Fraud Prevention & Protecting Your Assets
Executive Summary
We are monitoring the current geopolitical situation and taking precautions to keep your assets and information secure.
Charles Schwab is taking proactive measures to protect your data and has insurance policies in place beyond the normal requirements.
Review the Fraud Tips and Best Practices below as a guide to protect your data.
Cybersecurity can be overwhelming, take small actionable steps to get started.
Cybercrime and fraud are serious threats and constant vigilance is key. While our firm plays an important role in helping protect your assets, you can also take action to protect yourself and help secure your information. The section below summarizes common cyber fraud tactics, along with tips and best practices.
Many suggestions may be things you're doing now, while others may be new. We also cover actions to take if you suspect that your personal information has been compromised. If you have questions, we're here to help.
TIPS FOR PREVENTING FRAUD
Cyber criminals exploit our increasing reliance on technology. Methods used to compromise a victim's identity or login credentials - such as malware, phishing, and social engineering - are increasingly sophisticated and difficult to spot. A fraudster's goal is to obtain information to access your account and assets or sell your information for this purpose. Fortunately, criminals often take the path of least resistance. Following best practices and applying caution when sharing information or executing transactions makes a big difference.
Here are some safe practices for communicating with Compass Advisors:
Keep us informed regarding changes to your personal information.
Expect us to call you to confirm email requests to move money, trade, or change account information.
We provide all clients access to a secure vault to share documents.
Emails with sensitive information will be sent encrypted through a secure email server.
General best practices:
Be suspicious, especially with unsolicited phone calls. You can always hang up and call back using a known contact number.
Be cautious when sharing sensitive data via email. Use secure email, a secure Vault or other methods whenever possible.
Do not disclose sensitive information on social media sites such as birthdate, contact information and mother's maiden name.
Be cautious when receiving emails with links. These can often lead to phishing attempts and attempt to track your keyboard strokes.
Check your email and account statements regularly.
Keep your technology up to date:
Keep your web browser and operating system up to date. Old software, operating systems and browsers can be susceptible to attack.
Turn off Bluetooth when it is not needed.
Safely and securely dispose of old hardware.
Do not use free or found USB thumb drives.
Avoid using public computers when accessing personal and or financial websites. If you do, go to browser settings and clear the browser history (cache) and cookies when you're finished.
Use only wireless networks you trust.
Use your personal Wi-Fi hotspot instead of public Wi-Fi.
Do not accept software updates if you are connected to public Wi-Fi.
Website best practices:
Check the URL to see if it's a secure connection. Sites that begin with https rather than http are generally considered safer.
Do not visit websites you don't know - for example, websites advertised on pop-up ads and banners.
Log out completely to terminate access when you've completed a secure session. Don't just 'x' out the webpage.
Beware of Phishing:
Do not click on links or attachments in emails and text messages if you question the validity of the sender. Trust your gut instincts and type in the real web address in your browser if you have any doubts.
Hover over questionable links to reveal the site's full URL and see where the link really goes.
Check the sender's domain name in the email address to see if it matches what you would expect to see.
Activate span filters in your emails settings tab. This will prevent unsolicited emails from coming to your inbox.
If you suspect an email that appears to be from Schwab is a phishing email, please forward it to: phishing@schwab.com
WHAT TO DO IF YOU SUSPECT A BREACH
Call our office or your Schwab Alliance team immediately at 800-515-2157 so that they can watch for suspicious activity and collaborate with you on other steps to take.
Use Schwab's "Identity Theft Checklist" to help you handle fraud or identity theft - click HERE.
CHARLES SCHWAB MEASURES TAKEN TO PROTECT CLIENT ASSETS
Schwab is committed to staying financially strong, and they have confidence in their ongoing financial health. They run their business with a sound capital structure and are positioned for long-term stability. To find out more about how Schwab assets are protected, please click HERE.