One More Risk for Your Portfolio: Financial Fraud

Financial fraud is not new, but it evolves so quickly that it can be hard to keep track of the latest developments. Host Mike Townsend is joined on this episode by DJ Johnson, managing director of financial crimes risk management at Charles Schwab, for an informative discussion of what kinds of financial scams are proliferating now and how investors can protect themselves. DJ highlights how fraudsters are using new techniques with artificial intelligence and voice impersonation and describes some of the most common scams he's seeing right now, including synthetic identity fraud, options fraud, and scams involving foreign securities. Mike and DJ also discuss the particular vulnerability of senior investors. DJ shares some insights on how Schwab works to identify and deter fraud, and he offers some important common-sense tips on how listeners can keep informed, stay vigilant, and take steps to help ensure that they don’t fall victim to these increasingly deceptive scams.

Mike also shares his perspective on the latest developments with two of the big issues percolating right now in Washington: the massive tax and spending bill now moving through the Senate and the ongoing uncertainty around tariffs.

Check out SchwabSafe® for information on ways to protect yourself from cybercrime and how to report it if you suspect fraud.

WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise.

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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 is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.    

Investing involves risk, including loss of principal. 

The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information. 

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options" before considering any option transaction.  

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