438: How to Straighten Out Your Crooked Boss | Feedback Friday

Cybercrime Surge

The episode addresses the recent surge in cybercrime affecting Robinhood users, emphasizing the importance of robust security measures. Jordan Harbinger explains that these incidents are not due to a breach of Robinhood's systems but rather the result of targeted attacks on users, often through compromised passwords 1. He advises users to adopt strong password practices and enable two-factor authentication to protect their accounts. Robinhood is actively working to improve its customer service and communication, having doubled its support team to handle the increased demand 1.

Platforms like Robinhood are still new and a bit risky, but they're exciting. They want to keep their customers, perhaps even more than most big banks.

--- Jordan Harbinger

Despite these challenges, Jordan expresses confidence that Robinhood will eventually resolve these issues for its users.

   

Fund Recovery

Recovering stolen funds from Robinhood involves understanding the company's policies and legal options. Jordan Harbinger outlines that Robinhood is responsible for returning stolen funds but not for repurchasing stocks or options lost due to unauthorized trades 2. He suggests documenting all communications with Robinhood and considering legal action if necessary, though the cost may outweigh the stolen amount. Filing a complaint with the Consumer Financial Protection Bureau (CFPB) or the consumer fraud division in your state are potential avenues if Robinhood fails to respond adequately 3.

You need to start building a case for yourself. Keep good documentation of all your emails, phone calls, and all other communication.

--- Jordan Harbinger

These steps can help ensure that users are prepared to escalate their cases if needed.