Financial Services Industry
Industry: Email Alert RSS FeedIdentity theft hits online brokerage accounts; SEC issues guide to investors on how to guard against it.(News)
Investment News, November, 2005
Byline: Bruce Kelly NEW YORK - The ugly reality of identify theft is seeping into the brokerage business. Securities regulators clearly are concerned. Last Thursday, the Securities and Exchange Commission issued a guide to investors about steps they could take to protect online brokerage accounts from intruders, and in July NASD of Washington sent a notice to its broker-dealer members reminding them of their obligation to protect customer information.
"Over the past few months, the SEC has become aware of numerous situations in which unauthorized individuals have gained access to other people's online brokerage accounts,'' the SEC said in a statement. "Some of these fraudsters have stolen money from investors by transferring funds from...
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