Has anyone ever had password/identitytheft result in someone emptying your account(s)?
If this did happen, say from tdameritade, etc, is there any recourse assuming the criminal is untouchable?
Check your accounts often!
+1
No personal experience, but here's something I wouldn't have thought of: account plundered by ex-spouse.
https://benefitslink.com/boards/ind...ty-theft-that-emptied-a-participants-account/
+1The unnamed company I used to work for would have made good on this, unless the owner did something really off to make this happen. It would have caused a bad public outcry to do otherwise. I can add this would be a very rare occurrence and it is the reason companies are always working on their security.
Check your accounts often!
+1
The Megacorp I worked for would have done the same. It's not worth the negative PR.
Not what I'm saying.I don't see how the employer would be on the hook for ID theft at the 401k provider. I could see maybe the 401k provider would restore the stolen funds and press charges unless employer/employee was negligent.
OMG I scheduled my first withdrawal of dividends from my IRA account. So I plugged it in, put in 25% Federal withholding and 8% state withholding, and confirmed. Less than a second later I had a text and an email from Schwab asking me if I did this. I never knew that would happen, but I'm glad it did
Yes - it is a pet peeve of mine that we have all sorts of Federal protections for a "loss of funds" or "billing error" for Credit Cards and bank savings/checking accounts -- ie. the type of accounts that folks like us only have a few thousand dollars in.
The IRA/401k accounts, on the other hand, where our "big money" is stored, do not seem to enjoy any of these consumer protections.
I keep thinking that I should probably open up multiple IRAs at different companies so if any one is hacked, and I am not made whole, then it would limit the damage to my financial house.
-gauss
fidelity found my wife's account and password for sale on the dark web .
they have their own hacker team that looks for this stuff .
they locked our accounts and re-did everything .
they said they have other safeguards that would have triggered if the money was attempted to be moved but they can't elaborate on it .
Might want to review this document. It's up to the broker.I just heard that the SEC only insures up to 500k per account.