FINRA arbitration panel orders Charles Schwab to pay $1.3 million over crypto scam

A FINRA arbitration panel has ordered Charles Schwab (嘉信理财) to pay over $1.3 million to settle allegations that the firm failed to detect red flags in a cryptocurrency scam. According to attorney Scott Greco, the fraud involved an 82-year-old victim who was convinced by scammers that he owed a debt due to an erroneously issued refund, which allowed the perpetrators to gain access to his computer.