Today’s post is a bit of a PSA courtesy of Harry Sit of The Finance Buff:
Protect Your Brokerage Accounts From ACATS Transfer Fraud [The Finance Buff] – “With all the hacks and data leaks in recent years, fraudulent ACATS transfers have also become a problem. I read a report of this type of fraud from a poster ww340 on the Bogleheads forum.
‘I discovered that our taxable account at Vanguard had been slowly pilfered of approximately $100,000 in stocks transferred by ACATS to 2 different brokerage accounts that were not mine over a period of time.’
We don’t want our investments stolen from us. How do we protect our accounts from ACATS fraud?”