A FINRA arbitration panel has ordered Charles Schwab to pay more than $1.3 million for failing to detect red flags associated with a cryptocurrency scam targeting an elderly client. The ruling resolves allegations that the brokerage did not adequately protect the account holder from fraudulent activity. The scam involved a fraudster convincing an 82-year-old man that he owed a debt due to a mistakenly sent refund, ultimately gaining remote access to his computer. Plaintiff's attorney Scott Greco confirmed the financial award, highlighting the firm's failure to identify and prevent the exploitation despite apparent warning signs.