I have had my credit card compromised or had fraudulent charges on it four times over ten or more years. Therefore I check my cc and bank acct daily unless I am traveling and don't have a secure network. I have found two cc frauds by checking daily but have not had any problem with my checking.
The Electronic Funds Transfer Act protects you for 60 days from the date of the account statement that reflects an unauthorized transaction from your account. To make sure that 60 period does not lapse I would suggest that all transactions be reviewed at least monthly.
Someone else said this in another thread; but any fund company is not going to have a headline saying they "lost" your retirement. They know all too well what it would do to their business.
+1. If you were at Fidelity or Vanguard your attorney would never recommend accepting half and signing an NDA in such circumstances nor would the institution demand it.Gauss,
Great scenario. I personally wouldn't spend too much time worrying about it though. Actually their conditions are pretty much boilerplate best practices. IMHO.
Those companies would rather eat losses then have the negative publicity.
I know in your scenario the NDA would protect them. Google a bit, you will find cases where someone did get hit, but the fund company made it right.
Obviously you don't want to be the person that is the exception. Get rid of the XP desktop! Best wishes.
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when my ID was stolen I had etrade put me on a token card - you guys that have big $$$ in your IRAs should consider a verbal password and/or token ID
banks will also do the same thing to protect from wire fraud
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Seems like two-factor authentication via text would also work on this, as long as the fraudster didn't have access to your computer. A token card (or google authenticator) is even better, but not yet as commonly available.
It's not widely advertised, but Fidelity offers two-factor authentication using either a hardware token or the VIP Access smartphone app. I use the latter since my phone is always with me and it's password-protected. It's incredibly simple to set up. Install the free app on your phone, call Fidelity and give them the unique ID# from your app, and that's it. From that point on, after you login, you'll also need to provide the 6-digit access code from the app on your smartphone, which changes every 30 seconds. I also get instant email notifications for any transaction at Fidelity and I use very strong passwords and userids, which I change a couple times each year.