RICHMOND, Va. (WWBT) - If you don’t check your 401 (k) statement very often, you’re in good company. But there’s an important reason to open that envelope—or log in online!
A survey from Charles Schwab found that only about 40% of clients—reviewed their quarterly 401 (k) statements last year.
The biggest risk with that—is not catching fraud quickly.
Hackers—armed with their victim's personal information—have contacted 401 (k) providers' call centers, pretending to be that account owner.
And sometimes---they're successful in getting money withdrawn from that account.
Those thieves—often steal that money in relatively small chunks that you might not notice, if you're just checking the account's balance from time to time.
But check that statement—and odds are—that $5000 withdrawal will catch your eye.
And—be very careful about clicking on links in emails that look like they come from your 401 (k) provider.
Thieves know—retirement funds often have big balances in them, and they've become a favorite target for phishing attacks.
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