — bitcoin's environmental footprint.

Mining bitcoins, the complex process that creates new coins,

uses a lot of electricity.

Recent estimates show that bitcoin has now overtaken

the entire annual electricity use of Argentina!

Michel Rauchs works at Cambridge University's

Centre for Alternative Finance which monitors bitcoin's electrical consumption.

Here he is in conversation with BBC World Service's Tech Tent.

Bitcoin consumes just a colossal amount of electricity

and now whether that electricity expenditure is really worth the benefits,

I think that really depends on how you value bitcoin itself.

But just looking at the electricity consumption,

I think we need to put things a bit into perspective.

So, on the one hand if you compare it to a country like Argentina,

it's just incredible and awe-inspiring.

On the other hand, if you compare it to, for example,

home appliances that are always on, on standby,

but not being used, in the US alone,

that consumes twice as much electricity, on a yearly basis,

than the entire bitcoin network.

Michel thinks that to assess bitcoin's energy use,

we must 'put things into perspective' —

'find the true, objective value of something'.

Comparing bitcoin's energy use to a huge country like Argentina sounds monstrous.

But looked at another way, bitcoin only consumes half the electricity

used by all US televisions and other home appliances left 'on standby' —

which means 'powered on and ready to work when needed'.

So maybe the best get-rich-quick scheme

is to save money on your electricity bills by turning off your TV, Neil.

Well, it's got to be easier than mining bitcoins, which reminds me.

Of your quiz question!

You asked what year bitcoin was first released, 2009, 2015 or 2019?

And I said b) 2015.

Which was the wrong answer, I'm afraid, Sam! It was first released in 2009.

So maybe we'd better keep buying lottery tickets.

After all, it's a pretty good 'get-rich-quick' scheme —

'a way to make a lot of money quickly'.

Let's recap the other vocabulary now.

Someone who is 'risk-averse' 'doesn't like taking risks'.

If you 'dip a toe into something',

you 'test it out slowly and carefully to see how it feels'.

A 'pension plan' is 'a way of saving money for your retirement'.

'Putting things into perspective'

means 'assessing the real importance of something,

'often by comparing it to something similar'.

Like comparing the energy use of bitcoin

with the energy used by electrical appliances left on 'standby' —

'ready to be used'.

And that's all we have time for.

— Bye for now! — Bye-bye!

6 Minute English.

From BBC Learning English.

Hello and welcome to 6 Minute English. I'm Alice.

— And I'm Neil. Hello! — Hello, Neil.

Now tell me, do you usually go Dutch when you take someone out to dinner?

Now 'go Dutch' means to 'share the cost of something',

for example, a meal in a restaurant.

Er, well, Alice, no, I usually expect my date to pay actually.

I hope you're joking, Neil. But I wouldn't be surprised!

Personally, I think it's a nice gesture

to offer to pay for the meal when you're on a date.

Mm, yeah, but it can depend on the situation —

some people might be offended if you offered to pay for everything!

Well, yes, true.

Clearly, you're not going to offend those people, Neil, though are you?

And I won't be going to dinner with you any time soon!

Well, I didn't ask, so calm down, Alice!

Actually, money matters can cause relationship problems in couples —

and that's the subject of the show.

Here's today's quiz question, based on a UK survey. Ready, Alice?

I am indeed.

What percentage of married couples don't know exactly what their spouse earns?

— Hm. — Is it a) 4%?

b) 14%? Or c) 44%?

Hm, well, gosh! I think b) 14%. Yes, that sounds about right to me.

Well, we'll find out if you're right or wrong later on.

Now, it seems important that couples are honest about their finances,

because it can have an impact on their future financial options together.

Yes, that's right.

If you're buying a house together and then find out later that your 'spouse' —

your 'husband or wife' — is thousands of pounds in debt,

then the chances are you won't be able to get a mortgage.

'To be in debt', by the way, means 'to owe money to someone'.

Good point. A 'mortgage' is where 'a bank lends you money to buy a house'.

Let's listen now to what Arabella Russell, a relationship therapist,

has to say about this.

The fact of the matter is it's very difficult,

it can be very difficult, to talk about money.

Often when we talk about money, it's emotions very close to us —

there's guilt, there's shame. What have we done in the past?

To start those conversations is complicated.

