Charles Schwab To Cover All Fraud Losses
Gregg Keizer reports for Information Week on Charles Schwab's announcement yesterday that the online broker will provide a guarantee against any and all losses from unauthorized account access. Called the Schwab Security Guarantee, it is an effort intended to help calm customer concerns about phishing and identity theft.
Schwab's press release announcing the new Security Guarantee is available online.
"It has always been our practice to make clients whole in cases of unauthorized account activity. Our new security guarantee turns that historic practice into a public promise," said chief executive Charles Schwab in a statement. "Given rising public concerns over identity theft and cyber-fraud, we think adding a clear and simple guarantee will contribute to even greater peace of mind for our clients."
Add your comment... (note that all comments are reviewed before they're published)