>>> HERE IS A LONG ONE.
>> 17 NAMES.
>> THAT’S 17.
>> 17 GRANDCHILDREN.
>>> THE REASONS THIS SUBURBAN
COUPLE SAYS THEY PUT RETIREMENT
SAVINGS IN WHAT THEY THOUGHT WAS
A SAFE PLACE. >> DEPOSITING FUNDS AT FIDELITY
WOULD BE AS SAFE AS I DEPOSITED
MY MONEY FOR FT. KNOX.
>> WE WERE FLABBERGASTED AND
STUNNED BECAUSE WHEN THIS WAS
DISCOVERED, WE ASSUMED THAT THE
MONEY WOULD BE RETURNED RIGHT AWAY.
>> THAT MONEY, $40,000 TALKEN BY
A THIEF WHO HACKED INTO THEIR
ACCOUNT.
>> CHASE BANK SENT ME THREE ZERO
BANK STATEMENTS AND I AM LOOKING
AT THEM AND I AM SAYING I DON’T
HAVE AN ACCOUNT THERE.
>> AS THEY UNRAVEL THE THEFT,
THEY LEARNED FIDELITY ALLOWED
THE THIEF TO C CRUCIAL
DETAILS INTO THEIR ACCOUNT
INCLUDING PHONE NUMBERS WITHOUT
V
VERIFICATION.
>> WE
>>.
>> Reporter: THAT HAPPENED IN
JUNE OF 2020, TWO SEPARATE
$20,000 WITHDRAWS.
WHEN FIDELITY FLAGS TWO
TRANSACTION THAT WAS SUSPICIOUS,
THEY FROZE THEIR ACCOUNT.
SENDING A LETTER VIA MAIL THAT THE COUPLE NEVER RECEIVED.
>> THIS PROBLEM IS A SLEEPING
GIANT.
>> WHEN YOU DIG INTO THE
POLICIES THEMSELVES, YOU FIND
THAT NO, REALLY IT IS UP TO YOU
AND THE CUSTOMER TO PROTECT
YOURSELF.
>> A BURDEN THAT’S UNFAIRLY ON
THE SHOULDERS OF CONSUMERS.
>> THE BIGGER PROBLEM IS NOT
THAT THE FRAUD CURRED, IT IS
THE INVESTMENT COMPANY DECIDED
TO TAKE NO RESPONSIBILITY.
THAT’S A BIG RED FLAG.
>> THAT’S WHY THEY WERE DENYIED
THREE SEPARATE TIMES.
>> WE HAVE DETERMINED THAT YOU
DID NOT TELL US WITHIN 30 DAYS
SO WE ARE SORRY BUT WE CAN’T
HONOR YOUR CLAIM.
DONE.
>> WE ASKED FIDELITY TO TALK TO
US ABOUT THIS CASE SPECIFICALLY
AND WHY DIRECT CONTACT WERE MADE
TO WARN THESE CLIENTS EVEN
FIDELITY IDENTIFIED SUSPICIOUS
ACTIVITIES INSIDE THEIR ACCOUNT.
>> FIDELITY OFFERED THIS
STATEMENT, "FIDELITY HAS
INVESTED SIGNIFICANT --
SIGNIFICANT -- NOTIFYING THE
CUSTOMERS OF THE ACTIVITY IN
QUESTION IN MAY OF 2020 AND CONTINUED
CONTINUED VIA DIFFERENT MEANS."
BUT THEN FIDELITY REVERSED
COURSE GETTING THEM BACK THEIR
FULL $40,000.
>> I TRULY BELIEVE WITHOUT YOUR
AGREEING TO INVESTIGATE THIS
CASE AND AIR THIS CASE THAT, YOU
KNOW, WE WOULD BE DEAD IN THE
WATER.
THEIR DETECTION FAILED
MISERABLY.
>> MONEY THESE GRANDPARENTS SAY
THEY’LL WATCH OVER VIGILANTLY
AND CONTINUE TO WARN ANYONE WITH
SIMILAR SAVINGS.
>> IT IS EXTREME IMPORTANT AND I
WANT TO MAKE CLEAR THAT YOU ARE
YOUR BEST WATCHDOG.
THERE ISOBODY ELSE THAT’S
GOING TO DO IT.