Download the Schwab app from iTunes®Get the AppClose

  • Find a branch
To expand the menu panel use the down arrow key. Use Tab to navigate through submenu items.

Don’t Get Hooked by Phishing Scams

You may consider yourself too savvy to fall for a phishing scam (a ploy using a legitimate-looking email to trick you into sharing sensitive personal or financial information). However, such cons remain remarkably effective: In 2016, more than 19,000 people reported losing almost $32 million in phishing scams in the United States alone.1

Part of the problem is that hackers are becoming increasingly sophisticated in their attacks. For example, one such scam used what appeared to be an authentic email from an online shopping site to lure users to a fake site where they were asked to update their account information.

As phishing emails become more persuasive, consumers should take extra care when conducting business online, says Tonia Dudley, incident commander and director of security awareness at Schwab. “Be wary of any email asking for personal information—regardless of its source,” she says.

Many financial firms, including Schwab, use a secure message center when requesting sensitive data. If you receive such an inquiry via an unsecure channel, there’s a simple safety measure: Call the company in question. “When in doubt,” Tonia says, “just pick up the phone.”

The bottom line: If you receive a request for personal information, verify the source before you respond.

12016 Internet Crime Report, Federal Bureau of Investigation.

What you can do next

Tips for Maximizing Your Next Bonus
Saving for Retirement: IRA vs. 401(k)

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers are obtained from what are considered reliable sources. However, their accuracy, completeness and reliability cannot be guaranteed.


Thumbs up / down votes are submitted voluntarily by readers and are not meant to suggest the future performance or suitability of any account type, product or service for any particular reader and may not be representative of the experience of other readers. When displayed, thumbs up / down vote counts represent whether people found the content helpful or not helpful and are not intended as a testimonial. Any written feedback or comments collected on this page will not be published. Charles Schwab & Co., Inc. may in its sole discretion re-set the vote count to zero, remove votes appearing to be generated by robots or scripts, or remove the modules used to collect feedback and votes.