If you have Charles Schwab account I suggest you take action now to protect your asset from being hacked. I’ll talk about how and briefly talk about why:

How

Before you start, think of an English word that is hard for others to guess but easy for you to remember, between 8 and 16 characters.
Give Schwab a call, you can search online to find their official 800 number.
In their voice menu, say you want to talk to a representative.
Once someone answers your call, tell them you want to set up a “verbal password”.
Answer their verification questions and get it setup.

If at step 4 you are asked to provide “verbal password” and you never set it up before, you should feel alerted and you may want to visit a Charles Schwab branch to get it resolved.

Why

If you don’t do so, there is a chance that some imposters can call Schwab ahead of you to set that up. Once it’s set up, when you call Schwab and talk to a representative in future, you will have to tell them your “verbal password” which you do not know! So the best way to protect your assets is to call now ahead of the imposters. (It’s not the most ideal way in my opinion, but it is the best I am aware of now.)

I will not talk publicly about details about how imposters use this to steal your money for obvious reasons. I can only say some of my colleagues got money either stolen or nearly stolen, so this is serious and urgent. And for my readers, I suggest spread the word cautiously because imposters are watching too.

Disclaimer: The views and opinions expressed in this blog post are those of the author and do not necessarily reflect the official policy or position of any organization, company, or individual. The information provided is based on the author’s personal experience and understanding, and it is recommended to independently verify any information before taking any action. The author is not responsible for any direct, indirect, incidental, consequential, or any other damages arising out of or in connection with the use of this blog or its contents.