Money can be about how we value ourselves, how we feel valued.

It's not just a simple case of talking about hard cash.

Arabella talks about "hard cash". Now what does that mean?

Well, we say 'hard cash' when we talk about 'physical money' —

the coins and banknotes — as opposed to other types of payment.

And why do we find it so difficult to talk about cash, Alice?

Well, because we get emotional about it!

Arabella talks about feelings of guilt and shame.

And for many of us, money isn't simply money.

It can be about how we value ourselves or feel valued.

Right, so if I were to buy you a cheap engagement ring,

you would feel undervalued.

Nice example, Neil!

You can't be a cheapskate when it comes to engagement rings!

So how much would you spend on our engagement ring, Neil?

Well, I didn't know we were getting married!

But if I was buying an engagement ring for you, Alice,

I think definitely I would spend about, you know, around in the region of, er...

— Sorry, Neil, I didn't quite catch that. — Something like, er...

Something, pounds.

Oh, right, hmm.

Are you calling me a cheapskate?

I certainly am, Neil.

'Cheapskate' means 'someone who doesn't like spending money', by the way.

Moving on, let's hear more from Arabella

about how people have different attitudes towards money.

Accept the fact that in your relationship you might do money differently.

There might be a spender, there might be a saver.

It's very tempting, if your partner does things differently, to say they're wrong.

They might do it differently because they see money differently.

Do it differently, but have a budget.

Of course, be honest about each other,

but recognise that you might just have a different view of money.

Now that sounds like excellent advice to me!

I'm a saver, and I'm not ashamed to say it.

Why waste money on an expensive engagement ring?

Engagements don't always last.

You might drop the ring down the kitchen sink or...

Oh, how romantic, Neil!

..it could be stolen or, you know, you might meet someone else.

Indeed. Now, I know I shouldn't say you're wrong, but you're wrong!

You have to invest in a relationship if you want it to work.

Calm down. I see money differently to you.

I'm a saver and you're a spender, and that's all there is to it.

Now, a 'budget' means 'the money you have available for something

'and a plan for how to use it'.

Mm, well, we'll have to 'agree to differ'.

And that means 'accept that we have different opinions' on this one!

Can we have the answer to today's quiz question then, please?

Yes, we can.

I asked what percentage of married couples

don't know exactly what their spouse earns?

Is it a) 4%? b) 14%?

Or c) 44%?

And I said b) 14%.

— And... — Mm-hm? Yes?

..you are absolutely and completely...

— ..wrong! — Oh!

The correct answer is 44%.

Now that's according to new research

conducted by the UK credit report service, Noddle,

who also found that an astonishing 1.9 million married couples

actively try to keep their finances secret from their partners!

Gosh, what a lot of people!

Can we have today's words again then, Neil, please?

Yes, we can. Here they are:

go Dutch,

spouse,

to be in debt,

mortgage,

hard cash,

cheapskate,

budget,

agree to differ.

Well, that brings us to the end of today's 6 Minute English.

We hope you thought today's programme was good value

and please join us again soon. See you then.

— Goodbye! — Bye!

6 Minute English.

From BBC Learning English.

Hello and welcome to 6 Minute English. I'm Neil.

And I'm Sophie.

Sophie, I can't get out of my head what Mark Zuckerberg,

you know, the guy who created Facebook, said recently.

Oh, I know, he 'pledged' — or 'made a serious promise' —

to give away 99% of his shares in Facebook over the course of his lifetime.

The shares are currently worth around $45 billion.

Why, oh, why did he decide to give his fortune away? It's puzzling me.

It's an act of 'philanthropy' — which means

'helping others, especially by giving large amounts of money to good causes'.

And philanthropy is the subject of this show.

But don't worry about Zuckerberg.

It's probably fair to say he will remain extremely 'well off' — or 'wealthy' —

even after giving away his fortune.

Well, that's true.

Let me ask you then today's quiz question.

Who was the most generous philanthropist in the US last year?

Was it a) Bill Gates?

b) Mark Zuckerberg?

Or c) Warren Buffett?

I'm going to say c) Warren Buffett.

Well, we'll find out if you were right or not later on in the show.

Now, Zuckerberg was inspired to give away his fortune

by the birth of his daughter, Max.

In a letter to Max, posted on Facebook.

