International MOVEit Hacking Incident

August 9, 2023

We are aware of a security incident involving MOVEit Transfer, a software application historically used by TD Ameritrade, Inc. (“TD Ameritrade”), a Charles Schwab & Co., Inc. affiliate, to share files. According to law enforcement, an international group of cyber criminals hacked MOVEit Transfer to steal electronic files. The incident has impacted hundreds of organizations globally, including several U.S. government agencies.

We took immediate action by containing the threat and halting any use of MOVEit Transfer. We also alerted law enforcement. The incident did not impact TD Ameritrade’s or Schwab's business operations or other systems. The incident affected some client data. However, we believe less than 0.5% of clients may have been affected. We are providing updates to the limited number of affected clients and will communicate with them directly, as appropriate.

Our primary focus is protecting our clients. We provide our clients with security guarantees for losses due to unauthorized activity in their TD Ameritrade and Schwab accounts. Maintaining the trust of our clients is at the core of what we do and who we are. You can read more about TD Ameritrade’s Asset Protection Guarantee here.