Please be aware of a new scam campaign that combines computer pop-up messages and phone calls.  This advanced scheme combines elements of electronic tech support scams with impersonations of real personnel at the Federal Reserve and Schwab to attempt to obtain clients’ assets and sensitive data.

The scam works as follows:

1.      Clients receive a pop-up message appearing to be from either Microsoft or Apple warning that their computers have been compromised.

2.      The popup instructs clients to call a provided “tech support” number that of course connects them to a fraudster.

3.      After speaking with the fraudsters, they will be contacted by someone claiming to work for Schwab as a “security officer”, who informs them their Schwab account is “compromised”. In order to protect them, the Schwab employee impersonator tells the client they must transfer their funds into an account in “federal custody”, and their money will be returned in three business days, once their account has been “encrypted” for safety.

4.      Once the client follows these instructions, their money disappears.

To make the story believable, clients are receiving personalized paper letters in the mail that purport to be from the Federal Reserve, referencing the real name and titles of genuine Schwab personnel, tech company employees, and FDIC analysts who are supposedly the individuals contacting them by phone. The letter encourages clients to verify each person’s identity through their LinkedIn profiles, making the scam even more convincing.

Steps you can take to protect yourself:

In the face of this intense threat landscape, please review what you can do to help yourself below.

• Do not click on links or make calls based on instructions from a computer pop-up.
• Always verify the phone numbers for tech support providers independently.
• All requests should be verbally verified with Revolve Wealth Partners.

If you feel that you have been targeted or if you have any questions, please email [email protected] or 201-373-2163.