In his post, he talks about using the money to advance human potential

and promote equality for all children in the next generation.

'Equality' — in other words, 'with the same rights and opportunities'.

Zuckerberg is the latest in a long line of billionaire entrepreneurs

to turn philanthropist and use his money for good causes.

Did you know that some of the earliest American philanthropists

were robber barons?

Robber barons? What's... Hang on.

What are robber barons?

They're businesspeople who use 'unethical' — or 'morally wrong' —

business tactics to gain large personal fortunes.

19th century entrepreneurs

like Rockefeller, Carnegie and Ford were robber barons.

They built up huge empires in industry — oil, steel, railways, and cars —

and were largely responsible for transforming the United States

from an agricultural nation into an industrial one.

Henry Ford — he's the one who said

you can have any colour you want as long as it's black. I like that kind of thing.

— Focus, Neil! — OK, OK!

But as the barons got older,

they decided they wanted to give back to society and turned to philanthropy.

Andrew Carnegie believed that wealth should be spent

to make the world a better place.

Hm, that sounds too warm and fuzzy for a 'ruthless' — or 'cruel' — robber baron.

People change, Neil!

When he died, Carnegie had given away a total of $350 million to the state,

to spend on public works.

That's around $8 billion in today's money.

Well, let's listen to Hugh Cunningham,

a Professor of History at the University of Kent, here in the UK.

He talks about what the 'average Joe' — that's 'you and me', folks —

thinks about big business and philanthropy today.

The very word philanthropy does not necessarily have

100% positive connotations for the public at large,

given where we are in terms of the public's attitude towards big business

or the banks and all that kind of stuff.

So I think it's in everyone's interests to try and broaden out

the concept of philanthropy into a wider notion of giving,

making a contribution, making a difference.

Yes, banks and big businesses can easily afford

to give away millions of dollars for the public good, if they choose to,

and it's not so easy when you're an individual struggling to pay the rent.

That's right, Neil.

But a lot of people in the UK are superrich,

compared to those in the developing world.

And we can make a big difference by 'donating' — or 'giving' —

smaller amounts of money to help improve their lives.

And that's what Professor Cunningham means when he says

we should broaden out the 'notion' — or 'idea' — of philanthropy.

It's not only robber barons who can afford to be philanthropic.

Let's listen to Toby Ord, a graduate student from Oxford University,

talking about how he makes a difference.

I worked out that, over my life, I'd be able to earn about £1.5 million

and that I could maintain my current standard of living as a graduate student

and still donate about £1 million of that.

So Toby actually gives away any money that he earns above £18,000 a year.

He feels that he doesn't need more than this amount

to maintain his standard of living.

I'm impressed by Toby's pledge,

but I don't think I could live like a student my whole life!

I thought that would suit you extremely well, Neil!

Now why don't you give us the answer to today's quiz question?

I asked who was the most generous philanthropist in the US last year?

Was it a) Bill Gates? b) Mark Zuckerberg? Or c) Warren Buffett?

I said Warren Buffett.

Ah, good guess, Sophie! Well done!

Buffett, who made his $73 billion fortune from investments,

donated $2.8 billion to charity in 2014,

bringing his lifetime total to almost $23 billion, according to Forbes.

That's 'a tidy sum' — and that means 'a large number'!

OK, let's hear those words again, Sophie.

Here they are:

pledged,

philanthropy,

well off,

human potential,

equality,

unethical,

ruthless,

average Joe,

donating,

a tidy sum.

Well, that's the end of today's 6 Minute English. Please join us again soon!

— Goodbye! — Bye-bye!

6 Minute English.

From BBC Learning English.

Hello and welcome to 6 Minute English. I'm Alice.

And I'm Neil.

Alice, have you got two pounds? I forgot my wallet and I need a coffee.

I've only got these pennies.

Sorry, I always use my bankcard in the cafeteria.

You use a card to buy coffee?

Yes. It's a tap-and-go card, so it's quick.

You don't enter your PIN number and everyone in the coffee queue uses them,

except you.

And today's show is about how we pay for things.

Well, I pay for things with money!

There are different kinds of money.

You're behind the curve, digging around in your pockets for change, Neil.

Do you still use cheques too?

Yes, I do. Cheques are very useful.

Now, being 'behind the curve' means 'not keeping up with current trends'.

