Found via a thread on Bogleheads, https://www.bogleheads.org/forum/viewtopic.php?p=6756717 https://www.bogleheads.org/forum/viewtopic.php?p=6756717 In another

Found via a thread on Bogleheads, https://www.bogleheads.org/forum/viewtopic.php?p=6756717 https://www.bogleheads.org/forum/viewtopic.php?p=6756717 In another thread the same Reddit poster writes: "I was just told by e-trade that the stocks were sold and the amount was already transferred out to an unknown BOA account." It sounds like ACATS has absolutely no security whatsoever. If someone knows your account numbers, and has enough information to set up a fake brokerage account in your name, they can pull your money away, sell it, and transfer it out before anyone can stop it.