07/09/2026
From another CPA - Lock your brokerage accounts
While I was interacting with Vanguard today, a very important security issue was brought to my attention. As the systems between brokerages currently work, one brokerage can initiate action to transfer out all the assets from another Brokerage.
Current ongoing Scam is fraudulently pulling out all assets from another brokerage.
Vanguard now allows locking the accounts so that this kind of transfer cannot take place. I am sure other brokerages also provide this locking feature.
This does not affect any movement of funds between Vanguard and our local bank account.
I am going to lock all my other brokerage accounts from transfer out.
I would advise everyone to LOCK all their personal Brokerage accounts immediately without delay.