So help me keep up, Alice. What's a tap-and-go card?

I thought you were talking about your regular bankcard.

Well, 'tap-and-go' cards are regular bankcards,

but with a built-in chip and antenna.

The card reader sends out a radio frequency

and when you bring the card close to the reader,

the antenna picks up the signal to make the payment.

Hmm. This antenna business doesn't sound secure —

an 'antenna' is used for 'sending or receiving radio signals'.

Doesn't it mean your personal data

is flying around in the ether for everyone to steal?

In this context, 'ether' means 'the air where electronic communication happens'.

And nothing's flying around, Peter Pan!

At less than half a second per transaction,

there's no time for anyone to steal your cash!

Now, why don't you answer today's quiz question?

Which man's face appears on a UK £10 note?

Is it a) Charles Darwin?

b) Isaac Newton?

Or c) Albert Einstein?

None of them — it's the Queen!

No, Neil! The Queen is on one side,

but on the other side of each note is an important historical figure.

Oh, really? I've never noticed.

OK, I'll go for b) Isaac Newton. He's a historical figure.

Mm, well, so are Darwin and Einstein.

And coins and banknotes will be historical soon.

But we'll find out if you're right later on.

I'm still concerned about tap-and-go. What if someone steals my card?

Each contactless payment is limited to a certain amount. The UK's limit is £30.

After you've used your card a few times in a row, you have to enter your PIN.

And if a thief does go on a spending spree with your card,

your bank covers you against fraud.

Whereas, if someone steals your banknotes, that's your bad luck!

OK, good points. 'Fraud' means ' getting money by cheating people'.

And 'a spending spree' is 'a short period of time where you do a lot of shopping'.

Are you a big spender, Alice?

Not with my tap-and-go, Neil. How about you and your chequebook?

No comment.

Moving on.

If getting your bankcard out seems like too much trouble,

there's now a solution with 'wearable tech' —

that's 'clothing and accessories

'that include computer and electronic technologies'.

Let's hear what Kenneth Cukier, a technology expert, has to say.

You can simply take any wireless card and the chip from it

that your bank might issue you,

and you can put it into the coat and then, when you want to make a payment,

you just simply wave your arm in front of the terminal and leave with your latte.

This is intended for people who are incredibly lazy,

who don't want to take their card out of their wallet,

or use their phone, or use their watch.

People are going to be making more purchases more of the time,

particularly for small-value goods.

What Kenneth Cukier said is very interesting.

That sounds tempting, but I'm still concerned about how safe this all is.

What if I wave my arm around and make a payment by mistake?

The chip has to get very close to the card reader to make a payment,

so that's not likely to happen.

Now companies are creating new biometric technology, which you might like Neil,

because it combines payment and security technology.

Let's hear more from the BBC reporter Kate Russell.

For those times when not even carrying a phone is convenient —

at the beach or a festival for example —

the FinGoPay system reads the unique maps of veins under the surface of your finger.

The trick is remembering which finger you registered with.

This high-tech stuff reporter Kate Russell is talking about is amazing!

Someday soon, we won't have to carry a wallet or a purse or anything.

The veins in our finger will authenticate payments and prove the payments are ours.

I can't wait!

Hmm. Sounds a bit too sci-fi for my liking.

How about giving us the answer to today's quiz question?

All right then. I asked which man's face appears on a UK £10 note?

Is it a) Charles Darwin?

b) Isaac Newton?

Or c) Albert Einstein?

And I said b) Isaac Newton.

Yes. And you were wrong, Neil!

It was that other famous person, a) Charles Darwin.

Isaac Newton was on the old £1 note, which is no longer used.

And Einstein was German, not British,

so he wouldn't appear on a UK banknote anyway.

Well, they look similar, I think. Can you tell us today's words once again, Alice?

Yes, of course I can.

They are:

behind the curve,

tap-and-go,

antenna,

ether,

fraud,

spending spree,

wearable tech,

authenticate.

Well, that's the end of this edition of 6 Minute English.

Get ahead of the curve and join us again soon.

Meanwhile, visit our website, BBC Learning English dot com,

where you'll find guides to grammar,

exercises, videos and articles to read and improve your English.

— Goodbye. — Bye!

6 Minute English.

From BBC Learning English.