[HN Gopher] Lost around 150k of stock from my fidelity brokerage...
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       Lost around 150k of stock from my fidelity brokerage account (ACATS
       Transfer)
        
       Author : nope96
       Score  : 13 points
       Date   : 2022-07-02 18:54 UTC (4 hours ago)
        
 (HTM) web link (old.reddit.com)
 (TXT) w3m dump (old.reddit.com)
        
       | nope96 wrote:
       | Found via a thread on Bogleheads,
       | https://www.bogleheads.org/forum/viewtopic.php?p=6756717
       | 
       | In another thread the same Reddit poster writes: "I was just told
       | by e-trade that the stocks were sold and the amount was already
       | transferred out to an unknown BOA account."
       | 
       | It sounds like ACATS has absolutely no security whatsoever. If
       | someone knows your account numbers, and has enough information to
       | set up a fake brokerage account in your name, they can pull your
       | money away, sell it, and transfer it out before anyone can stop
       | it.
        
       | wdb wrote:
       | Ah I had something similar happen in Switzerland. Still getting a
       | sad feeling when I lookup the current values of my then stock
       | portfolio. Don't understand why it's possible
        
         | nope96 wrote:
         | The brokerages did not refund you?
        
         | sschueller wrote:
         | Which brokerage and did the transfer go to another Swiss bank?
         | Did you file a police report?
        
       | thyrsus wrote:
       | Fidelity says 401k accounts are not eligible for lockdown. Why am
       | I supposed to not be worried?
        
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       (page generated 2022-07-02 23:02 UTC)